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12/11 U.S. - How much are people spending on Christmas?

The economy is affecting 2/3 of families this holiday season, according to the National Retail Federation. Shoppers are trying to be more frugal.

This year shoppers are planning to spend around $680 compared to last year's $705. That is less than 4% difference which doesn't sound like much, but this year 40% of shoppers are using coupons, rebates and rewards. Many people who have never used coupons before are now cashing in on those little pieces of paper.

Shoppers are also cutting back on gifts for friends, co-workers and extended family and buying big ticket items early. Some people say they are waiting for after Christmas sales. And then some people are not buying anything because they have lost their job, income, home, family, and have no money.

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