Set a plan for holiday shopping to stay within budget.
RISE: HOLIDAYS ARE HERE. DO YOU PLAN TO BE FRUGAL OR LAVISH? I’M RISE JILL MILLER.
ACCORDING TO A COTTON INCORPORATED LIFESTYLE MONITOR SURVEY, DESPITE ECONOMIC HARDSHIPS, MOST SHOPPERS DON’T PLAN TO CUT HOLIDAY SPENDING THIS YEAR. SEVENTY-EIGHT PERCENT OF CAUTIOUS CONSUMERS SAY THE’RE PLANNING THEIR HOLIDAY SHOPPING AHEAD OF TIME, UP FROM SEVENTY-THREE PERCENT IN TWENTY-TEN.
MICHELLE THORNHILL, SENIOR VICE PRESIDENT AND AFRICAN AMERICAN SEGMENT MANAGER, WELLS FARGO, HAS TIPS TO KEEP HOLIDAY SPENDING IN CHECK:
MT: FIRST, BEFORE YOU SHOP CREATE A HOLIDAY SHOPPING BUDGET THAT IS SEPARATE FROM YOUR REGULAR HOUSEHOLD BUDGET. TRACK IT REGULARLY AND BE REALISTIC WITH GIFT CHOICES. AVOID USING CREDIT CARDS FOR HOLIDAY SHOPPING, BECAUSE YOU DON’T WANT TO ACCRUE MORE DEBT THIS HOLIDAY SEASON. ALSO CONSIDER SETTING ASIDE FUNDS THROUGHOUT THE YEAR WITH AN AUTOMATIC SAVINGS ACCOUNT TO HELP MANAGE FINANCES AND HOLIDAY SPENDING FOR THE FUTURE.
RISE: FOR MORE HOLIDAY SHOPPING TIPS, VISIT WELLS FARGO DOT COM SLASH ASPIRATIONS.
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