Editor’s note: This is a transcript of the audio file.

Holiday shopping season is now in full swing and many people will gauge the health of the economy on how much consumers are spending online and at the mall. I’m Kristin Arnold with your Bankrate.com Personal Finance Minute.

Bankrate.com is out with the monthly Financial Security Index and here with insight on consumer’s holiday spending plans is Greg McBride, senior financial analyst for Bankrate.com.

“Forty-two percent of Americans say they intend to spend less this holiday season than they did a year ago … and sorry kids, but nearly half of parents, 49%, say they intend to spend less this year than last year. Only about 1 in 10 Americans say they expect to spend more this holiday season.”

And what about their overall level of financial security?

“The Financial Security Index fell for the second month in a row. It was dragged lower by mostly lower levels of job security. Only about 1 and 8 Americans feels more secure in their job today than they did 12 months ago. The Financial Security Index is at the second lowest level of the year and it’s behind only that abysmal August reading.”