(Undated)  --  More than a third of all shoppers are holding tight to their purse strings this holiday season.  

A report from Bankrate says 38 percent of consumers plan to spend less this year than they did last holiday season.  

Fourteen percent said they plan to spend more, while the rest said they'd shell out about the same amount.  Households earning less than $50,000 dollars a year are the most likely to cut back on spending.  

Bankrate's Greg McBride says many consumers "are still clutching their pocketbooks closely."