Money Monday: Preparing to pay your holiday bills - Dallas News | myFOXdfw.com

Money Monday: Preparing to pay your holiday bills

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Counselor David Flores from Greenpath Debt Solutions joins Murray Feldman on Fox 2's Money Monday to offer sound advice on preparing your wallet for the upcoming holiday season.

HOLIDAY SPENDING:

Halloween - $80 spent last year on decorations, costumes and candy (National Retail Federation, 2012)

Thanksgiving - $50 spent on Thanksgiving dinner for 10 (American Farm Bureau Federation, 2012)

Christmas - $859 spent on gifts (American Research Group, 2012)

$989 on holiday spending

Set aside $20 a week, starting today, and by December 15, you'll have $260 towards holiday gifts. If you use your credit card, having that extra cash set aside will take pressure off your debt, when 2014 rolls around.

WAYS TO SAVE -- Build a budget and stick to it!

Halloween:

  1. Consider reaching out to family and friends who may have costumes left over from last year.  Many are worn once.
  2. Buy the candy you like least!  (This will stop the temptation of eating it before the actual holiday and save you from running back to the store when the candy is no longer on sale.)
  3. Clip store coupons for candy sales.


Gift shopping:

  1. Start watching for layaway options at the big box retailers.  (Paying a bit at a time can ease the stress on your credit card and will have you stay committed to that gift. But read the fine print first – are there fees associated with the layaway program?)
  2. Many people shop year-round – start your list and watch the sales ads now.
  3. Compare in-store and online pricing.

Green Path Debt Solutions
36500 Corporate Drive
Farmington Hills, MI 48331

800-550-1961
Call us. We can help.

 

 

 

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