Since we’re on the verge of Black Friday and Cyber Monday, I thought I’d include some rather interesting findings from the TodaysMama.com 2008 Holiday Economic Survey.
- 85% of moms surveyed plan to curb their holiday spending this year. 14% plan to cut holiday spending by an astonishing 75%, 33% will cut spending by 50%, 23% will cut spending by 25%, and 15% will cut spending by 10%. Only 9% of respondents said they would not be cutting spending at all this year.
I told Nathan yesterday that even though everything is fine financially with our family, knock on wood, his dad and I will be spending money fixing up the house this year rather than getting each other more stuff.
Now I just have to break the news to my husband. Honestly hun, do you need more hunting/fishing/bowling/golf gear? (I’m sure he’ll be emailing me this answer: “YES!”)
- 63% of moms indicated they would not be shopping on Black Friday this year.
I’m not participating. However, I’ve only shopped once on Black Friday and thought it was a waste of my time. I prefer shopping online or shopping sales throughout the year and hiding the presents.
- 89% of survey respondents plan to do at least some of their holiday shopping online this year.
Done, I hope, with enough time for Amazon to get everything to me in time.
- When asked how they would find the best holiday deals, 65% of respondents said they would use all of the tactics listed, which include shopping online, holding out for last minute sales, taking advantage of early sales and offers, and paying close attention to ads and mailers.
There ARE some awesome sales to be had, but honestly I don’t need more stuff. But I’d like a new couch, carpeting, and paint. I wouldn’t turn down a facial though.
- 47% of moms have made minor cuts to their current monthly budgets. 26% have made major cuts, and 13% indicated they are in need of supplemental assistance.
Demand is going up at the food banks here in Colorado.
- 45% of moms surveyed say their home has lost value due to the current economy.
I’m noticing more “for sale/for rent” signs in front yards – two on my immediate block. I have a feeling that people had to move due to job transfers or layoffs. At least the houses that were foreclosed upon behind us are now occupied.
- 23% of moms surveyed said they have returned to work either full or part-time due to the economy. Another 7% said they have had to get a second job to make ends meet.
Returning to work was the plan as soon as Lucie started kindergarten. However, I know many moms who are supplementing incomes by babysitting, doing after school care, or cleaning homes.
- Regarding the effect the incoming administration will have on the economy, 37% of survey respondents said they are unsettled since Barack Obama was not their top pick. 29% believe Barack Obama will make a real different for the economy, and 28% believe any change is good.
I’m not surprised about Obama and some women feeling “unsettled.” At one of the mom communities I monitor, that view was out of control to the point where moms were reporting other moms to the Secret Service.
- 66% of moms believe the economy will take two to three years to recover. 18% believe things will start to look up in a year, and 13% believe “we’re in for it” for the foreseeable future.
Two to three years is what we’re hearing in the mainstream media and on talk radio. We’re in for a ride, so hold on.
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