This is definitely not what all of the major retailers want to hear or what the government wants the citizens being told right now, but the truth is it would be wise for all consumers to keep spending in check during this holiday season. The economy does appear to be recovering, but as of right now the labor market is still in trouble and personal wages haven’t been growing at the pace they need to for the normal person to feel comfortable about their situation.

I’m certainly not saying you shouldn’t be buying any gifts this season or spending any money, rather I am simply saying that even though things look better than they did at this time last year I think it would be wise to act with a lot of restrain before spending too much of your hard earned money. Personal savings tips you learned during the recession and the ability to make your dollar go as far as possible shouldn’t be dropped just because things look a little brighter right now.

The retailers and the government obviously and understandably want people to go out and spend money in large amounts to kick start the economy, but as a consumer you must look out for yourself first and remember not to try to do more than is wise for your budget planning. 

Use things such as special promotional sales, coupons, buying in bulk to try to make your money get farther all throughout the year. The holiday season is a time where extra expenses are inevitable, but limiting those expenses and not stretching yourself and your family too thin during that time is absolutely vital to your overall well-being. Have a great holiday season and enjoy all of the festivities, but don’t forget about your personal savings and the status of your budget or you’ll end up with a holiday “hangover” of sorts.

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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