October 8th, 2008
12:31 AM ET

Cutting Back?

All right:  You've heard A LOT about the economy recently - both on our show and probably from your parents.  Wednesday's program even talks about how holiday shopping is expected to be seriously scaled back, with a lot more people spending a lot less money than usual.

But has any of this affected you yet?  I mean, have you been told to expect less this year, or do you plan to cut back on what you spend?  Jennifer Westhoven has a great quote at the end of her report:  "Americans may get the chance, much like those 'Whos' down in 'Whoville,' to remember the true meaning of the holidays isn't about the gifts."

Carl Azuz, Anchor

Filed under: Uncategorized
soundoff (131 Responses)
  1. nate

    ya my perent tell me to cut back all the time .. people just dont have the money to spend on gifts any more because they have to have money to pay there bills when they come due so thhere is going to b a lot more cut backs VERY soon

    October 8, 2008 at 12:44 am |
  2. Tiffany

    Actually, I haven't been told about that ... yet!

    October 8, 2008 at 4:07 am |
  3. Alina

    It does affect me, we are always watching how much we spend, but it's not as bad as it might be for others during the holidays, since my family doesn't celebrate any holidays.

    October 8, 2008 at 8:16 am |
  4. Corbin

    I think my family was just like it is as it was last year. We never have money. I have just one thing to say WOW i can't beleive Wall Street lost 1.5 TRILLION DOLLARS last monday.

    October 8, 2008 at 9:07 am |
  5. dylan

    its sad but you gatta do what you gatta do

    October 8, 2008 at 9:58 am |
  6. Melissa

    My family has been cutting back since before Hurricane Katrina. We didn't even have Christmas presents last year. It's not very fun, but at least I have a home to stay in and food to eat. I've gone with almost no food before, too. In fact, that's what the rise in gas prices is doing to me right now.There is no possible way we can cut back anymore than we already have. I hope the economy gets better soon.

    October 8, 2008 at 12:46 pm |
  7. austin

    its sad but you gotta do what you want to do...

    October 8, 2008 at 1:17 pm |
  8. Jessica

    My family is talking about all of this financial stuff and how we don't have that much money. My dad just got out of the hospital (Tuesday) and now we have a huge hospital bill plus the cost of food and the regular bills we pay every month.

    October 8, 2008 at 1:21 pm |
  9. Grace

    No this hasn't effected me yet and it is horrible that it has other people. I really hope that it doesn't effect me too!

    October 8, 2008 at 1:36 pm |
  10. justin

    we could save our money and buy only essentials instead of spend spend spend people our econonomy is COLLAPSING if we do not do something about our economy will be as bad as the great depression
    people we need to change PLEASE!!!!!

    October 8, 2008 at 3:14 pm |
  11. Steven

    Actually, the snake at the end of today's student news was a Colombian (or spelled Columbian by some people) Red Tail Boa Constrictor, not a python. Both species of snake are boids (or constrictors), but the major difference is the fact that boas give live birth, while pythons lay eggs. The difference can be told just by looking at them, however.

    With the exception of the Kenyan sand boa, most boas live in the western hemisphere, while pythons are found in Asia and African regions.

    Another thing I was curious about is that the Animal Control guy said the snake weighed more than him...he looked like a sturdy 200lbs or more. No colombian red tail boa could get close to touching that marker, especially in captivity (it was obviously a former pet).

    As a side note, even though I have owned three pythons and a peruvian red tail boa (which is one of the largest species of red tail boas) for over four years, my Highschool 101 teacher didn't believe me about the snake being a boa rather than a python. I found that funny.

    October 8, 2008 at 5:51 pm |
  12. Marvin

    Ever since last year–December 2007–due to the economy, I have been reduced the quantity of objects I buy. Indeed, I have been advised to expect LESS this and the past year. With that in mind, I am trying to conserve as much money as possible for the holidays that will ensue soon enough.

    However, even by saving money, I will still will not receive all of my desires these holidays. It may be a hassle to me, but, nevertheless, these pursuing holidays, the only importances that matter are to be together as a family, be happy, and most pertinently, consist of all of our vital requirements.

    October 8, 2008 at 5:53 pm |
  13. Lexi

    With my $10, If I saw a man who had no home, and was walking on the side of the road, i would give my $10 to him.

    October 8, 2008 at 7:30 pm |
  14. Kevin

    I've heard my parents talking about the economy, but you just have to do what you have to do at the same time as going with the flow. I think it will definatley hurt me too.... but not as much as other people.

