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Smart Spending While Holiday Shopping

By: Shannon Houser
By: Shannon Houser

It's the biggest deal day of the year and it's coming up at the end of this week, but experts are warning shoppers about the dangers of spending a lot at once.

Santa's not the only one with a list this year.

"If you're going Christmas shopping, you need to have that list and stick to that list," says Acting Executive Director of The Consumer Credit Counseling Service of the Mid-Ohio Valley, Tammy Gaston.

Credit experts are warning shoppers about the dangers of getting too deep into black Friday deals.

"Have a budget of what you're going to spend on everybody on that list. Don't go over that budget just because it's a good deal. You will find yourself spending way more money than you actually went out there to do," Gaston adds.

"I'm Christmas shopping for my kids. I think I've already spent maybe 600 dollars," says one shopper.

Another shopper says, "we do try to budget but sometimes it's hard when you're a grandma."

Experts say it's all about planning ahead.

Gaston suggests, "if you're gonna put it on a credit card, have a plan in place to pay that credit card off. Pick your lowest interest credit card. Of course the best thing is cash. Always use cash if you got it."

But if you have to use a credit card, be aware of stores trying to get you to sign up for one of theirs. Experts add it may sound like a good deal, but could get you into a lot of trouble with your credit score.

"You're going to get a lot of places asking you if you apply then you get a 25 percent discount. Be really careful with that because that's pulling on your credit report. If you apply for five credit cards that's gonna bring your credit score down," Gaston warns.

If you need help making a shopping budget you can contact The Consumer Credit Counseling Service of the Mid-Ohio Valley

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