CORPUS CHRISTI, Texas — High inflation has affected how much we spend on food, rent and gasoline.
Many shoppers tell KZTV they don’t plan to spend unless there is a big sale.
“There’s a lot of cool stuff. I’m just not sure about how I’ll be spending my money,” said Jorge Martinez.
Martinez couldn’t miss Black Friday shopping.
He’s got a list of Christmas presents to buy and a few items for himself.
While looking around he noticed some things on his list are a bit more expensive than what he hoped for.
“What I’m doing is setting aside my monthly pay and using that strictly for Christmas shopping or like anything I need. I have my necessities and my spending money,” Martinez explained.
Martinez said he’s focused on budgeting this year and he’s not alone.
The Associated Press said shoppers are being more selective going for cheaper options, dipping more into savings, and turning to “buy now, pay later “services that allow payment in installments. Some were also running up their credit cards at a time when the federal reserve is hiking rates to cool the U.S. economy.
One shopper, Juan Sanchez, tells us he used his credit card on black Friday.
“I use my credit card. I try to be responsible with it, so I won’t go to crazy with it,” said Sanchez.
On the other hand, Diana Gutierrez won’t even consider it.
“No, that’s not how it works in my family. We pay as we go and we’re very grateful for that,” Gutierrez said.
Gutierrez says she did most of her Christmas shopping during the summer.
Others suggest online shopping is a way to save money.
“I come in stores to see how clothes fit. Take a picture and look for it online because prices are sometimes higher in store,” said Sanchez.
The National Retail Federation expects holiday sales will slow 6% to 8% from the 13.5% growth a year ago. However, online sales will be up.