    October 8, 2008 at 8:55 pm |
  15. Kelly

    We have 6 people in our family just living with us....there is a lot more out there. We all give gifts. This year we might not just because of the prices. My family lives in a small town so we have to drive 30 minutes just to get to Target, but not with the gas prices going up. I really didnt get the best gifts so I really wouldnt care if I dont get presants. It is better to give than to get.

    October 8, 2008 at 8:58 pm |
  16. brynley

    has not affected me yet

    October 9, 2008 at 8:23 am |
  17. karly

    The cut back really has effected me and ny family but not has much has the gas shortage has

    October 9, 2008 at 8:52 am |
  18. *Jake*

    I haven’t been told to cut back or that I won’t get anything this year. However, I usually don’t get anything anyway, but I’m hoping for something this year. So, I guess It will affect me with the fact of Christmas.

    October 9, 2008 at 8:56 am |
  19. Hilary

    MY family will be cutting back to save money.

    October 9, 2008 at 9:10 am |
  20. Surada

    My mum told to do that too, that sad because I like to shopping, but I have an idea that we still give a gift to people by make some hand make stuff, sometime it’s not cost a lot. Yeah it’s effect to me to because I’m not a person that love to do some hand make stuff I can’t do it.

    October 9, 2008 at 9:27 am |
  21. Lauren

    It has affected me and my life, but it isn’t as bad as it could be. My family and I watch what we spend, and we have cut back on unnecessary things such as eating out. The worst part is that everywhere around us, everything seems to be costing much more money. This is the time of year when my school, our sports, and our church are all asking for donations. And on top of that, the holidays are coming up.
    So, at the moment, the cost of everything seems overwhelming.

    October 9, 2008 at 9:29 am |
  22. Jamie

    I think that reporter is right, Christmas isn’t all about gifts but we need that spending in order to boost our economy. Those holiday shoppers may be our last hope.

    October 9, 2008 at 9:52 am |
  23. Todd

    It hasn't really affected me yet but for all those it has I don't know what it could possibly be like.

    October 9, 2008 at 10:02 am |
  24. Devon

    My parents have not told me we need to cut back yet but I now that they will tell me very soon because the economy right know is very sad

    October 9, 2008 at 10:03 am |
  25. Emmett

    No my parents really don;t talk to me about that kind of stuff. I really don't think it matters it's just that there is other ways to celebrate Christmas but they have talked to me about anything like that.

    October 9, 2008 at 10:03 am |
  26. Brian

    I think that is very bad for the stores

    October 9, 2008 at 10:06 am |
  27. Jordan

    Cutting Back?

    No, my family has not told me we are spending less this year on Christmas. But they are always watching what they spend their money on. My mom and dad talk about how high the gas prices are and wishing they would decrease. But they have not told me I will be getting less things on Christmas. But Christmas is not about the gifts, its about spending time with your family.

    October 9, 2008 at 10:06 am |
  28. Nick

    My parents have not yet told me to. But I never have money so I guess I am doing good? But if I had money I probably would not spend it.

    October 9, 2008 at 10:07 am |
  29. Josh

    The cutting back thing is not okay!! I wont get that many presents if my mom is cutting back this year then it wouldn't be a fun holiday. But I understand why we would cut back, its not as fun but some of us just have to deal with it.....

    October 9, 2008 at 10:08 am |
  30. Alexandria

    Well I just moved in with my cousin and I don't expect anything cause I never expected anything from my mom either when I still lived with her so it fine with me!

    October 9, 2008 at 10:08 am |
  31. Shawn

    we should save money for x-mas

    October 9, 2008 at 10:11 am |
  32. Tyler

    Yes, it has affected me. My family is having trouble keeping up with everything that is going on.

    October 9, 2008 at 10:11 am |
  33. Scott

    we haven't really been hurt by the economy besides the gas prices before we still bought the cheaper brand of things just to save money.

    October 9, 2008 at 10:11 am |
  34. Brittany

    With this economy problem my family has been cutting back a lot. We haven't done any shopping for things that aren't really important, just food. The only thing that we haven't cut back on is spending money to go to my games.
    I totally agree that this year will be the year that a lot of people learn the true meaning of Christmas, but maybe that is a good thing. Most kids get a bunch of presents for Christmas and that is what they think that it is about. This could be the year that kids see how it really is to be like the who's.

    October 9, 2008 at 10:12 am |
  35. Rath

    I think I will get as much as normal. I don't care though. I just want a good Christmas.

