Tips may take a dip during holiday season

11/03/2009

In a tough economy, consumers have turned to a variety of money saving tips in order to achieve debt management.

According to a survey from Consumer Reports, the number of people who might normally give tips for the holiday season may take a dip this year. Of people polled who give tips, 26 percent said they planned on spending less during the holidays.

"Families are looking for ways to balance their financial concerns with the need to thank people who have helped them during the year," Tobie Stanger, senior editor at Consumer Reports, said.

A different poll conducted by Consumer Reports after last year's holiday season showed that people cut back on tipping in 2008. People involved in house-cleaning services were most likely to be tipped by respondents in that poll. Of those that use such a service, 58 percent said they give a tip to the those that provide it.

Recently, the National Retail Federation stated that it expects holiday shopping to be down in general as consumers focus on money management. The NRF expects holiday sales to fall by 1 percent to $437.6 billion.

More Money Management News

10-07-2010

Consumers cut back on some spending in 2009

10-06-2010

Consumers may spend more this holiday season

10-05-2010

Taxes an important part of personal finance budgeting

09-10-2010

Location may play a role in consumer credit card debt

08-05-2010

Tokenization may save travelers credit card debt, credit score damage

08-04-2010

Incomes, spending remain flat in June while amount saved increases

07-16-2010

Credit card debt, financial reforms pass Congressional test

07-08-2010

Illinois announces sales tax holiday for back-to-school items

07-03-2010

Fed overdraft rules now in play

07-02-2010

Extension to unemployment benefits delayed

Related Resources