What Is Your Spending Like This Season?

[ProudLib72]

I just finished buying holiday presents today. I would say that I spent about the same as in previous years. However, I do believe that there is a lot of uncertainty this year. The DOW lost all of its gains, then rose slightly. Unemployment is down, but thousands are getting laid off by GM and farmers are barely scraping by. So I'm unsure whether the market is still being driven by the last quarter, or if people really do have a bright outlook overall. What say ye?

According to the nooze, consumer spending is up (although this is based on 3rd quarter spending):

U.S. Consumer Spending Picks Up; Inflation Below Forecast
Americans’ spending rose by more than forecast in October, giving the biggest part of the economy a solid start to the quarter, while a measure of underlying inflation cooled to the slowest since February.

Americans’ spending is poised to keep driving growth this quarter, supported by a strong job market, lower taxes and improving finances that’ll likely also boost holiday spending. Even with the weaker inflation readings, the Fed is widely anticipated to move ahead with an interest-rate hike in December, though the pace of moves beyond that is less certain.

Consumer spending, which accounts for about 70 percent of the economy, had been projected to moderate this quarter after rising in the prior three months at a 3.6 percent annualized pace that was revised down from 4 percent. The economy also is forecast to cool, after the best back-to-back quarters of growth since 2014.
https://www.bloomberg.com/news/articles/2018-11-29/u-s-consumer-spending-picks-up-while-inflation-below-forecast

If I weren't such a cheap bastard and actually bought a star so I could conduct a poll, I think my choices would be:
1. Lots of confidence
2. Meh, sort of confident that the market will hold for at least awhile
3. Not confident at all but what the hell, I'm going to spend my savings this season
4. I've put my money in a shoe box and am currently holding onto it tightly as I cower under my bed

[Cirque du So-What]

1. Arbitrary, painful, and continuous

Actually, not too bad, considering.

[ProudLib72]

5. "Arbitrary" is a good description

At what point to you throw away the Bloomberg prediction (if you even paid attention to it in the first place), and base your opinion on what you see starting to take place (major losses due to tariffs versus minimum wage increases)? Everything seems to be happening so quickly now that I don't know how accurate a six or even three month forecast can be!

[JI7]

2. I think the issue is type of jobs and in some states minimum wage

and the whole gig economy thing which can work for some but not all.

[Siwsan]

3. Except for a few birthdays - nothing special

We stopped the whole Christmas gift thing, years ago. Now we just eat, drink and do our best to be merry.

I know people who still spend themselves into nasty debt, every holiday season. Never made sense to me. Bah Humbug.

[petronius]

4. None, yet. It's not shopping season for me until the school term is over and the grades are in

But I don't expect it to be noticeably higher or lower than in past years; our circumstance haven't changed...

[dhol82]

6. Stopped all Christmas and birthday giving years ago.

We are all adults all over the country so we just call and wish each other happy holidays.
Works beautifully.

[ProudLib72]

13. I get one present for each of my parents

One present for my sister and one for my BIL. Then my niece gets one present. So really, it's only five presents. Pretty easy. I did get my friend a small gift, too.

[dhol82]

34. I give cash to my cleaning person and the doormen in my building.

I also have a number of charities that I give to. I figure all told I give around $2000.

[dameatball]

7. For the past 10-15 years I have given my children cash to help them out at Christmas.

Unfortunately I now realize that 1/3 of them use that to give gifts to their Trumpist in-laws. So I am re-evaluating this year. I have three kids and seven grandkids. I am pretty confident that I can figure out a new system. For years I rented a beach place for the holidays, but as time went on political arguments would arise. It was like Thanksgiving on steroids. Looking forward to a new challenge.

[violetpastille]

8. #4

[Kajun Gal]

9. For us, nothing. No money. Repub children, sister, grandchildren want nothing to do with us.

Granddaughter wrecked her car. We gave her ours. Graduated from high school. Gave her money for college. We "sneak" money to gkids for McDonalds, gas, whatever... The "bank" is closed. Daughter said don't give them Christmas presents, so we aren't. Let's see how long THIS lasts. They reap what they sow and so shall they reap...just not from us anymore!

[llmart]

10. I'll spend less this year.

I've bought a few little things for my grandbaby who's three, but there will only be one or two small gifts for my two grown children. This is my first Christmas being retired and on a fixed income and let's just say it's a challenge. Fortunately, the few family I have left have never been big shoppers including me, so it's not expected.

