FOR IMMEDIATE RELEASE:
For Visa Inc.
(703) 683-5004, ext. 133
It's that Time of Year Again – Holiday Shopping
Personal Finance Expert Offers Money Saving Tips for the Holiday Season
The holiday season is upon us and for better or worse, it's time to do your shopping. In this economy, however, it's no surprise that many consumers are tightening their holiday spending budgets. Some may plan to arrange a gift exchange among a group of friends, family or co-workers to only buy one gift for one person. Others will set a spending limit for each person on their list. But whatever you decide to do in order to rein in spending this holiday season, the following list of tips can help.
- Make a realistic budget and stick with it. Spend no more than 1.5 percent of your household annual income on holiday gifts and entertainment. A free online holiday budgeting planner is available on Visa's financial literacy web site at: "www.practicalmoneyskills.com/holiday.
- Have a 'micro budget' – a specific spending limit – for each person on your gift list.
- Don't 'panic shop.' Waiting until the last minute to buy presents increases the chance you'll overspend in order to get a gift – any gift – in time.
- Save money by getting creative. Store-bought gifts are great, but when you make a gift for someone they truly appreciate your time and effort.
- Join together with family members to help those who may be less fortunate and make your gifts to each other a group contribution to a charity.
"One of the best ways consumers can ensure that holiday cheer doesn't turn into a holiday hangover is to plan in advance by preparing a budget for gift and entertaining spending," says Jason Alderman, Personal Finance Expert and Director of Visa's Practical Money Skills for Life program.
WHO: Jason Alderman, Personal Finance Expert and Director of Visa's Practical Money Skills for Life
WHAT: Jason Alderman discusses how to avoid financial mistakes when holiday shopping.
CONTACT: To arrange for an interview with Mr. Alderman, please contact Angela Waugaman at (703)683-5004, ext. 133 or firstname.lastname@example.org.
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