With the faltering economy and cash-strapped consumers, most are now wondering if the spirit of gift-giving will still be alive this holiday season. In fact, kids will probably be a little disappointed to find that ‘Santa’ didn’t give them the latest favorite (and expensive) toy under the tree.
In a report by the New York Times, it pointed to the serious problems facing the US economy—consumer spending is falling, and no engine of growth seems like to replace it in the near future.
Many economists expect consumer spending to continue to fall in 2009. American consumers have been cutting back on spending by over 3 percent in the last quarter, the first quarterly decline since 1990 ahead of the 1991 recession and steepest since 1981, also according to the New York Times.
So, for most of us who have downsized our budget for our Christmas gift lists, we still have a number of options to still make giving a special tradition. One of the things to keep in mind is to be creative and inventive and that is, to look for gifts that cost less but mean more. If all else fails, always remember that it’s always the thought that counts —the mere act of remembering to give is a far memorable gift than anything else. (AJPress)
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( Published on December 3, 2008 in Asian Journal Los Angeles p. A8 )
