Holiday Shopping Not Breaking the Family Bank

It's no holds barred holiday spending, with shoppers spending record amounts on Black Friday and Cyber Monday.

You'd think that might put some Arkansas families into the red.

But UALR economist Greg Hamilton says that's not the case.

The latest estimates say people spent nearly 60 billion dollars -- more than a billion of that online.

And Cyber Monday is expected to be bigger this year, with 1.5 billion in sales.

Hamilton says Black Friday is a new family tradition -- a 5-day retail holiday.

It begins on Thanksgiving, when a lot of stores opened their doors with extended hours, all the way through Cyber Monday.

And yes, Hamilton says Americans are spending more, but they're not breaking the bank.

He says, "There's a lot more cash sales this year than previously. They're using less credit, so there isn't as much consumer debt. So they're using caution, but they're out shopping."

He also says it will be interesting to see how Americans spend as we get closer to Christmas.

But he's guessing most people did their shopping over the 5-day weekend, when they could get the best deals for their money.