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Stay Out Of Debt This Holiday Season

By: Travis Knudsen

According to a study done by Accenture, 44 percent of all Americans will be shopping on Black Friday.  Many of which will accumulate debt that is difficult to pay off.  However, there are a few ways to stay out of debt when purchasing gifts this season.

The holiday season is quickly approaching, which means nearly everyone is going to be buying gifts for friends and family.

"Sometimes it's some big ticket items that are available on Black Friday at  particularly good prices.  A big screen TV, a new computer.  But are they things that you would be purchasing anyway?  Are they things that may help you reach that personal or family goal?" Said Sara Gilbert, a debt relief specialist for GreenPath Debt Solutions.  She says that holiday shopping can be a slippery slope.

"Sometimes that assumption of charging things now, thinking 'Well I'll pay for it later.  I'll have the money later.'  That can get you into trouble."  She said, "Try to keep yourself out of the excitement of the buying season and the sales.  Just don't buy things you don't need or can't afford."

But she also says there are things you can do to help keep yourself from racking up the debt this season.

"Make a list and start that list now.  So you're ready when Black Friday comes along.  So you have a good notion of what you're going to spend for each person that's on your list.  Santa does it so we can too."  Gilbert said.

But most of all, Gilbert emphasizes buying big gifts this year doesn't make the season.

"There are things this season that don't need to cost money.  Most of us have very fond holiday memories and they may not involve gifts, they may involve activities that you have participated in.  Services you attended, family that you spent time with, tress you decorated.  A lot of time that doesn't cost anything, so don't forget the free things." Gilbert emphasized.