How to Minimize or Avoid Holiday Debt

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

9 Tips to Ensure You’ll Have Enough to RetireFamily

Here's advice to dodge snowballing debt this month.

We just mentioned how some people are still paying off last year’s holiday splurges. has a story on avoiding spending mistakes this year. Here’s a few of their tips…

1) Make a budget and a shopping list. Start with what you spent last year and then keep a record of all gift purchases and holiday expenses–from postage stamps to the food for the office party. It is hard for shoppers to make a budget and easy to underestimate their spending. The average holiday shopper will spend $749 on gifts, according to a survey by the National Retail Federation. The survey shows that people will spend $421 on children, parents, and other relatives, $75 on friends, $23 on co-workers, $28 on others, $100 on food and candy, $28 on greeting cards and $19 on flowers.

2) Change your shopping habits now before you get into the spirit of the season. If you can’t afford to pay off your credit card in November, then you can’t afford to add a lot more to it in December. Generosity to friends or the perfect gift for the family are not good reasons to put yourself deeper into debt.  If you must use a credit card to pay for Christmas, make sure you can pay it off by Easter.

3) The best way to stick to your budget and avoid impulse spending is to pay in cash. Pulling cash out of your wallet or purse and handing it to someone else is painful, and a reminder that the less you spend, the more you can keep.

Find several more pieces of advice at the link above, plus our recent stories on holiday shopping below.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: Sam’s Club Reveals Details of Black Friday, 5 Other Holiday Sales

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,715 more deals!