Stressed out holiday shoppers are planning to spend less on gifts this year, a new study shows.

And I, for one, couldn’t be more relieved.

After another year of wedding-related events and new baby festivities, I’m strapped for cash. And yet, somehow all my friends are buying up houses all around me. Man, I’ve got to get more money in the bank.

Fortunately, it’s trendy to be cheap this year. A recent study done by the Bank of Montreal indicates that Canadians will spend an average $1,517 on the holiday season in 2014. That’s a more than 16 per cent drop from last year. I can only assume it’ll be the same for our friends south of the border, given the state of the economic recovery.

In that bank’s study, most of the drop came not from travel plans, but from gift costs. No doubt the Pinterest crowd is having some influence here. More upcycling and baking, less mass consumerism.

But the reminder that gift-giving time is around the corner is both exciting and frightening. I’ve gained a lot of new skills with which to make more complicated crocheted and loomed gifts this year, but I’d better start my engine! Time to make a gift list…

Meanwhile, I’m snuggling up in this beauty that I made to go with my new winter coat.

It’s just a single panel made on the knitting loom, using the classic loom stitch over 24 pegs — 12 on each side. (Here’s a tutorial on that twisted knit stitch if you need a reminder).

I measured it around my neck as I went and when I figured I could slip my head through, I bound it off and tied a ribbon through it like a shoelace.

I figured the best way to do this was by putting a needle on the end of each end of ribbon and threading it through one side at a time. I cut about four feet or ribbon to let the tails hang extra long, but you could do less. I also secured the ends by melting them close to a candle flame to stop them from fraying. An alternative would be to tie them in knots.

The yarn I used was Loops and Threads Cozy Wool in a kind of mustard colour.

So, what did you do this week?

xo Jacquie