By By Amanda DeCamp

With Black Friday having come and gone and Christmas and Hanukkah drawing near, students find themselves with empty wallets and credit cards maxed to the limit.

It does not help that Roosevelt Field, the fifth largest mall in the country, is a mere five minutes north of the campus. Students often forget about how they must work overtime to pay their bills following the holiday season and instead visions of extravagant gifts like Louis Vuitton bags, Burberry polos and X-Boxes dance in their heads.

Despite the record high sales during Black Friday, a National Retail Federation survey found that young adults are nowhere near finished with their holiday shopping. The survey estimated that 54.6 percent of shoppers 18-24 years old have completed only 10 percent or less of their holiday shopping. The total spending during Black Friday weekend was estimated at $27.8 billion, which was a 21.9 percent increase from last year’s total, as the National Retail Federation survey stated.

An estimated 79.1 percent of 18-24 year-olds went shopping during Black Friday and speny an average of $247.42, a 2005 Black Friday survey by age from the National Retail Federation stated. The survey also concluded that approximately 58.7 percent of this 18-24 year-old age group spent their money on books, CDs, DVDs, videos or video games and approximately 49.1 percent on consumer electronics and computer-related accessories. Another 46.4 percent spent their money on clothing and clothing accessories.

Since holiday shopping is far from over for many young adults, a good thing to keep in mind is that it is not what you buy or how much you spend, but the gesture is all that counts.

One may find it helpful to recall the Christmas classic, Gift of the Magi by O. Henry this season. For months Della saved to buy her husband Jim a present, but the day before Christmas she only found herself with $1.87. Della decided to sell her hair, her most valued possession, for $20. She hurried off and bought him a chain for his watch, which was his most prized possession. Jim arrived home and saw that she had cut off all her hair. As he grew pale he gave Della her gift. It was a set of expensive combs, which she had long admired through a store window. She was optimistic and responded to the gift by saying that her hair grows fast. After he opened the chain for his watch, which Della had purchased, he revealed that he had sold his watch in order to buy her the combs.

This young couple was just about as wise as any student who spends all of their savings to make their partner, friend or relative happy when really much less than a fortune is needed to do so. The moral students can learn from this tale is that the holidays are about giving love and love is not measured by how much one spends.

The three Magi, or the Kings of the east, depicted in the Gospels, “invented the art of giving Christmas gifts,” according to Henry. They brought gold, frankincense and myrrh to Jesus on his birthday.

It seems that the origin of all gift giving set the standards high and that tradition has not changed much over time. Boyfriends and girlfriends also exchange extravagant gifts. Some girls are even known to bluntly tell their significant other exactly what it is she wants, or what page it is on in the Tiffany’s Catalog.

“I would let my boyfriend pick out my present because then there is more thought, behind what he got me and its more exciting to be surprised,” Meghan Radonis, a sophomore, said.

In eighteenth century Williamsburg, Va., things seemed a bit more practical since only the masters or parents gave gifts to those who were dependent on them, such as their slaves or children. It was not a mutual gift giving and the presents that were given were usually small money tips, candy or books.

Even though nowadays it is nice to buy presents for parents and older relatives, as well as friends and significant others, this can be costly and overwhelming. Organize spending, and save while being more thoughtful than ever this season.

Remember, a good present does not have to be expensive. Some of the thoughtful projects and searching for sale items can without a doubt be time consuming. However, shopping is a rather fun way to procrastinate while studying for finals, probably not the best idea though. Enjoy shopping and try to keep in mind the wise wit of Winston Churchill this season, “You make a living by what you get. You make a life by what you give.”

Even though Black Friday has passed, holiday shoppers are still going at it and in most cases emptying their bank accounts in the process.