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How to avoid credit card debt during the holidays

Created: On December 6, 2010 @ 1:06 pm In

December is a big shopping month as people look for gifts for family and friends. To avoid overspending this year so you don’t derail your [1] debt reduction plan, make a pledge to only buy what you can afford. Use the following tips to avoid wracking up [2] credit card debt over the holidays.

Know your limits

Sure that 52 inch TV would look great hanging on the wall in your living room. But does the price tag for such an expensive gadget fit into your budget? Don’t even think about heading out to shop without putting together a list of who you plan to buy for and how much you can afford to spend per person. Don’t just have a vague figure in your head. Actually write down a plan of action and follow it.

Pay cash for purchases

That means you either need to have cash in your wallet or use a debit card to access money in a bank account. Cash is best because you’ll likely spend more time shopping for the best deals to make your money stretch. Debit cards also keep you from spending what you don’t have, but if you don’t keep track of your purchases there is a risk of overdrawing your account.

The gift of debt counseling

If you can’t curb the impulse to spend no matter what you do, consider getting help from a [3] debt counseling firm. Getting help with debt can allow you to get at the root of spending issues, which could be the most important gift you receive all year.

Article printed from DebtHelp.com Blog: http://www.debthelp.com/blog

URL to article: http://www.debthelp.com/blog/2010/12/06/how-to-avoid-credit-card-debt-during-the-holidays/

URLs in this post:
[1] debt reduction: http://www.debthelp.com//
[2] credit card debt: http://www.debthelp.com/blog/2010/11/29/3-things-to-review-before-opting-for-a-retail-credit-card/
[3] debt counseling: http://www.debthelp.com/debt-consolidation/credit-counseling.html