Economy Hurting Moms More than Dads this Holiday Season?

Filed under: Work Life

Bleeding wallet

As we all know, times are tough this holiday season. People are spending less on everything, including presents. Many parents will no doubt fore go something special for themselves in order to provide for their children. More often than not, according to a recent study, it's the moms that will put aside personal spending in order to afford gifts for their children rather than dads.

Part of the reason for this is that, simply, women spend more on apparel and other personal items than men, and are more often targeted as consumers than men. Apparel sales for women have dropped over 18% for the months of September and October, compared to just over 8% for men. According to a recent survey conducted by the NPD Group, 61% of mothers said they would be curbing their holiday spending versus 56% of women in general and 455 of men.

Parents surveyed, women especially, mentioned that they would not be opting for the usual, "buy one for a friend, buy one for me" attitude that used to exist. We all know what that's like. You go to a store to get a present for your sister or your girl friend, and you like what you purchase for her so much you get one for you too. Now, I don't know that men don't engage in that kind of spending as well, nor do I concede that moms will be hurt more this holiday season than dads. The dads I know seem to be taking a hit just as much as the moms; many couples, in fact, are not exchanging presents at all in order to make the holiday special for their kids.

What about you? Will you be cutting short your personal spending this holiday season? And, are you a mom or a dad?

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Start by teaching him that it is safe to do so.