While it's not yet Halloween, a new report finds many Americans say they are already planning to spend less during their holiday shopping.
According to a poll conducted by PriceGrabber, more than two-thirds of consumers say the current economic situation will affect their shopping plans with just 7 percent of consumers saying they expect to spend more this year than last year.
Some are taking steps to minimize the impact holiday shopping will have on their finances, with many starting their shopping early to reduce the risk of late payments affecting their credit scores. Others are expecting retailers to offer big discounts because of the economy.
"Our survey data found that shoppers are not only expecting to find great prices and bargains this holiday season, but 53 percent will start shopping earlier this year to spread out the impact of purchases, and 33 percent are beginning their holiday shopping in October," stated Graham Jones, general manager of PriceGrabber.
Retailers are expected to bring on many extra workers, which could also help the financial situations and credit reports of many consumers. The National Retail Federation says companies will hire 480,000 – 500,000 temporary employees to handle the holiday season.