Many of you likely already know that the economic picture for the United States and the world as a whole have gotten very negative. There is very little doubt that we are in the midst of a recession. Most economists say a recession is assured and a severe recession or even a depression remain a possibility. This kind of economic outlook is obviously unsettling for consumers, and quite frankly it should be.

What does this mean you should do this holiday season? First of all you should still enjoy the holiday season just as you always, don’t let the economy turn your season upside down. It does mean that every consumer should do everything humanly possible to save money and be thrifty this holiday season. With the current state of the consumer and lower than expected Black Friday sales, retail companies are certainly going to have to be marking down items a large amount, so take advantage of these great deals when you can. Decorating the home for the holidays? Try deocrating it on the cheap and not making things so extravagant.

Going thrifty for the holiday season doesn’t have to mean sacrificing an enjoyable holiday season. Go thrifty on the holiday spending with the understanding that none of us knows exactly what is ahead for the economy and we all should be very careful to save whenever it is possible. As a wise investor you must know that when the path ahead of you is an uncertain one it is your responsibility to take precautions, and the holiday season is one in which each wise consumer and investor should count every penny.

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