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HOLIDAY MONEY
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New holiday mantra: Save 'til you drop
Survey: More Americans seeking gifts that encourage saving rather than spending this year.
December 22, 2005: 10:16 AM EST
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NEW YORK (CNNMoney.com) - More Americans are using the holidays as a time to encourage saving rather than spending, according to a new survey.

More than three out of five Americans plan to give family member gifts such as savings bonds or piggy banks this year as consumers turn to gifts that encourage saving for the future, according to a poll conducted by the Center for a New American Dream.

"People are focusing on what really matters -- financial security, relaxing time with family and friends, and reduced stress during the holiday season," said Betsy Taylor, president of the non-profit organization that encourages responsible consumption.

More than three in four consumers wish the holiday season was less focused on materialism, and 87 percent think the holidays should be about caring for others instead of gifts, the survey found.

As living costs surge, more Americans are also seeking gifts that will help them avoid excessive holiday spending and burdensome debt.

More than 9 out of 10 of the survey's respondents said their living costs have risen this year from last year, mostly due to surging energy costs.

Less than a third of the individuals polled for the survey said it is necessary to spend heavily in order to have an enjoyable holiday, and four out of five respondents said they would prefer a more simplified holiday season.

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Click here to see who else wants Americans to stop shopping.  Top of page

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