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Do You Plan to Spend More Money this Holiday Season?

Northern Virginia's economy is relatively strong, but the looming threat of sequestration has some shoppers nervous.

Black Friday, Small Business Saturday, holiday parties—it's an expensive time of year. 

According to the National Retail Federation's national holiday consumer spending survey (conducted by BIGinsight), the average holiday shopper will spend $749.51 on gifts, décor, holiday cards, entertaining and other things this season. That's a minor increase from $740.57 — the amount shoppers spent last year.

Two-thirds of respondents to a recent poll by the NPD Group said they “plan to spend about the same” as last year, while 10 percent planned to “spend more.”

Unlike other areas of the country, the fiscal cliff and sequestration are really on the minds of thousands of federal employees and government contractors.

With that in mind, will you be more creative with your gifting, or are you planning to rely on more social shopping sites like Groupon and Living Social for cheaper gifts? 

Let us know in the comments section below! 

Tammy November 19, 2012 at 06:49 PM
I will not be spending anything more for the holidays. And it isn't because of the false fiscal cliff that republicans and the media keep trying to scare us about. It's because our economy is in recovery and we are personally recovering. So it would not be fiscally wise to spend a bunch of money on gifts that are not truly needed.
Beth Lawton November 20, 2012 at 02:35 PM
Good point! We are not traveling this year for Thanksgiving or Christmas, and that will save a lot of money just in airfare.

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