Financial News Story of the Day – Thanksgiving Tradition Threatened by Black Friday 2011
If you love Black Friday or Cyber Monday, you may be contributing to what some are calling the death of Thanksgiving. Traditionally a time for loved ones to gather and give thanks, Thanksgiving week is now known for shopping as much as it is for family. Deal mania is sweeping the nation as millions across the U.S. prepare for some of the best deals of the year on everything from clothing to electronics. Some store employees however, are organizing protests against large retailers that are forcing them to spend Thanksgiving night at the store rather than at home (Source: WashingtonPost.com).
Excerpt: “Stores that once closed their doors in deference to the holiday are now touting Turkey Day deals starting as early as 9 p.m. Workers who should be on vacation are answering office e-mails on their smartphones.”
Personal Finance Tip of the Day – Move Back Home if it’s Reasonable
Here’s a great post from WellHeeledBlog.com discussing the benefits of living at home after college. Although it does carry a certain stigma and you’re supposed to be able to stand on your own two feet after college, the economic realities of living on your own just aren’t there. Let’s face it, times are tougher now than they were for the boomers (source: WellHeeledBlog.com).
Excerpt: “Moving back home isn’t all sunshine and roses, and it’s probably not a viable long-time strategy for many folks. But if you have a good relationship with your parents, living at home is a wonderful way to save up, accelerate student loan payments, and generally spend some more time with family.”
Daily Finance Summary – Dow Jones Hammered
The Dow was hammered for -249 points today on the supercommittee’s failure to cut $1.2 trillion in debt over 10 years, along with European debt problems. The committee made up of members of both houses failed to make any cuts that would upset their voters, highlighting politics as another reason the U.S. is not making the right moves towards a recovery.
Quick Question: Are you Black Friday shopping this year?
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