AP-GfK Poll: Debt turning shoppers into Scrooges

[Terri]

By JEANNINE AVERSA
Associated Press
November 24, 2009

WASHINGTON (AP) - A lot more Americans are feeling stressed out by debt this holiday season, raising the glum likelihood they'll behave like Scrooge rather than Santa.

In fact, fully 93 percent say they'll spend less or about the same as last year, according to an Associated Press-GfK poll. Half of all those polled say they're suffering at least some debt-related stress, and 22 percent say they're feeling it greatly or quite a bit. That second figure is up from 17 percent just last spring, despite all the talk about economic recovery.

Most people - 80 percent - say they'll use mostly cash to pay for their holiday shopping, and that generally means buying less.

For example, Joy McGavin, 26, of Pittston, Pa., says she will cut back on holiday gifts by a few hundred dollars this year and pay for everything with cash.

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[SewingSusie]

I had lots of people walk by my craft table at the last show i did, but nobody bought anything. Methinks these practical Midwesterners are looking for ideas to make their own gifts this year, instead of giving store-bought stuff.