AICCCA Press Release

AICCCA Advises - Plan now for Holiday Expenses
Recession easing no excuse for overspending

Fairfax, VA - October 14, 2010 — The National Retail Federation recently released its forecast for holiday spending, predicting a slight 2.3 percent increase for 2010. With signs that recession may be easing, consumers may be tempted to spend more than they can afford after a few years of belt-tightening. The Association of Independent Consumer Credit Counseling Agencies advises consumers to plan carefully for holiday expenses.

"While it is easy to understand the desire to make up for the last few years, holiday spending that is unplanned can quickly spiral out of control," said Dave Jones, president, Association of Independent Consumer Credit Counseling Agencies. "Without proper planning, families are more likely to spend more than they can afford and put themselves into deeper debt in 2011."

AICCCA offers the following tips to keep holiday spending under control:

• Know how much you can afford to spend. Take a hard look at your household budget and determine the amount of money you can spend without having to rely on credit cards. If you must buy some items on credit, be sure that you can pay off the cards in 90 days or less.



• Know who you are buying for. Make a list and assign a dollar amount that corresponds to the overall budget. Don't forget to include decorating and entertaining costs and make adjustments as necessary to stay within the spending plan.



• Know when to stop shopping. Just like grocery shopping with a list, only buy the items on your list. Once your list is complete, vow to stay out of the stores until the holidays are over.