Holiday Spending Makeover In Three Simple Steps

MILFORD — Holiday spending can be a joyous activity that adds to holiday celebrations or it can be an adventure that simply adds up to debt. Consumer Credit Counseling Service (CCCS) of Southern New England advises consumers who want to be sure to be in the former category to perform a holiday spending makeover.

“Emotions and passions are at a peak during the holidays and if not held in check while shopping, may cause consumers to go overboard,” said Steve Bucci, president, CCCS of Southern New England and author of the national weekly column, Debt Adviser.

 “Even Santa starts with a list! Consumers who shop with a plan and stay in control are much less likely to end up in debt from holiday spending,” he said.

CCCS offers the following simple holiday spending makeover steps:

Plan before you spend. The adage “make a list and check it twice” is wise. Create a holiday spending list and include everyone for whom you will be shopping and put a price limit on each. Also add greeting cards, food, and decorations to your list. Determine how much money you will need to satisfy everything on the list. If you do not have enough to cover the total expense, you will need to trim more than the holiday tree. Spend less on each person; consider a gift of your time or something homemade or cut back on decorations or other expenses.

Spend only what you can afford. The best way to avoid going into debt is to keep your list with you while shopping. Keep track of purchases and add them up as you shop. If you spend more than planned on one person’s gift you will need to spend less on something else on the list.

Stop shopping when you are done. Once you have accomplished buying everything on your list, stay out of the stores and do not visit your favorite online retailer. Holiday cheer and end-of-season sales often combine for a spending temptation that most people cannot resist. Keep your resolve and do not undo all the good you have done staying within your spending limit.

For more information on managing finances while on active military duty, help with debt problems, or other personal financial management issues, contact CCCS at 800-208-CCCS (800-208-2227) or visit its website at www.creditcounseling.org.

CCCS is a nonprofit and a certified housing counseling agency with offices in Massachusetts, Connecticut, and Rhode Island. Connecticut offices are located in Danbury, Cromwell, East Hartford, Groton, Milford, Norwich, and Stamford. CCCS is accredited by the Council on Accreditation of Services for Families and Children, Inc, and is a member of the National Foundation for Credit Counseling (NFCC).