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Watch Your Budget During Holiday Shopping

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Background: 

  • The  National Retail Federation said it expects holiday retail sales to rise between 3.8% and 4.2% over 2018 to a total of $727.9 billion to $730.7 billion.
  • Despite being worried about debt, consumers will still spend an average of $1,679 on gifts this year, 75% more than last year, Experian found.

Advice:

  • Budget your holiday spending and stick to that budget.
  • Spending time with loved ones and friends is more important than the size of the gift.
  • Avoid being overwhelmed in January, when the credit card bills arrive.
  • Don’t get taken up in the need to overspend.
  • It’s a great time to celebrate but don’t feel pressured into over-the-top gifts.