    October 9, 2008 at 10:12 am |
  36. Dylan

    I think that we should cut back on the christmas gifts. If we cut back a little we can save a little bit of money that not many people have in michigan anymore. I mean who doesn't need money!!!!!!

    October 9, 2008 at 10:12 am |
  37. maddison

    I think that now that the economy is cutting back, that we wont be able to get all of the good stuff anymore, we'll be getting all of the cheaper stuff

    October 9, 2008 at 10:12 am |
  38. Christina

    I think that cutting back is a good thing so you can save your money to pay off your bills

    October 9, 2008 at 10:13 am |
  39. Asia

    most Americans are going to start cut back on thing for what they kind of thing they buy to how many times the vist the mall.

    October 9, 2008 at 10:14 am |
  40. Lindsey

    I have noticed a changed in what my family byes now. We bye some cheeper things or less of them. Also for the holidays people wont be able to get lots of decoration because of the economies prices. Even other countries are having problems with the economy, which is really sad.

    October 9, 2008 at 10:15 am |
  41. Jessica

    Our country is in such bad shape no one can afford anything anymore, my dad pretty much has to save as much as possible for child support, gas, and bills. and some people cant do it anymore, and we need to change that soon as possible

    October 9, 2008 at 10:15 am |
  42. brooke

    No it hasn't affected me yet, but I have a feeling it will very soon because christmas is coming and after christmas, in the spring we are adding on to our house and that's going to cost a lot of money too, so I don't think I'll be able to go shopping as much anymore!! 🙁

    October 9, 2008 at 10:15 am |
  43. jalen

    Yes i have noticed a cut back but i understand the reasons and i am fine with the cut backs.

    October 9, 2008 at 10:17 am |
  44. Krista

    ya my parent tell me to cut back all the time .. people just dont have the money to spend on gifts any more because they have to have money to pay there bills when they come due so thhere is going to b a lot more cut backs VERY soon

    October 9, 2008 at 10:18 am |
  45. jakob

    I seem to be cutting back. I only have been eating off brand stuff like I don't have much of the good stuff anymore. I really want some GOOD fruit loops.

    October 9, 2008 at 10:24 am |
  46. dan

    no it has not effect spending at all

    October 9, 2008 at 10:26 am |
  47. LeAndra

    This has not effected me yet but it prouble will pretty soon and it has got to be horrible if it has al ready effeted you

    October 9, 2008 at 10:29 am |
  48. Olivia

    well, actually my family doesn't really believe in giving gifts for christmas anyway. We just get together at christmas no one gives out presents.

    October 9, 2008 at 11:02 am |
  49. Katey

    A ton of this has affected me. Most the time, at Christmas, I get most of the things I asked for and a few I don't. This year, I'm probably only going to get one or two things that I want, and barley any that I don't want. I'm fine with that, though. If it helps keep my family fed, I'm good with it.

    October 9, 2008 at 11:02 am |
  50. Alissa

    well i thin that cutting back i some what a good thing because some people spend to much money on gifts.

    October 9, 2008 at 11:03 am |
  51. Wyatt

    My parents are talking about the economy a lot and were not really doing as much as we did like go to Kalamazoo to do some shopping so we just get as much as we can so we don't have go back and forth

    October 9, 2008 at 11:03 am |
  52. Heidi

    We are definitely scaling back this year on our Christmas spending. Our kids have been told to expect less and we've told our kids not to spend anything on us. My husband & I aren't doing anything for each other either! Normally, I buy gifts for my God-children and we draw names in our family – that may be out the window too!

    October 9, 2008 at 11:04 am |
  53. Cody

    Sure it's nice to get a fancy new outfit or diamons or something, but I don't need a lot. Just the basics: food shelter, cloths, ect. It could be worse, but still it is bad.

    October 9, 2008 at 11:04 am |
  54. Mckenzie

    My parents have not told me to cut back. Then again that they have told me to expect less ofr christmas this year. Though I don't know if they are meaning that because we are going to florida that to expect less or because they don't have as much money to spend on all of us. But I do thinl that even though my parents haven't said to cut back I still don't do as much as I used to before the economy went bad.

    October 9, 2008 at 11:04 am |
  55. summer

    yes this has effected my family. Our landlord called and said we have till February 1 st to get out of or house. So we were approved for a 45,000 house loan. Now my mom is worried about not getting the loan. And yes we were to expect alot less because of the budget.

