It’s official, I just saw my very first Christmas commercial of the season. It’s starting. Each year it seems like vendors bust out the holiday advertising earlier and earlier. But it was a good reminder that some serious holiday budgeting is in order. Word to the wise, start creating a budget early (i.e., now-ish) for holiday spending and stick to it. I found this incredibly helpful and informative article by Donna Fuscaldo of Fox Business that teaches consumers how:
“Many consumers fall into the trap of overspending during the holiday season and start the New Year buried in credit card debt. But not this year. By taking the time now to create a budget, increase savings and start researching for bargains, shoppers can start 2013 in the black.
“The holidays is a very expensive time and there’s a tendency for people to put it on a credit card and carry the balance over into subsequent months,” says Jason Alderman, senior director of financial education at Visa (V). “Buying that fruit cake and still paying interest on it for six months, is that really worth it?”
The answer is no. The holiday decorations haven’t quite made it to store windows, but consumers need to create their shopping gift and budget now, and stick with it throughout the season.”
Click here to get Fox Business’s tips for creating a manageable holiday budget.
The last thing anybody wants is to start off the new year with a hefty credit card bill, so taking the time to plot out how you will spend your hard-earned dough this holiday season can save you a major headache (and some costly bills) in the New Year.