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Poll: Many spending less for holidays

Shoppers walk through Brookfield Square Mall in the early morning hours on November 26, 2010 in Brookfield, Wisconsin. Shoppers turned out early to get in on "Black Friday" sales on the official first day of the holiday shopping season as retailers hope the improved economy will translate to big sales numbers. UPI/Brian Kersey
Shoppers walk through Brookfield Square Mall in the early morning hours on November 26, 2010 in Brookfield, Wisconsin. Shoppers turned out early to get in on "Black Friday" sales on the official first day of the holiday shopping season as retailers hope the improved economy will translate to big sales numbers. UPI/Brian Kersey | License Photo

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ENGLEWOOD, Colo., Dec. 6 (UPI) -- A survey by Western Union indicates that 48 percent of women and 35 percent of men plan to spend less this holiday season than in previous years.

The Western Union Payments' quarterly Money Mindset Index survey also suggests 30 percent of adults have hidden gift purchases from their spouse or a significant other.

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One in three women questioned in the survey said they are decreasing their list of gift recipients for this year. One in four men said the same.

Western Union said two out of three members of the millennial generation, defined as those born between the mid-1970s and the early 2000s, have created a holiday budget and 16 percent said they are planning to skip gift-giving in favor of financing a vacation, the survey suggests.

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