To avoid going into debt to pay for holiday expenses, Ms Rhode recommends developing a plan to pay for your holiday purchases and sticking with it.

“Do the same thing that Santa does; make a list and check it twice!” Ms Rhode said. “By planning ahead and developing a game plan, you can avoid the impulse buys and high credit card bills that drastically increase holiday expenses. That can save you big money after this holiday season is long forgotten.”

Some holiday shopping tips from Ms Rhode include:

Start shopping now. The more time you allow yourself to find the perfect gift, the more time you have to shop around for the best deal.

Carry only two credit cards when shopping. Use one with a zero balance for purchases you will pay off in full. Use the other, low-interest-rate card for purchases you will pay off over three to six months.

Record all of your purchases in your checkbook register. Even if you don’t write a check, subtract the amount of the purchase. That way, when the bill arrives, the money will be in your checking account to pay the bill in full. Avoid “skip payment” offers that cause you to pay more interest and face larger bills.

Avoid “buy now and pay later” offers, which encourage you to spend money you don’t have.

The annual Myvesta Holiday Survey was conducted November 5–7 in a random telephone survey of 1,000 people. Some other survey results include:

For information on getting the most of your holiday dollars, read the Myvesta publication How to Cut Your Holiday Bills in Half Without Feeling Like a Scrooge. It can be downloaded free online from Myvesta.org, or for printed copies send $2.50, payable to Myvesta, to Cut Holiday Bills Publication, Myvesta, PO Box 8587, Gaithersburg MD, 20898-8587.

Myvesta is dedicated to helping people create healthy financial lives. The organization provides a wide range of materials to inspire and inform people so that they can break down their barriers to financial and personal success. For more information visit Myvesta.org/ online.