Holiday debt: How to avoid it this year - FOX 10 News | fox10phoenix.com

Holiday debt: How to avoid it this year

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It's easy to get caught up in the joy of giving, and by January, you may have quite a credit card hangover.  But before you find yourself buried in debt, the FOX 5 I-Team's Dana Fowle has some ideas on how you can rein it in this year.

Some people haven't changed more of their holiday shopping than they should, but some have.  It's easy to get caught up in sales and the fun of giving, and simply buy too much.  

So how can you avoid that larger-than-expected post-holiday bill?  Make a budget—and stick to it.  Then, make your gift list before you go out.  This does wonders for saving money.  

One website, www.lowcards.com, is a credit card resource center.  It recommends that if you do end up charging Christmas, you should make sure it can be paid off by March.  

And, if you've got rewards points on a credit card, the holidays are the time to use them.  

Lowcards.com also recommends that after you make a credit card purchase, if the price of the item drops in a short period of time, some card issuers will give you the difference.  Just call and ask.

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