Holiday spending: avoiding long-term debt

Posted: 12.02.2009 at 5:44 PM

Tips to keep your spending in check

Limiting credit card use is one way of staying in your holiday spending limits

'You have to live within your means,' is the basic advice that money counselors give out during holiday shopping season. But doing it is hard, especially if you're pressured to make it a good Christmas for children and family.
Consumer Credit Counseling says that the economy is not helping: people who've been downsized and are earning less than they did last year, may still be trying to live on last year's scale. "Number one, avoid credit cards," says CCC of Central New York President MaryAnn Stark. If you stick to using cash, she says, you're less likely to overspend. She also suggests making a list of shopping priorities, and once those gifts are bought, get out of the stores, to avoid impulse buying.
CCC also says this is a good time to do a budget review: CCC does free counseling sessions to help figure out how much you really have, and what spending priorities should be. And, living within means, means goodbye to the stress of overdue bills, come the new year. For more information, 474-6026 or 800 479-6026, or you can start the budget help process at http://www.cccscny.org/