Get Your List Together, It’s Six Weeks until Christmas
Tomorrow is November 13 and Christmas is just six weeks away. Where did the time go? Economic forecasters are predicting this will be the worst shopping season in decades. If news on the economy is leaving you feeling like a scrooge this season, Consumer Credit Counseling Service of Greater Dallas (CCCS of Greater Dallas) offers the following tips to lift your holiday spirits.
(Vocus/PRWEB ) November 12, 2008 -- Tomorrow is November 13 and Christmas is just six weeks away. Where did the time go? Economic forecasters are predicting this will be the worst shopping season in decades. If news on our economy is leaving you feeling like a scrooge this season, Consumer Credit Counseling Service of Greater Dallas (CCCS of Greater Dallas) offers the following tips to lift your holiday spirits.
"Budgets are stretched extremely tight during this economic downturn, so consumers will have to pay extra special attention to how they spend this holiday season," said Todd Mark, vice president of education for CCCS Dallas. "Now is the time to think about your plan of action for holiday shopping."
Use the following ideas to create a holiday budget that will stretch your dollars and prevent holiday debt so you can avoid starting 2009 off in the red.
| | - Start with a detailed budget. Write down every purchase you will make for the holiday season. Include everything – gifts for your family, friends, neighbors and co-workers, food for dinners and parties, travel expenses, shipping, wrapping and decorating your home. Place a dollar amount for each purchase and list out your recipients. It’s usually the minor expenses that ruin our budgets so creating a list for each and every expense will help keep your budget in line.
- Shop ahead of time and create a plan. Most retailers are now online, allowing you to research and compare prices to prepare a plan of action. Planning ahead of time will prevent emotional spending and impulse shopping. If you plan to shop on Black Friday, review the sales ads on Thanksgiving and map out an itinerary to plan an efficient route. Plan to wake up early… getting that door-buster could save you the money you need to purchase the other items on your list.
- Use credit cards and methods of payment strategically. Only use your credit cards with the lowest interest rates and don’t charge anything you can’t safely pay off in three months. If you do not have the discipline to use credit responsibly, it’s best to withdrawal your budgeted amount of holiday cash and leave your credit cards at home.
- Avoid department store credit cards. Retailers will be promoting extraordinary deals accompanying your submission of a credit application. While a free gift or a 10 percent discount can be tempting when money is tight, remember that signing up for department store cards will only lead to more debt and a diminishing credit score.
- Don’t count on money you don’t have. With the tight economy, the holiday bonus you’ve come to count on may be smaller than in previous years or non-existent altogether. Don’t include that money in your holiday budget. If you do receive a bonus, put it directly into a savings account. The money will go to better use for a major purchase or financial security, than a toy your child may become bored with in a few days.
- Get a second job. If you don’t have enough money for holiday expenses, consider getting a second job. Now is the time to apply for seasonal positions. However, expect there to be more competition this year for these positions because of the projected slow shopping season. Also, apply for positions at stores where you plan to buy the most gifts. The employee discount could be worth your time working a second job for the savings you’ll receive.
- Finally, remember the reason for the season. Many consumers will not be able to please everyone on their list this year with tangible items, but everyone can give the “gift of love.” There are many things your loved ones need that don’t require you spending money. Consider giving a night of babysitting for a busy couple, a day of errand running for an elderly relative, or helping a friend with some handy work around the house. These gifts are special reminders that the holiday season isn’t all about spending.
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Todd Mark, vice president of education for CCCS of Greater Dallas, is available to discuss additional holiday savings tips. To schedule an interview with Todd, please contact Anthea Holley at 972-716-0500, ext. 38 or Emily Bruce at 972-716-0500, ext. 21.
About CCCS of Greater Dallas:
Consumer Credit Counseling Service of Greater Dallas, Inc. is a nonprofit, community based credit counseling and debt management service. Established in 1974, CCCS Dallas and its affiliate offices provide financial education and counseling to consumers in-person, by phone, or Internet through their 24 locations in four states. CCCS Dallas is a HUD approved housing counselor and serves as one of 10 counseling agencies supporting the 888-995-HOPE Hotline. The agency is also a member of the National Foundation for Credit Counseling (NFCC), the nation’s largest and longest serving national non-profit credit counseling network. To learn more about CCCS Dallas’ free seminars or the agency’s services, visit www.cccs.net.
Contact:
KyLea Ingram
Phone: (972) 716-0500 x30
Email: kylea.ingram @ hck2.com
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