Moms Cut Back On Debt Ahead Of Christmas Season

LOS ANGELES (CBS) — When times are tough, all of us cut back on spending, but in the current economic downturn, the ones leading the thrift movement are mothers with kids.

KNX 1070's Pete Demetriou Reports

A Citigroup survey showed almost half of mothers are uncomfortable with their level of debt — a 10-point jump from 6 months ago — and that 80 percent are cutting back on all kinds of everyday expenses, and that includes their planned Christmas expenses.

The national survey indicated spending cuts will be a permanent part of their habits going forward.

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• Economy
• Christmas