Holidays

Holiday Surviving Guide

Pay with cash. Spend money you already have: Use debit cards, cash, or write checks.

Make a budget. Don't only make a per person budget, but an overall budget for all of your holiday spending. Then compare it with the amount you have available to spend. If it's more than you can afford, look for areas to trim expenses.

Keep track of how much you have spent on gifts, dining and entertainment. Make a list of travel expenses, holiday clothes, cards, postage, wrapping paper and decorations. Remember, little things like wrapping paper, shipping and tax add up, so put these things in to your budget.

Make a list of all of the people who you would like to give gifts to and rank them by priority on the list.

Know what you want to buy, and for whom, before you go shopping. Check to see what stores have the best bargains and make a list with the costs. After you finish your list, total the costs and prepare to spend only that amount in each store.

When you are doing the bulk of your gift buying it is a good idea to shop alone because it will help you avoid impulse spending. Don't shop while you're tired or hungry.

Steer clear of high price fad items and instead buy practical gifts that last longer such as clothes, tires, or appliances. Resist the little extra gifts. They often add up considerably and can break your budget.

If you are going to use your credit card, make sure it is one with a low interest rate and no annual fees.

Carry only one credit card to consolidate your spending. Using several cards simultaneously can make it difficult to keep track of your spending.

Think before using your credit card to take advantage of holiday "bargains." Comparison-shop, particularly for large ticket items. It's good to take advantage of these opportunities, but always ask yourself, "Would I buy this if it weren't on sale?"

Think about what you're charging -- it might be better to pay cash for those smaller purchases. Stocking stuffers can add up quickly, impacting your next statement's "New Balance" column.

Credit card issuers give you a line of credit based on information available to them about your financial situation, but you are the best judge of what you can comfortably manage. Just because you have a certain amount of credit available, doesn't mean you should use all of it between Thanksgiving and New Years.

Be creative. Some of the most thoughtful gifts cost very little -- a video of your family or a framed picture of your child for distant relatives or make gift coupon books for baby-sitting, cleaning the house, grooming a pet, washing and vacuuming a car. Fill a cookie jar with home-baked cookies and include the recipe. Some of the most appreciated gifts don't cost very much.