How many days of your hard-earned income will you spend that could otherwise be used to pay off long-standing consumer debt or added to your emergency savings?

Until those households get access to credit again, our consumer-driven economy will continue to slog along in low gear

Black Friday Hysteria Revealed

The explosion in wealth created by the postwar boom had not made a dent, he discovered. Although the average family was 60 percent richer in 1974, levels of contentment remained unchanged from 1945” (USC Trojan Family Magazine, Winter 2007).

The United States is far richer in 2008 than it was 1974 and yet again these figures show no improvement. In fact, every measurement of personal well-being—psychological, emotional, and spiritual—demonstrates that despite our increased abundance we are less satisfied and more depressed than ever

As Easterlin has confirmed, as we acquire possessions, our aspirations rise in proportion to the gains, leaving us no happier than before. Indeed the more we earn, the more we want! This misguided expectation sets us up for perpetual disappointment because as the evidence demonstrates, prosperity fails as a source of true happiness and life satisfaction.

When do you think it is appropriate for stores to start decorating for and promoting the winter holidays? Before Labor Day1%Between Labor Day and Halloween5%Between Halloween and Thanksgiving36%After Thanksgiving54%Never1%Don't Celebrate Holidays1%Don't Know1%Refused to Answer1%Source: Consumer Reports National Research Center

Too many Americans are what Stanley calls "aspirational spenders" -- people who spend money to make themselves look richer or more successful than they are.But their "hyperconsumption" effectively torpedoes any chances they would have at accumulating real wealth, which typically requires spending significantly less than you earn and investing the difference

The "keeping up with the Joneses" mentality means the fancier the neighborhood, the less wealth we may accumulate, Stanley said. The opposite is also true: When our surroundings are more modest, we tend to spend less, regardless of our incomes

Yes, people have cut back their spending because of job losses, less access to credit and the desire to build up savings, Stanley said. But that cutback is likely to be reversed as the economy improves, he said

Of those 65-plus, nearly half (45 percent) say they’ll spend less than $300

“We shop every week and buy gifts all year long,” says Fowler, who retired from IBM in 1990. “We don’t wait till the season. It’s easier, and we get as good a deal as ever because we shop while the stores have sales.

Most people seem to want to avoid racking up debt this holiday season. More than three-quarters (78 percent) say they plan to buy their gifts with cash, check or a debit card.

Take the United States: Richard A. Easterlin, an economics professor at the University of Southern California and a former Guggenheim Fellow, has done extensive research that "found no significant relationship between happiness and time over a period in which GDP (gross domestic product) per capita grew by one-third, from 1972 to 1991."

Similarly, Eric Weiner notes in "The Geography of Bliss" that America -- "the wealthiest nation in the world" -- is "three times richer than we were in 1950, yet no happier."

Eighty-three percent (83%) of adults say credit cards tempt people to buy things they cannot afford, according to a new Rasmussen Reports national telephone survey

The government doesn’t make people go into debt, of course. It just nudges them in that direction

This gives the system what economists call a “debt bias.” It encourages people to make smaller down payments and to borrow more money than they otherwise would, and to tie up more of their wealth in housing than in other investments.

So encouraging people to take on debt qualifies as a genuinely bad idea.

American charities have weathered a significant drop in giving this year, and while they're hoping for a holiday miracle, a recent survey shows they will probably see a decrease in year-end generosity.In light of the economic downturn, only 38 percent of Americans say they are more likely to give a charitable gift as a holiday present this year, compared to 49 percent last year, according to a survey conducted by Harris Interactive to be released Monday

At the same time, Wall Street bankers ("Blessed Are the Wealthy"?) are amassing more and more loot -- and they do their best to pay little or no income tax (last year Goldman Sachs' tax rate was a mere 1%!). Would Jesus approve of this? If not, why do we let such an evil system continue? It doesn't seem you can call yourself a Capitalist AND a Christian -- because you cannot love your money AND love your neighbor when you are denying your neighbor the ability to see a doctor just so you can have a better bottom line.  That's called "immoral" -- and you are committing a sin when you benefit at the expense of others.

It's worth noting that Americans who plan to spend less don't always do so. The survey found that of those who made a budget for last year's holiday gift buying, 44% spent more than they had intended

The poll also found that 6% of adults still carry holiday debt from last year, unchanged from last year.