Monday, Oct. 10, marks Columbus Day 2011.

Children are excited to have a day off from school. College kids use it as an excuse to throw parties Sunday night. Employees (the lucky ones) use it as a day to sleep in.

And if you happen to be one of the eager shoppers waiting for a good deal, you are in luck. Columbus Day is rife with sales and coupons for every penny pincher.

H&M is currently offering a coupon worth 25 percent off one item of your choice. This offer is valid until Monday, one coupon per customer.

Lord & Taylor is featuring a savings of 15 percent on regular and sale merchandise with the coupon code CDAY, according to Bargainist. If you have a Lord & Taylor card you can punch in the code CDAYPLUS and save an extra 10 percent on top of the 15 percent. This offer expires on Monday.

The GAP is offering a massive 50 percent off on all of its products.

Macy's has some great online-only sales including an extra 15 percent off plus free shipping as well as 25 percent off all clearance items.

The LongHorn Steakhouse coupon for the month of October offers $4 off a purchase of two entrees and is good until Oct. 16.

If you are in New York City, the 59th Annual Columbus Day Parade will float down Fifth Avenue featuring 35,000 marchers. Over 100 groups, including bands, floats and contingents. Nearly one million spectators.

Then you can go to ESPRIT in Columbus Circle (or online) to save 30 percent off all weekend.

If you are in Chicago, Kara DioGuardi, who is currently performing in Chicago and formerly hosted American Idol, will make an appearance. CNBC's Maria Bartiromo and actor Joe Piscopo will host.

So, in honor of Mr. Columbus, make like any good American consumer and go buy something nice or watch some floats.