Recession Christmas – 12 Frugal Christmas Present Gift Ideas
Ready or not, the Christmas season is upon us. Stores are stocking up on anything and everything related to Christmas gift-giving, while many families are trying to find ways to survive Christmas during a recession. Christmas may not seem so “Merry” for those affected by job layoffs, home foreclosures and in some cases, outright poverty. Many families are in need of life’s basic necessities, due in part to the economic downturn, and will be in need of Christmas donations from those more fortunate.
According to a survey by Ing Direct, only about half of American adults (54%) plan to spend $300.00 or more on holiday Christmas gifts this year, a 10% decrease from what Americans spent last year during the 2008 Christmas holiday season. The survey results show that only 11% plan to spend between $1 and $100 in 2009 on Xmas gifts, and 23% plan to spend $100-$299, compared to 21 percent last year.
11% of those surveyed don’t plan to spend any money at all on Christmas toys or gifts in 2009, compared to 7 percent in 2008, a 57 percent increase. 14% of parents are giving children smaller Christmas stockings this year, while others are choosing to not fill Xmas stockings at all, and some will just hang the stockings as a Christmas decoration. Older Americans (55 years old and up) show the most dramatic change, with 61% planning to spend $300 or more dollars on gifts this year, compared to 71% from last year.
41% of Americans say saving more and spending less is a top priority for the remainder of the year and beyond. According to Forbes.com, 67% of Americans say they will continue their frugal ways by saving more money and spending less even after the economy recovers. The recession creates a great opportunity to rethink priorities in life, with less focus on luxuries and frivolous spending, and greater importance being placed on real “needs” vs. “wants”.
If you are being frugal by choice or by sheer necessity, Christmas presents a financial challenge for those who are needing a less expensive, affordable Christmas holiday. Here are twelve inexpensive, frugal Christmas gift ideas that won’t break the bank.
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