According to the Quicken Holiday Survey, conducted by Quicken®, America's #1 personal finance software, ninety percent of Americans surveyed reported that the rise and fall of Asian markets and Wall Street would have no effect on their holiday spending this year. The 203 percent in increased spending will translate to between $1702 and $174 billion in overall holiday purchases, according to the National Retail Federation. Consumers expect to spend most of their money on gifts of clothing (84 percent), food (710 percent) and children's toys (66 percent).

The survey interestingly, also found that the Internet is playing an increasing role in the way consumers research and purchase products. The Quicken Holiday Survey found that 10 percent of Americans plan to use the Internet to research holiday gifts and look for sales and bargains.

Still Spending Too Much?
Budget wise, this year, more than half (60 percent) of Americans surveyed reported that they would not set a holiday budget, which could lead to bill collectors coming down the chimney instead of Santa Claus. Another 12 percent of those Americans that do set budgets end up spending more than expected, exceeding their holiday allowance. Yet, a reported 30 percent of consumers still feel like they spend too much during the holiday season. Out of those Americans that do set budgets, 12% end up spending more than expected and exceed their holiday allowance.

"Accumulating December debt is a bad way to end the year," said Tony Cook, managing editor of leading financial Web site Quicken.com. "It leads to January indigestion and crash financial diets that are doomed to fail. The way to avoid unhealthy bingeing is to be prudent with your holiday spending so you can start the New Year by saving and investing instead of paying off credit cards until July."

Here are some tips from Quicken.com to help consumers get a handle on holiday spending:

• Get organized. Set a realistic budget and stick to it. Personal finance software, like Quicken Deluxe 99, can help you easily plan your finances in advance, and help you stay organized. For example, Quicken can help you create a holiday budget, and show you how much you have spent on items such as gifts, dining and entertainment.

• Plan your shopping in advance. Know what you want to buy, and for whom, before you leave for the mall. Avoid shopping for the sake of shopping, and resist any impulse purchases. Don't shop when you're tired, hungry, or feel pressured.

• Never borrow more than you can reasonably pay off. Giving gifts should be a gesture, not a sacrifice. Leave yourself some borrowing capacity for emergencies.

• Reduce your credit card interest rate. If you must carry a balance on your credit cards, Quicken.com can help you find credit cards with lower interest rates. Check out the Banking and Borrowing department at www.intuit.com/banking/.

• Get more for your money, online. The Web can be a great place to find a special item without spending time on the road or in the parking lot. Web sites like Amazon.com provide a wealth of choices at attractive prices — search the Web for holiday travel bargains and special offers.

Bruskin Goldring Research conducted the Quicken Holiday Survey in November 1998. Findings are based on telephone interviews with a random cross-section of 1,011 adult Americans, ages 18 and older.

Second Annual Quicken Holiday Survey

Fact Sheet
Bruskin Goldring Research conducted the Quicken Holiday Survey in November 1998. Findings are based on telephone interviews with a random cross-section of 1,011 adult Americans, ages 18 and older.

Survey Findings…

• Americans expect to spend an average of $1,003 this holiday season.

• Men: $1,023
• Women: $ 986

• 18-24: $ 916
• 25-34: $ 945
• 35-44: $1,117
• 50-64: $ 992
• 65+: $ 930

• 60% of Americans do not set a holiday budget.

• No Budget: 60%
• Set a Budget & Stick to It: 21%
• Set a Budget & Spend Less: 5%
• Set a Budget & Spend More: 12%

• 84% of consumers expect to spend the most holiday money on gifts of clothing.

• Clothing: 84%
• Food: 71%
• Children’s Toys: 66%
• Entertainment: 53%
• Jewelry: 42%
• Furniture/Home Decorations: 36%
• TV/Electronics: 26%
• Computers/Software: 25%
• Travel: 22%

• Although holiday spending will be up 23%, 59% of Americans think they will spend the same amount this year on gifts compared to last.

• The Same as Last Year: 59%
• More than Last Year: 17%
• Less than Last Year: 21%

• 10% of Americans plan to use the Internet to research holiday gifts & look for sales & bargains

• Look for Sales & Bargains: 10%
• Research Gifts: 10%
• Research Stores: 6%
• Buy Gifts: 6%

• 30% of Americans, both men & women, believe they spend too much on holiday gifts.

• 90% of Americans, both men & women, said Wall Street & the Asian financial market have no effect on their holiday spending.