New Survey Breaks Down Holiday Spending Predictions

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Thomasville, GA- Crowded mall parking lots and busy downtown streets; the holiday season is well underway. The question is, how much are people willing to spend this year?

"In light of our economy, you know, really not knowing where things are going in the future for us, we're just gonna focus on family and family traditions and not so much on buying gifts," said Thomasville resident and holiday shopper, Erin Wood.

Wood isn't alone either. A new survey by the National Foundation for Credit Counseling shows:

50% of people say they're going to cut back on holiday spending this year; 37% said they're not spending at all; 11% said they're spending the same as last year; and 3% said they're spending more than 2011.

"I'm spending about the same amount of money, but I'm actually spending more time in gift selection; trying to be a little careful, buying something more practical, something that I know will be used," said Kirk Rouse.

Extreme-couponer Kim Weckwert says you don't even need to leave your house to save a buck this holiday season.

"Go online. There's coupon codes, free shipping. Right now, a lot of the deals are just as good, if not better than Black Friday," she said.

"As a mother, a nice card, that's hand written, means more than any gift that my child could buy," added Wood.

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