According to the annual Holiday Shopping Survey conducted by Myvesta, a nonprofit consumer education organization, Americans plan to spend 14.3 percent less this year on holiday purchases.
The average American plans to spend $716 this year, down from $835 in 2003. Forty-eight percent of Americans plan to spend $500 or less.
"While we have heard news of an improving economy and a lower unemployment rate, this hasn’t translated into a better financial picture for many Americ...
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