    October 9, 2008 at 11:04 am |
  56. Alayna

    Yeah my brother and I are always told by our parents that Christmas is going to be smaller but every year its always the same size. But I know it puts a lot of pressure on them every year because they feel like they have to make it as big as last year.

    October 9, 2008 at 11:05 am |
  57. Chris

    yes this does have an effect on my family of five. With the economy doing as bad as it is, we probably will cut back on everything like gifts or just going out and having family time out to eat or just shopping. I used to get paid to mow the lawn but ever since the economy took a dump my parents haven't had any money so they just don't pay allowance.

    October 9, 2008 at 11:05 am |
  58. Seth

    None of this is really affecting me, either I'm not noticing or just because I live in a small town. I always try to cut back a little, even more now that I see what's happening.

    October 9, 2008 at 11:06 am |
  59. Marissa

    Yes this has effected me. My parents have already said that since we are moving that we aren't going to get as much cause we need to save for unexpected expenses that may come up. Not getting a lot this year really doesn't bother me because I understand why I'm not.

    October 9, 2008 at 11:06 am |
  60. ~Sarah~

    Has the cutting back affected you?Have you been told to expect less this year?Well for me I have been affected a lot I can't go to my friends houses as much and I was told to expect nothing this year. I wish we all had a lot of money, don't you? So I have been affected dramatically.

    October 9, 2008 at 11:06 am |
  61. Catherine

    Yea my mom is the only one working right now and we don't bring in much money so I don't expect some of the things that I wanted so i'll have to find someway to get the expensive things. When we have our annual cookie bake then I will probably sell cookies in a bake sale or have a found raiser.

    October 9, 2008 at 11:07 am |
  62. Kyler

    Both of my parent and even my grandma plan to cut back on the holidays this year. My grandma said to choose wisely about what you want for Christmas this year. Shes only giving us a couple of presents this year. My mom said the same thing. My dad hasn't really said much about it but I don't get to see him as much because of the resturant.

    October 9, 2008 at 11:07 am |
  63. Katie

    My parents have talked about cutting back on stuff but it hasn't effected me yet because we haven't tarted cutting back on anything yet.

    October 9, 2008 at 11:07 am |
  64. Xitlali

    Uh!! ya I have herd my mom and dad taking about a lot.... Ya I don't think were going to get as many gifts as years before.. , but that does not matter as long as i'm with the people I love!!

    October 9, 2008 at 11:08 am |
  65. Jacob

    The financial crisis has only affected some of my parents stuff, not any of the stuff I use often. I we only have to drive to like 15-20 minutes to go to Meijer in a 30 mpg car so gas prices really hasn't affected my family. Normally I would get a few things for Christmas anyways so really it doesn't matter to me if I don't get all I want. The crisis in my opinion will just go away eventually.

    October 9, 2008 at 11:08 am |
  66. gunnar

    I here my parents talking about maybe cutting back but....... well they really just say that we may not get as many presents as last year but that is what they said last year so i really don't know

    October 9, 2008 at 11:09 am |
  67. Kelsey

    This year I haven't heard anything yet about cutting back from my parents, but I'm sure we will a little. I know that Christmas isn't about the gifts so I'm not worried about not getting a lot of gifts, but my parents always try to do what they can. I will have a great Christmas no matter if my parents cutback or not, just because I will be with my family.

    October 9, 2008 at 11:09 am |
  68. Sydney

    All my family lives far apart and we usually get together for christmas. But this year we might not because of prices. Gas prices and prices on gifts are going up and it is getting harder for us to vist each other when we need the gas money to go back and forth to work. This personal hasnt effected me yet but I am expecting to get less this year for christmas. I hope the economy can get things back together so it will be easier for everyone!

    October 9, 2008 at 11:09 am |
  69. Jasmine

    Yeah actually this whole thing has affected me and I've been hearing a lot about it not only on t.v. but from my parents and family. Umm....yeah we have been talking about how we will be cutting back on this this year but not presents, just little stuff we don't really need. So we might get to know the real meaning of Christmas but how really knows. Only time will tell.

    October 9, 2008 at 11:09 am |
  70. Veronica

    My parents really don't talk to me about the economy because eventually politics come up in the conversation and there is a big argument.It has affected me though because even if your parents do still buy quite a lot of presents, a lot of that money still goes to gas which isn't cheap. Now I'm not saying all I care about is presents, but that's a lot of the joy. When you see your little cousin getting the thing he/she has always wanted, it just makes you feel like you just gave a home to a homeless person.even if I don't get gifts and presents I'll still know the true meaning of Christmas, but I don't know if my cousins will.

