AICCCA Offers Five Ways to Cut
Holiday Expenses Without Being a Scrooge
Fairfax, VA - October 4, 2007 — If the idea of the upcoming holiday season and the expense that goes with it has you thinking "Bah, humbug!" the Association of Independent Consumer Credit Counseling Agencies (AICCCA) recommends you rethink the way you spend your money during the holidays.
"Getting into the spirit of giving too often makes consumers spend more than they can afford," says AICCCA President Dave Jones. "Planning for holiday spending and knowing how much money is available is crucial to avoid overspending."
If you've looked at the budget and realize you need to make some changes, AICCCA offers five ideas for making the transition to a less-is-more holiday season.
Draw names.
One sure way to spend less money is to buy for less people. If you buy for a large circle of people that are all connected (like families or co-workers) this is one quick way to eliminate many gifts from your list. Some families put adults and children in two separate drawings or they can be combined. Even if everyone does not want to participate, you should be able to eliminate at least a few gifts if you draw names.
Set a dollar limit.
Whether you draw names or not, you need a complete list of every person you will buy for. Assign a dollar amount to each name. As you purchase gifts, be sure to mark them off the list and also note the exact amount spent. If you can't resist going over on Aunt Lucy's shawl, you'll need to make up the difference in someone else's gift.
Make a charitable donation in someone's name.
This is the perfect gift for someone hard to buy for. It also comes with an added bonus for you, in the form of a tax deduction. Giving money to a charity is also a wonderful way to teach children what the saying "It is more blessed to give than to receive" really means.
Give baked goods, handmade items and secondhand gifts.
Making something special for someone, whether it's a hand-knitted sweater or a tin of homemade cookies, shows you care enough to spend not just money, but time on them. Many unique, one of a kind items can only be bought secondhand. Again, spending the time to research gift ideas tailored to specific people on your list makes your gift special, without spending too much money. Used bookstores, garage and estate sales and secondhand stores should not be overlooked.
Try old-fashioned entertaining, decorating and gift-wrapping ideas.
Potluck suppers will allow everyone to contribute to a holiday affair. Stringing popcorn and cranberry chains for decoration while watching a holiday movie might become your favorite family activity this year. Don't forget that the Sunday comics make wonderful gift-wrap.
Finally, AICCCA recommends that all purchases be made with cash on hand using cash, check or debit card. When shopping, leave your credit cards at home so you won't be tempted to buy something that was not planned for. Don't forget to plan for next year. Save your list and receipts to help you plan. Consider utilizing a holiday savings account next year and use this information to target the amount you will need to save so that next year you'll be prepared to be more like Santa and less like Scrooge.
Founded in 1993, Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services. AICCCA and its members are focused on improved creditor relations, efficient processes and advanced technology to best serve clients and creditors. AICCCA members are independent nonprofit agencies that advocate for debtors, counsel millions of consumers annually nationwide and provide debt management services to consumers with excessive unsecured debt. For more information or to contact an AICCCA member office call 866-703-TRUSTAICCCA (866-703-8787) or visit www.aiccca.org.
