Oh, the holidays: A time for tacky sweaters, holiday parties and presents.

This season, students are beginning to look over their gift lists wondering if the nation’s joblessness and extreme stock market lows will affect their upcoming holiday shopping.

“”I have a really big extended family,”” said Shannon Strabala, a UA and Pima Community College junior in speech and therapy. “”We do gift exchanges with our cousins and family. It’s normally a really big thing.””

This year Strabala doesn’t know if she will be able to buy as many presents as she would like for her family.

“”I need to start making money now,”” Strabala said, gesturing with her glittered acrylic fingernails. “”And just save up.””

The Department of Commerce announced Oct. 30 that U.S. personal consumer spending dropped at an annual rate of 3.1 percent for the third quarter of this year, the lowest drop since 1980 – suggesting a grim outlook on the holiday shopping season for consumers.

In an effort to save money, Strabala has cut back on several luxuries.

“”I used to go out a lot,”” Strabala said. “”I’ve started to cutting back on going out to dinner and drinking.””

The recent downfall in the economy hasn’t affected all students.

“”You’re asking the wrong person,”” said Isabelle Dimang, a interdisciplinary studies junior. “”The economy really hasn’t affected me at all.””

Dimang’s family gives non-traditional presents for Christmas.

“”We don’t do Christmas exchanges, we usually just go on a family trip and go out to eat a lot and shop,”” Dimang said. “”This year, we are getting a beach house in Malibu for a week and half.””

Rather than her family decreasing spending habits to adjust to the economy’s downturn,

Dimang says she feels she and her family members are spending more.””There’s an economic depression?”” Dimang said sarcastically.

Other student consumers are planning ahead instead of reducing for their holiday shopping.

“”I’ll probably buy just as many presents, but I’ll definitely buy them earlier than I usually do,”” said Nicholas Jimenez, a marketing senior. “”I usually procrastinate, but this year I’ll have to buy them early before the holiday prices start going up.””

Jimenez will look online for his brothers and sisters’ gifts, because he can get better deals on clothing.

“”I’m not poor or anything … I just eat a lot of spaghetti,”” Jimenez said.