    October 9, 2008 at 11:10 am |
  71. Alexa

    It does affect me, I have already been told to "cut back" on things, like when we go shopping, I try to spend it more wisely and to only buy things that I absolutely want or need. We have had to cut back on trips to the grocery store, or when we go to the mall. My family tells me to save my money, for when we really need it.

    October 9, 2008 at 11:10 am |
  72. mariah

    The fun of the holiday is not about the gifts. i plan on not cutting back because i love to buy my family members gifts it just shows them how much i love them. If my mom or dad don't get me much stuff i defiantly won't get affended. i just love the time i get to spend with my family. So to answer your question no it has not effected me yet and i am sure that it will but if one year i don't get gifts then the most important thing is that i get to see my parents and spend my time with them.

    October 9, 2008 at 11:11 am |
  73. Hannah

    Yes we are going to cut back because we are running out of money and we wouldn't be able to buy as many gifts as we use to. The reason why is because to many stores are raising there prices to there stores and then less and less people buy stuff from them for Christmas and any other holiday.So a lot more stores need to have bigger sales than what they would. Maybe they would get more money and more people would be coming there and people who work there would actually get the right amount of money that they earned.

    October 9, 2008 at 11:11 am |
  74. amber

    Yes, I have been told to expect less this year because my family and some of my other family only get paid once a month and that has to last the whole month. And people need like groceries to last them a month without running out and other household items they need also like personal hygiene stuff.

    October 9, 2008 at 11:12 am |
  75. Allison

    Even with the economic crisis taking place, I haven't been told to cut back because of that and I don't spend a lot anyway. I haven't been told that holidays would be different and to expect less and I honestly don't care if we don't get as many gifts this year because I am sure that the children in Afghanistan don't get much of anything during the holidays either and like Jennifer Westhoven said " Americans may get the chance like those Whos' down in Whoville, to remember the true meaning of the holidays, isn't about the gifts." It is important to remember we celebrate holidays for more reasons than the gifts. I will admit, that it is fun to run down stairs in the morning and see all the presents in my stocking and under the tree, but I still remind myself and others that we celebrate holidays for many more reasons than just the gifts. It always feels better anyway to give than to receive. Enjoy your day and remember, the holidays are not about just the gifts.

    October 9, 2008 at 11:13 am |
  76. Amber

    This has affected me. This is 12 year old Amber and I know everything about this. Iv'e been watching the new everyday and they say things are getting worse and worse. This affectes my by not going to get new clothes and not getting "out" as much. Even though christmas isn't all about gift its still nice to get one. I get one for each of my family members every year without my parents money I don't have money so i cant do it this year. Someone needs to step up and do something about this.(im talking to you george or who ever is the next presitent)

    October 9, 2008 at 11:35 am |
  77. Tyler

    I feel that it is so unfair that we as kids have to suffer because of the economy. I think it cuts into my life because My parents don't take me out to eat as much or get the good brands of food.

    October 9, 2008 at 12:08 pm |
  78. Morgan

    I have started to conserve more gas recently because that is what seems to be affecting my town the most is the gas shortage. I have also been saving $10 dollars out of every paycheck to help with the expenses of the holiday, and maybe that small saving will help keep everything as a normal Christmas. My sister and I are very understanding with the whole “we might not get as many Christmas presents this year” because that isn’t what the holidays are about, but we are trying to make small sacrifices to save money to be able to give my parents the gifts and appreciation they deserve.

    October 9, 2008 at 1:02 pm |
  79. Meagan

    My parents tell me all the time that I have to “cut back”, and I hate it because I’ve always been a big spender, but due to the times we're in, I totally understand why it's necessary to cut back. So I may not like it but, it's got to be done.

    October 9, 2008 at 1:07 pm |
  80. pamela

    It hasn't really affected me but I won't be getting as much for Christmas.
    I also can't do as much as I would like to on the weekends.

    October 9, 2008 at 2:07 pm |
  81. Anonymous

    This could have good and bad effects on the economy. People would be saving money but with them spending less money the stores won't have as much business.

    October 9, 2008 at 2:39 pm |
  82. Garrett

    Actually my parents have not told me about having to cut back on spending for the holiday. But I am going to cut back and not spend that much and my parents should not spend that much either. All the parents should cut back because half of the stuff that they buy there kids is used once and never again.

