For many Americans, a big part of the holidays involve giving presents to others. But itâ€™s perfectly fine and feasible to not give gifts to family and friends and still enjoy the holiday season.
In fact, if the tough economy or a job layoff has taken a toll on your household budget, this could be the year to not spend any money at all on gifts. Even if you do have money in a bank account to spend, itâ€™s important to realize that there are plenty of other ways to celebrate the season without making all the festivities centered on gift-giving.
Still, the average American is expected to spend $704 on holiday gifts in 2011, according to the National Retail Federation. Should you opt out of this yearâ€™s holiday shopping frenzy like the folks whoâ€™ve joined Buy Nothing Day? Perhaps. Here are five reasons why it might be wise not to spend any money at all on gifts on Black Friday and this entire holiday season. â€”Lynnette Khalfani-Cox
Lynnette Khalfani-Cox is co-founder of the free financial advice blog, AskTheMoneyCoach.com. Read her "Ask The Money Coach" column every Monday through Friday on BlackEnterprise.com and follow Lynnette on Twitter at @themoneycoach