Questions to ask before going holiday shopping - Bills.com News

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Questions to ask before going holiday shopping

Wednesday, Nov 18, 2009
By Lucy Sanderson

Many consumers may be thinking of getting ready to do some holiday shopping soon. However, they should consider the overall state of their finances before they go spending money on gifts and other seasonal expenses.

A recent report from the Chicago Sun-Times noted there are a number of questions consumers should ask themselves before they embark on a run at holiday shopping.

"Self-inflicted financial pain that could have negative consequencesfor years to come is a gift to no one," Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling, was quoted as saying.

NFCC recommends that consumers consider a number of situations they may have faced. For example, if they have considered filing for bankruptcy or are using more than 30 percent of their available credit, people should consider avoiding spending a lot of money on the holidays.

There are, however, ways for people to save money during the holiday shopping season. For example,
some online retailers offer special deals on specific items, while other stores have brought back layaway programs, which can help people find some debt relief.

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