    October 9, 2008 at 2:48 pm |
  83. Karl

    My parents told me that there will be a lot less spending and to try and save some of my own money. They haven't said anything yet about Christmas but I already know that there is going to be less and I don't think that we are going anywhere this year.

    October 9, 2008 at 2:49 pm |
  84. Lyndsey

    Our family isn't having any money problems, but my mom and dad are cutting down on how we use our money to make sure that if there is a time when we run into money troubles, we will be able to stay stable when it comes to paying bills and such.

    October 9, 2008 at 3:17 pm |
  85. Dana

    I have not been told to cut back this year, or warned that I will not get as many presents, although I wouldn't be surprised. I always get more presents then I need, so it would be good for me to experience this type of thing. I'll try to make a shorter list this year, because I usually get most things on my list. It's fun to get presents, of course, but even better to see cousins I spend time with two or three times a year. Family reminds you of the true meaning of Christmas much more than presents do, and they're much more important. Who care if you don't get as many presents when you're with family?

    October 9, 2008 at 3:20 pm |
  86. Victoria

    i have been told that im getting less but thats ok i mean i dont need all the gifts any way its not about gifts and besides i can buy what i want with my own money enless all that goes away to.

    October 9, 2008 at 4:28 pm |
  87. Jack

    My parents are actually considering getting me more expensive presents this year. It doesn't seem that the economic breakdown is affecting us much at all.

    October 9, 2008 at 6:07 pm |
  88. ANDREW

    my families are always telling me that we can't buy anything and that we need to conserve, but i think that's the right thing to do.

    October 10, 2008 at 1:37 am |
  89. Joyce

    Well,at least it's not very bad in Korea
    Not yet at least

    October 10, 2008 at 4:33 am |
  90. Darren

    We have desided this year to extremely cut spending, and the x-mas season is our target. The banking system has taken the brunt of the blame but with credit cards at 19 – 29% APR these are contibuting worse forcing a stop buying mentality

    October 10, 2008 at 9:13 am |
  91. hi

    i heard about it and we are watching what we spend

    October 10, 2008 at 10:53 am |
  92. Jenny

    Lots of people will have to cut back. My parents retirement relies on the stock market so I'm willing to give up gifts if it will help them later in life.

    October 10, 2008 at 6:38 pm |
  93. Charlotte

    I havn't heard anything about that from my parents. They are telling me to watch what I spent when I go out shopping with friends. But other than that, we are fine.

    October 12, 2008 at 4:17 pm |
  94. Claire

    okay, this economy is very frustrating. Ever since I began to understand the economy the economy has been bad. My parents are cutting back and tell me too as well. I understand that it is a complicated situation, but, why can't we just well fix it. I don't see why we don't figure something out that will be a huge help. Changing the subject, Christmas is my favorite holiday and i think it is sad that my family will not be able to afford all of the things we want, but i think it will be okay sooner or later. My generation is going to take the heat thanks to some people who have helped wreck this economy and that is not fair. People who made bad investments and aren't paying bills and mortgages are the reason for this crisis which i believe will be and is a deppression.
    P.S. if you ever show this comment on the show don['t show it on a friday please.

    October 12, 2008 at 9:30 pm |
  95. Claire


    October 12, 2008 at 9:31 pm |
  96. Cheryl

    Yes, I will cut back,but the economic crisis is probably a good wake up call to Americans. We will be spending more time enjoying the important things (family, neighbors, home, etc.) instead of pursuing the material things.

    October 13, 2008 at 1:51 am |
  97. Jenna

    I think it's sad that people have to cut back on holiday spending money. Some families might not have presents at all. Think about the poor little preschoolers who will wake up Christmas morning, run out to the Christmas tree, only to find out, Santa didn't come this year. I know that lots of families will be fine without Santa coming, he might not have for many years. But those families with little ones too young to understand what's going on, it'll be hard. How do you explain to a 4 or 5 year old that Santa couldn't come because of the stocks. Because people made poor choices and now we have to help them. I have 2 cousins who both love Christmas and Santa, and it's sad to think that he might not come this year. I think that if the stocks cause Santa to miss houses this year, then we're in trouble.

    October 13, 2008 at 9:51 am |
  98. Ethan

    wow. I think everyone is going to have to cut back eventually. Even if you have some more money then others you are going to have to help with others and not brage on how much you have.