I have a retirement fund, but I wish I knew how long I was going to live and then I would know if I should start spending it or not The fund has taken a dive this year for sure and I don't have to withdraw from it until 2020, so I'm doing my best to live on my meager pension and Social Security.

[ellie]

11. We have been buying

from thrift shops and antique stores so not breaking the bank. But we wouldn't do that anyway.

[ProudLib72]

14. That's another factor I was going to mention but forgot

I usually buy everything online. This year, I bought most presents from the local fairs. I like the idea of buying from local producers and, ostensibly, paying less than retail.

[ellie]

39. Me too

Supporting small businesses the entire season and year.

[cynatnite]

12. We're spending significantly less for a few reasons...

We've been the ones spending the bulk of our funds for electronics for the grandchildren. I love to spend money on them, but that time is over. In the past we've spent upwards of $1500 on the four of them.

We let our children know that the spending spree at holidays is over. This year we're spending about $20 each in gifts and then it will be $20 each for gift cards. They better let their children know not to expect tablets, laptops, TV's and all that. Yes, we've done that. No more.

Mainly, we need to leave it to the our kids to do that. Secondly, money is tighter and we're working on buying a house right now. Thirdly, I need to break myself of the habit. I admit to being part of the problem because I love getting them things.

[ProudLib72]

15. Does fear of a market downturn factor in at all?

I get saving up to buy a house. My sister used to give me lavish presents. Then she had a child of her own and had to budget. I'm happy enough just getting together on X-mas morning and having good family time.

[Efilroft Sul]

16. I'm drastically cutting back.

My wife and I aren't buying much for each other. I plan to buy for the kids, their two grandmothers, our two nephews, and our handful of major clients. That's it. Our rental unit goes vacant in January, quarterly taxes are due by the 15th, and we are probably going to get hosed for April. Fortunately, we are one of the few people who saw our health care coverage drop for next year.

[ooky]

17. I don't personally know anyone who is any better off than last year.

Their health care costs have risen, their wages are basically the same, and they didn't get the $4K that Trump promised. Or 3K or 2K or even 1K. Indeed, if they got anything at all they barely noticed it. The stock market flattened. I wouldn't expect people to increase their Christmas spending this year unless they are under some delusion they are going to have more on their tax returns. In fact, if someone is needing a new vehicle they may want to get it now because it looks like the idiotic tariffs and trade deals are going to drive car prices higher. In that sense some people may be spending less at Christmas because of pressure to buy a car before prices and interest rates rise.

[ProudLib72]

21. I'll agree with you on the car issue

I apologize if this sounds naive, but I have to wonder if people are less interested in investing in anything tied to the stock market and are, instead, more willing to commit to larger purchases (such as a car). That would be in addition to the tariffs causing the prices to rise. Distinguishing between the two would be nearly impossible, so this is just my conjecture. Something to ponder.

[ooky]

25. I agree. I can't speak for everybody but I don't

look at a car as an investment as much as something I have to have and a financial decision.

But this year, because of tariff threats, it could be both an investment and a bigger financial decision for people like me. I am still driving the same Trailblazer I bought new in 2005. It runs fine and I've kept the mileage fairly low, so normally I wouldn't be considering a new car this year except for fear that if I wait another year the same new car may end up costing me an extra 3-5 grand because of these dumb tariffs. There is a lot of steel and aluminum in cars, and other stuff that could be impacted too. So I can easily see car prices rising that much, and I figure others may as well.

So for me, I can elect to spend, say, $25-30K on a new car this year and possible justify a $3-5K roi by doing so, simply anticipating tariff increases, or invest that same $25-30K in a flat stock market that's at a historically high level and on an 8 year bull run, which may very well yield nothing, and then need to buy the same car the following year and pay more for it. So the reason for buying the car instead of investing in stock related investments, for me, may not be mutually exlusive between tarriff or stock market concerns. And I think you are right that more people are looking for other uses of their money besides a stock market which looks bloated and flat, which could drive more larger purchases of various types, or, alternatively just choose to sit on their money in money market accounts or low risk investments such as stable asset funds.

[Niagara]

18. My holiday spending this year is easy peasy

My adult children asked for clothes. I made out like a bandit with the online "Black Friday" sales and I'm generally in tune with their style in clothing.

Stocking stuffer's was actually fun to do this year. I purchased several different flavors of the mug cakes from Duncan Hines and I will mix and match the envelopes of mug mix in each stocking. The stocking stuffer recipients can trade each other if they prefer one flavor over the other. I found large Christmas mugs at the Dollar Tree for $1 each which will also go into the stocking.

