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There won't be any brightly wrapped packages under Annette Peterson's Christmas tree this year.

Peterson, a 34-year-old from French Lick, Indiana, was out of a job as of the end of last week, and there's no extra money to buy presents.

"It's really tough," said Peterson, a hospital registration clerk who contacted CNN through iReport.com. "I feel pretty guilty this holiday season."

Last year, Peterson and her husband, who works as a graphic artist, spent about $600 on gifts for their 3-year-old daughter. This year, Peterson wonders whether they'll have enough money to pay the electric bill and buy groceries. See how consumers are cutting back

"It's killing my husband not to be able to buy me a gift this year," she added, "but our bills are three and four weeks behind." iReport.com: 'I'm right there with everyone else' Read full article »

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