Holiday Shopping Without Going Broke

Take it from Santa - holiday gift giving takes skill and careful attention to details. Otherwise, you could end up with some post-holiday bills that are naughty and not so nice.

"The first tip to keep you from going broke this Christmas is to establish a budget," said Kim Womack, director of education, Consumer Credit Counseling Service of South Texas. "Many Americans don't have a holiday budget, and those that do often don't stick to them."

Without a budget to guide your spending and expenses, you can go through a lot of money in a hurry. In fact, many Americans do not total their holiday expenditures until the bills start rolling in sometime in January. By then, Womack says, there is not much they can do.

Here are some suggestions from CCCS on how to manage your holiday expenses responsibly:

Create a spending plan. Determine how much you can afford to spend, then put that number in writing and stick to it. Remember that what we want to spend and what we actually afford to spend may be different.
Include all holiday expenses in your budget. While gifts are the first things that come to mind, don't forget holiday meals, gift wrap, greeting cards, postage, and travel expenses.
Make lists of gift recipients. Write all the names down, divide them into categories, and decide how much you want to spend on each category. This will give you an idea how much to spend on each person.
Set aside shopping time. Shopping may be America's favorite pastime but it is also a lot of work. Do as much from home as possible using advertising flyers, phone book, the Internet and holiday catalogs. Confirm prices, inventory, and comparison shop from the comforts of your own home. When venturing out to the malls, know exactly which stores you will visit and what you intend to buy.
Stick to your budget. As the holidays draw nearer, you may be tempted to buy this new gadget or that new gizmo. You may also feel the need to buy just any old thing in order to get your shopping over with. Fight off that last minute temptation and stay firm.

Stick to your budget and you won't have to worry about post-holiday bills when the New Year starts. And remember when buying gifts, it is the thought that counts.

For additional holiday shopping tips, contact CCCS at 1-800-333-4357 or visit their web site at www.cccsstx.org. CCCS is a national nonprofit, United Way agency and a member of the National Foundation for Credit Counseling. The agency provides free budget and credit counseling, guidance, debt repayment plans and educational services.