Plan Ahead for Spending During Holiday Shopping Season
The holiday shopping season officially kicks off today – and a study from the National Retail Federation predicts consumers will spend as much as $1.1 trillion dollars.
But as retailers prepare for one of the busiest weekends of the year, consumers should also make financial plans to avoid overspending during the holiday season. The average American is expected to spend just over $1,000 on gifts, and with the economy doing so well, some shoppers are already looking to spend up to $500 more than they did last year.
To avoid going over your goal, it’s recommended to avoid using credit cards – especially if you don’t plan to pay them off by the end of the month.