RECESSION AFFECTING STUDENTS’ CHRISTMAS SPENDING

by Tia L.S. Holmes
College students are often burdened with the costs of student-loan and tuition payments. The last thing needed is bearing the effects of an economic crisis.
Well, now it’s that time of year when excessive spending is almost inevitable. Students were asked if they planned on changing their holiday spending based on the rough economy.
Only one-third of the students polled said they are not affected by the recession; these students were mostly between the ages of 17 and 20.
One student, Johnson, who is frequently involved in community service claims she has been affected by the recession, she added, “I think this Christmas, folks who are downtrodden by the economic crisis should volunteer for those in need and gain some perspective as to how fortunate we truly all are to have health, home and family during the holidays.” The student says she’ll spend the holiday with immediate family because she realizes that gift-giving is not measured by the amount of money spent.
Another student, Atkinson, said she will only give her children gifts they need, not those they want.
Here are a few tips that will help you recession-proof your holiday spending so you can bring joy to your friends and family, and survive through this rough economic holiday season.
Keep an eye out for sales and promotions. As with most holidays, stores will offer merchandise and services at a discounted rate in order to attract more consumers.
Lay it away. Layaway allows you to shop early and spend comfortably while you avoid the rush of holiday shopping. The option of making payments always eases the cost burden associated with buying multiple gifts.
Go for it online. Online shopping is convenient in that it allows you to avoid the crowded marketplaces; however, its disadvantage is shipping costs. But the best thing about online shopping is the chance of finding “online exclusives,” which are often lower-priced items and specials that are found only online.
Become a “Secret Santa.” This is the most efficient way to save money and please all of your loved ones. “Secret Santa” gift-giving is always a fun way to get everyone in the group involved while you are only expected to buy ONE gift. There is also usually a price maximum.
These tips will be useful in helping you spend wisely and, hopefully, within your budget so you can enjoy a stress-free holiday.