    October 13, 2008 at 10:38 am |
  99. Quinn

    I am fortunate enough to have not yet been affected by the struggling economy. To those who are being affected I feel sympathy for. Garret I agree with you about the STUFF kids get for the holidays are not used many times anyway, but it is fun for them to get presents. I wish that our government would open their eyes to the hardships our citizens are going through and put there energy into coming up with a plan to help them.

    October 13, 2008 at 10:57 am |
  100. Jayne

    I have heard a lot about the economy lately and it is beginning to affect my life as I know it. We've been cutting back on a lot of things like trying to keep our grocery bill under a certain amount of money, and other stuff like that. But by Christmas time, I know I will see a difference there. It's true things are going to be different this year and maybe even the next, but we are just going to have to accept it and try to fix it.

    October 13, 2008 at 11:59 am |
  101. Ryan

    I think cutting back can be good or bad, it could be good because we would waste less food and have a better economy or a little bit better.It can be bad because you might have less things you are limited to buy and bad things can revolve from it such as riots,protests,etc.

    October 13, 2008 at 3:08 pm |
  102. chelsea

    i think that cutting back on the gifts that are given this year would not be a bad thing, i think that poeple have forgotten the importance of christmas and they worry about the gifts too much. this year if people didnt give as many gifts it think that the real meaning of christmas would be more appriciated.

    October 14, 2008 at 9:15 am |
  103. Maggi

    The downfall of the economy recently has affected me and everyone in my family. We have learned to spend less and conserve more. I have been told to not spend as much and no I have not yet been told to be expecting less for the holidays. I’m sure that I will be receiving less but as stated the holidays aren’t all about the gifts.

    October 14, 2008 at 9:19 am |
  104. G.A.

    My parents have said that we need to cut back a little this year because of the economy. I use to be a card rider and be taken to school and to home by my mom. But with the economy the way it is and the gas prices I had to start riding the bus. As well as not doing a lot of fun stuff over the weekends. That too has been cut back a little.

    October 14, 2008 at 9:32 am |
  105. andrew

    I think that cutting back this season on the gift spending is something that my family should do this year. That way we can have more money for spending on gas, bills and the other things that are making it hard for people to live these days. We could also work on cutting back on other stuff to so that this holidays wouldn’t be a total bust.

    October 14, 2008 at 12:17 pm |
  106. April

    Honestly the cutting back of money hasn’t really ever affected my family. My mom always makes sure that she gets coupons for almost anything we buy. We always get really good deals, and save tons of money. I’m happy she’s an expert on saving because it really helped my family in the long run… and to think I always laughed at her for saving money.

    October 14, 2008 at 12:35 pm |
  107. Emerald

    I think that it is hard everywhere and it isn't me or my family personally that gets to choose the position that all of us are in, our jobs the economy, and the decisions that are being made by banks. Bills need to be paid, if money is going to be given back its going to have to go towards paying debt. Unfortunately things are not the way they used to be.

    October 14, 2008 at 12:37 pm |
  108. Aurora

    Many people in this blog are talking about spending less. That’s great, but one of the ways the economy can bounce back from this economic downfall is by still spending. Stores go in more debt if we don’t spend. It has affected me, but if that means I need to work extra hours at work so be it. And for those who don’t work. Then I guess you have to put up with less. But spending will help our economy.

    October 14, 2008 at 12:40 pm |
  109. CJ

    Cutting back on Christmas gifts will be good for the people to realize that material possessions are not as important as many Americans have made them. This cut back will have a detrimental effect on the holiday economy, usually this time period is a time for young students to pick up extra cash by getting a part time job. With less people buying items, less jobs will be available because the stores won’t need to hire more employees to handle all of the customers. These economic troubles have had an impact on me already not in cutting back on gift, but with my non-profit organization, less and less people have to money to donate to the organization making it so I have to cut back on spending, which effects the people within the community that I have been helping.

    October 14, 2008 at 12:41 pm |
  110. Micah

    If I had 10$ I would spend it on like candy or something!

    October 14, 2008 at 1:39 pm |
  111. Quinn

    I all ways thought that the stock market was for just trying to get easy money but now that this crash came I now not to waste money on stuff my famliy dose not need

    October 14, 2008 at 1:44 pm |
  112. Lyndsey

    I think that this Christmas my family will cut back on the number of presents and the amount of money we spend. The price of gas and groceries have really affected the things that we spend our money on.

    October 14, 2008 at 2:34 pm |
  113. sean

    I dont think you should cut back on your spending unless you have to. If everyone is cutting back on spending then the stores will not have as many customers, and wont make as much in return.

