Two-thirds of U.S. adults plan to spend less this holiday season and 6 percent say they still are carrying debt from last year's holiday purchases, according to a new Consumer Reports Holiday Shopping Poll released on Thursday.
As recession lingers on Main Street and job losses mount, 65 percent of Americans say they plan to cut overall holiday expenses such as gifts, travel and entertaining.
In last year's poll, 76 percent of shoppers said they planned to cut back on holiday spending.
About 13.5 million consumers, or 6 percent of Americans, have yet to pay off debt rung up during the 2008 holiday season, a result that is virtually unchanged from last year's survey.
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About Jim Liebelt
Jim is Senior Writer, Editor and Researcher for the HomeWord Center for Youth and Family at Azusa Pacific University. Jim has over 25 years of experience as a youth and family ministry specialist, and has been on the HomeWord staff since 1998. He has served over the years as a pastor, author, youth ministry trainer, adjunct college instructor and speaker. Jim’s culture blog and parenting articles appear on HomeWord.com. Jim is a contributing author of culture and parenting articles to Crosswalk.com. Jim and his wife Jenny live in Olympia, WA.
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