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Young buyers plan to spend for holidays

Despite economic downturn, college students plan to buy gifts for close friends, relatives through bargains, homemade presents

By Justin Fabiano

The Daily Gamecock

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Published: Monday, December 1, 2008

Updated: Sunday, September 6, 2009

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Amy Sancetta
The Associated Press

With the holiday season closing in, shoppers storm the stores and wait in long, early lines to find the best deals during this year's economic hardships.

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Jacquelyn Martin
The Associated Press

Christmas trees, ornaments and goodies hit store shelves before Halloween, but that doesn't necessarily mean people will be decking their halls this holiday season.

Nasdaq.com reports that consumer spending is in the midst of its biggest decline since 2004, and nothing points to a much merrier Christmas.

As many people know, it's the consumers that keep the economy's heart beating, and the largest group of consumers is the 18- 24-year-old demographic. So with the economy in its current state, what exactly does this young group plan to buy during the holidays, or do they plan on buying anything?

Brett Bozzelli, a second-year sports and entertainment management student, said he has major concerns about his spending this year.

"The economy is terrible right now, and I feel like I need to spend less on unnecessary things and more on the essentials," Bozzelli said.

Bozzelli's view is widely shared by Americans as the Nasdaq reports consumer spending is down $33.6 billion on big-ticket items such as cars, but that doesn't mean that spending will cease among the young demographic.

"Oh, I'm still going to spend money this year, I just won't be able to buy as many Christmas gifts for people," Bozzelli said.

He said he plans to save money this Christmas because he's "not going to buy many gifts for the friends [he] usually [does]."

Ben Sheinkin, a second-year history student, said he does not plan on buying gifts this holiday season, but making them instead.

"Not only does a homemade gift cost less, but it means more," Sheinkin said.

In the past, he said he made gag gifts for people including an autographed picture of himself for one friend.

"I think it makes things more fun when you give joke gifts to people," he said.

Sheinkin said he is also sure that his humor will not negatively affect the recipients of his gifts.

"I wouldn't really be surprised if my parents did the same for me," he said.

Right now, Bozzelli said he hopes to spend just more than $100 this Christmas. While he said he plans on spending more money on essential items like food and other necessities, he said most of his Christmas gifts will include CD's, DVD's and video games.

The economy isn't the only reason Bozzelli isn't spending as much money on gifts this year.

"I don't have a job. In fact I can't have a job while I'm in school yet," he said.

Bozzelli said he worked at a Charleston radio station throughout high school, but since he came to college he has found life to be too difficult to balance higher education and a job.

"I have a lot more school work to do now, and if I can't pass my classes now, no one will hire me later," he said.

This is the opposite case for Erin Huxford, a second-year business student, who said she has been working at The Whitney Hotel since early last semester.

"After my first semester I found out I had enough spare time to go get a job," Huxford said. "No matter how bad the economy is; my job isn't going anywhere. Somebody has to answer the phones."

Huxford said she plans to buy gifts for her mom, dad, brother, sister and five or six of her friends. In total, Huxford said she plans to spend, "around $500."

"I've had a job for a while, and I should have enough money to spend just as much for Christmas as I usually do," Huxford said.

While the economy does not have any effect on her current job, it does have an affect on how she will spend money this holiday season.

"This year, I think I'll get mostly clothes as gifts. They are something you can use over and over, and it's probably smart to buy things like that in times like these," she said.

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