    October 14, 2008 at 2:44 pm |
  114. Jamie

    I think that gas prices should not be so expensive because some people may or may not buy but it is also got to get out once in a while and people should take a walk or go on a bike ride rather than cars

    October 14, 2008 at 4:20 pm |
  115. Inkeria

    Christmas is a childs life so we need christmas i think we should keep it

    October 14, 2008 at 5:03 pm |
  116. carl

    My mom said that we will only get two presents this year: one from mom and dad, and one from Mr. Christmas Dude (a.k.a. Santa), because costs are going totally sky-high (man, and I was really wishing for a go-kart this year)! Oh yeah, and Carl, keep up with the awesome puns!:)

    October 14, 2008 at 9:51 pm |
  117. Addie

    OMG, I think it is great that kids will cut back, it will teach the children to not think about there self as much. GO CUT BACK!

    October 15, 2008 at 8:09 am |
  118. corey

    It is a good time to buy stocks because the price will probably go up and it is also hard to find a job and a lot of stores are going out of business.

    October 15, 2008 at 1:59 pm |
  119. Tricia

    Sure It's a good thing to cut back on wants to get more needs. But, I know it will be hard for alot of people like me I'm a shopoholic!!!

    October 15, 2008 at 6:12 pm |
  120. Dwan

    I'm getting older and theres not much i really want. I don't play with toys. I like to play sports. This cutting back thing is for the toddlers who want things for Christmas

    October 16, 2008 at 10:12 am |
  121. Michael

    It's going to be tough but we all can do it. I cut back on movie thearter viewing, going only to the "cream of the crop" movies. And I also cut back on brand name food products at grocery stores.

    October 16, 2008 at 11:05 am |
  122. Aidan

    You shouldn't spend money on things that you don't need like m&m's, cookies, junk, crack, candy, and other things that you would be compelled to O.D. on... you don't need it and you can save money.

    October 16, 2008 at 11:32 am |
  123. Amanda

    It has affected me. I have been slowing down on my spendings and thinking more about what I spend my money on. I have to ask myself if I really need something. When I go out looking for new clothes, I always end up putting things back because I think more about my purchases rather than compulsively spending money on something I don't need. Things are tight, so my spending reflects the situation.

    October 16, 2008 at 2:59 pm |
  124. Josh

    For me... its hard to say if im goin to cut back on any of my spending habits because first all, i dont have a credit card to use for the holidays so i dont think i dont really fall under that category... second, i dont feel that i have to save on holiday spending because banks made bad decisions with loans and other spending problems. The money i save and use is going to be on stuff me and my family like...

    October 16, 2008 at 3:14 pm |
  125. Ria

    I think money prices are going up because gas prices are going up. And if it stays like that we wont be able to get any gitfs for anybody at thanksgiving or Christmas either!!! Christmas is also not about gifts it is for God the most...

    October 16, 2008 at 6:13 pm |
  126. Stephanie

    I believe that it has affected me I don’t believe that I have been asking much from my parents as much as I used to. I feel bad when I have to ask my parents for money even though that’s my only way of income. I find myself staying in more and trying not waste gas as much as I have in the past. I think that I am personally cutting back but when I look around I do not think many students care about the economy and what they are spending. It’s not effecting everyone like it should this is a crises and people should be aware of what they are spending.

    October 20, 2008 at 12:07 pm |
  127. krista

    I think that its true that we will have to cut down on buying and my mother has also told me that we mite not be getting a very with christmas under the tree that is. I do think that famous saying "its the thought that counts".

    October 23, 2008 at 3:10 pm |
  128. Mandy

    i don't mind cut backs during the holidays. i'm not trying to be tacky or sound like a nag here but holidays really are about the family. and if i only get 1 or 2 gifts, if any at all, that's fine with me.

    October 24, 2008 at 6:56 pm |
  129. Alex

    This is the worst thing to happen to the U.S.A since Bush got elected and then re-elected. My parents don't even have enough money to get me a soda at the gas station across from my house. That just shows how much the country is going into the toilet.

    October 25, 2008 at 11:49 pm |
  130. Justin

    it is cool that people are cutting back becuse with low incom thay might not have enought money to spind on a morges

    October 28, 2008 at 1:21 pm |
  131. Derrick

    to get the econmy back on track we need to not cut back and it will get better sooner i mean the gas went down thats a start.

    October 28, 2008 at 6:51 pm |