My boyfriend asked for dress shirts and sweaters and I'm almost done with the shopping. I only asked him for a few inexpensive gifts this year. He recently purchased a vehicle for me since my 15 year old car was dangerous and pretty much unfixable (exhaust reattachment issues and a gas leak).

I also opted out of doing gift exchange with the "in-laws". Last years holiday shopping was stressful and a complete disaster.

[PoindexterOglethorpe]

19. I spend very little on presents.

I used to buy for some nieces and nephews, but no longer.

Today I asked my son what he wanted for Christmas, and he said some nice coffee. So I went to the nearby World Market and bought about 5 or 6.

I told him I wanted a nice box of Godiva chocolates.

I have a couple of friends that I'll get some small things for, but that's it.

I have been known to crochet afghans for weddings or babies. I also embroider pillowcases. I have a niece who recently became engaged and I've started on the pillowcases already.

[Adrahil]

20. buy a star you cheapskate. NT

[ProudLib72]

22. Not during this economic downturn!

A star buys a lot of ramen these days!

[democratisphere]

29. The Ramen will kill ya!

The Gold Star won't !

[Bayard]

23. I've gotten back into making xmas gifts

Last year, it was dried gourds from my garden, made into artistically designed birdhouses. I'm still thinking about what to do this year, but have laid in a large batch of baking supplies.

[ProudLib72]

24. You know, I don't think enough people appreciate homemade gifts

They contain sweat equity and thought. They are personal. I say good on you for going that route! I hope whoever receives them understands how special they are.

[SomethingNew]

26. We keep it small.

For the last few years my family has kept things small. Immediate family sends in a few books they want and we draw names. You get the person you drew a book and something else determined year by year (shirts, mugs, candy, etc.). This way nobody feels obligated to buy presents for siblings, spouses, nieces/nephews, etc. Only exception is everyone ends up getting Mom something and she gets something for everyone.

[KentuckyWoman]

27. $64 - I bought myself a new winter coat and my husband wanted new shoes.

Cyber Monday week Blair had 50% off everything so I went for it.

[Awsi Dooger]

28. Less than normal for family

Not intentional. I think I picked out some good gifts, and also took some requests. The family members who normally ask for high priced stuff surprised me this year by coming in low-to-moderate.

So I treated myself to a robot vacuum on Black Friday. Not bad so far. I like it when it gets stuck then figures out how to wiggle free.

I have to pay off some promotional balances in December and January. That PayPal and Home Depot stuff where they give you 6 or 12 or 24 months without interest. I knew they were coming to the end of the promotional period but really wasn't concerned until last night when I checked the specifics on my Home Depot account. What a robbery. I owe $572 and the deferred interest is $422 and change. I'm sure they sucker one person after another who doesn't pay it off in full and has no idea the interest penalty will be that substantial. The PayPal versions were only a fraction of that. But it is going to cost me $3000 to pay everything off to avoid interest.

That's going to prevent any ideas of a holiday splurge.

I'll root for the Santa Claus rally in the stock market.

[ProudLib72]

37. Robot vacuum? Do you have pets?

Roomba cat is a jerk!

[democratisphere]

30. You must be a Bernie supporter where you think everything is free!

Buy a star and support the infrastructure here!

[Doreen]

31. Same as it has been for years now.

I buy a couple of boxes of cards every two years and give them to friends and family. by the time I go back to the boxes I bought a few years ago nobody remembers them. I get my brother his own special card because his birthday is on the 24th. I can not afford to get much more. I have been learning to cook and actually have found that I am a natural at it so I have been cooking dinners for my close friends and family. Affording purchases is not something I get to enjoy very often.

Hey, even I got a damn star. If DU goes down and they have to limit people on the site for awhile star members are the ones who get priority. I can not survive long without my DU family.

[greymattermom]

32. I like to give experiences, not stuff.

So I pay for my grandsons year around martial arts classes, and I am driving my daughters to New Orleans for a girl getaway. They will remember. My daughter in law just got rid of a huge number of broken toys. No need to contribute to that.

[samplegirl]

33. Much harder

I’m not getting as many hours and working harder than ever to come up with enough money.

[panader0]

35. Christmas is for kids.

Mine are grown and gone and the work of the season is over.
I usually send books.

[2naSalit]

36. Subsistence only.

I don't believe in the holidays.

[Marrah_Goodman]

38. Zero

I am thankful to have a roof over my head and food in my tummy.