Rick Munster Profile Picture
Staff Writer at Debt Reduction Services

Use these 7 holiday spending tips to avoid credit card debt this season.

Holiday Spending Tips 2011

It seems to me that each year Black Friday sneaks up sooner than the previous year. You would think that I’d be prepared, after all I’ve written on the subject a few times before. Looking at the calendar this morning it dawned on me, I’d better start my holiday spending plan right away.

Black Friday can present some excellent savings opportunities if you are able to save enough money to make your holiday shopping a ‘cash only’ experience. Otherwise, if you rely on credit cards to make your purchases things can add up quickly and when the last purchase is made you could be facing months of payments to get caught back up.

Here is a reminder of a few tips we feel will help you budget a “cash only” holiday season:

  • Begin saving now for Christmas shopping and Holiday activities. Starting in July would be ideal, but now is better than later.
  • Create a list of people you would like to give gifts to and assign each person a dollar amount.
  • Shop early, before the Holiday rush. Shopping early allows more opportunities to find deals.
  • Make any Holiday travel arrangements early. Be flexible on dates and times you are willing to travel.
  • Think outside of the box for gift ideas like a free night of babysitting or one house cleaning.
  • Stick to your budget. Be satisfied with how much you’ve chosen spend and don’t let last-minute temptations get the best of you.
  • Cut costs when planning family outings. Attend concerts and activities provided by the community. (Some are free).

Remember, the goal is to avoid using credit at all costs. That includes applying for new lines of credit, small loans, or credit cards. Definitely, avoid payday loans to help you make holiday purchases as the backlash can have tough consequences. By going “cash only” you can stop the overspending trend and begin your New Year on a positive note.

That’s well worth the effort!

Do You Have Questions About These Holiday Spending Tips?

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If you need more information on managing your holiday spending or have any other questions about improving your personal finances, please feel free to comment below and we’ll answer as right away!

  1. Lauren

    Th most important thing for many shoppers to remember is to stay within the budget spending. No point overdoing it. And to also take safety into consideration as you need to make sure your items are not fully displayed in your car where thieves could break in.

    Lauren

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