‘Tis the Season of Giving… & Spending

Not having a budget for holiday shopping can cause financial stress. NBC10’s Katy Zachry has advice from an expert who says having a budget for the holidays is important because if you don’t, it will come back to haunt you. Here are some additional tips: The average spent last  year for the Holidays was $800 (based on average household income of $50,000).So, if you make $25,000 then budget $400…Allocate the budgeted amount by the number of gifts you need to purchaseIf you have a savings account that’s separate from your day-to-day checking account, then save the money in that account prior. If you need to use a credit card, by starting to shop early, you may be able to spread the bill over two or more credit card billing cycles so as not to be hit with a big bill all at once.Take advantage of sales if possible