FAYETTEVILLE, Ark. (KNWA) — Between everyone on your holiday list and plenty of store deals, money can slip out of your wallet at record speed during the holidays.
The Credit Council of Arkansas reports 35 percent of people plan to spend more than $500 on gifts this year, a 2 percent increase from 2017.
Mark Foster with the Credit Council said holiday shopping can easily spiral out of control.
Being honest with your financial situation, setting a strict spending budget and sticking to it can help avoid overspending.
“Lot of times it’s easy to get excited and get carried away with the joy of the season and overdo it, but then people are struggling to make ends meet, pay for their rent or car payment.,” Foster said.
The Credit Council reminds you credit cards aren’t the only danger with holiday shopping.
Paying with cash can also set you way behind.