The holidays are approaching. Are you going to spend a lot of money on the season this year? Reports indicate that there may be a slight rise in holiday spending this year as compared to last year but most shoppers are still planning to save according to a recent survey by financial institution USAA.
The survey found that this year’s shoppers may save money in the following ways:
1. Many customers plan to spend less on gifts this year than they did last year. Four out of ten people are planning on doing this even though predictions suggest that some people will be spending more.
2. Some people don’t plan to spend any money on gifts at all. One in ten people surveyed are planning to spend nothing on 2010 Christmas gifts.
3. Shoppers will be using cash. Nine out of ten people say that they’ll use cash to avoid the interest charges associated with using credit cards. That’s smart shopping!
4. Those who use credit cards plan to get rewards. 30% of women and 22% of men are interested in using a rewards credit card for holiday shopping this year.
5. People are planning to set and budget and stick to it. Three out of four shoppers surveyed feel confident about this.
6. Some shoppers have been saving up all year long. In fact, about half of people planning to shop with cash this year have already saved up some of that cash.
7. Consumers are trying to approach the season with a cautiously optimistic attitude. There’s about a fifty-fifty split as to whether the holidays are something to be excited about or something to be survived. The optimistic approach could lead to celebrating in non-material ways that save money this holiday season.
How are you planning to save money on Christmas shopping this year?