This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Consumers Likely Won't Stick to Holiday Shopping Budget

NEW YORK ( TheStreet) -- Christmas is more than six weeks away, but about half of all consumers are already worrying about how much money they'll spend on holiday swag.

That comes as Capital One (COF) rolls out a study on consumers' holiday shopping expectations with a "good news-bad news" bent: 74% of U.S. adults will make themselves a holiday shopping budget, but 49% already say they may not stick to it.

If the budget doesn't cut it, it's the consumer's friends who will be left out in the cold first. The Capital One survey says 32% are likely to delete a friend from their holiday hopping list if the finances prove too tight, while only 26% will carve their boss out, proving that employment trumps friendship among budget-conscious yuletide shoppers.

"According to our recent survey, 59% of Americans are most likely to blow their holiday spending budget on gifts," offers Amy Lenander, vice president of rewards at Capital One. "But if you're worried your holiday expenses may break the bank this season, consider using your credit card rewards to offset the costs, making sure no one gets cut from your gift list."

A better idea would be to keep the card hidden away under lock and key so you don't generate a significant debt this holiday season.

Capital One advises having conversations with a significant other over a holiday shopping budget -- that ensures you're on the same page and improves the odds one spouse won't go overboard shopping, knowing that the other spouse is keeping an eye on the bank account.

That said, 57% of Americans surveyed by the bank say they "aren't completely confident" that their loved one will put the credit card away for good once any holiday budget limits are reached.

The survey also offers a healthy, money-saving nugget for Christmas consumers. It seems that more Americans are adopting a "do-it-yourself" mentality on holiday shopping, with 70% of consumers making their baked goods, meals, decorations and other holiday treats instead of buying them from a retail outlet.

Oh, and most Americans won't forget about popping something under the tree for themselves this year, either.

According to Capital One, 57% will leave room in their budgets for a gift for themselves this year whether it busts that Christmas shopping budget or not.

There's no doubt consumers are gearing up for a Green Christmas, which could lead to a Blue January if they're not careful.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%
TSLA $148.25 0.18%
YHOO $26.82 -0.85%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs