FOR IMMEDIATE RELEASE
Contact:
Kelly Rote
Kelly.Rote@moneymanagement.org
713-394-3201
HOUSTON (December 8, 2004) – While it may be too late to start saving for this season, it’s the perfect time to start planning for Christmas 2005. In the meantime, there are still some things you can do to soften the blow. Consumer Credit Counseling Services gives these tips for last-minute shoppers:
· It’s never too late to budget. Know how much you plan to spend before you head to the store.
· Use credit wisely. If you must use credit, only use those cards or accounts with the lowest interest rates and most advantageous re-payment plans.
· Plan for pay-off. Set a goal for paying off any holiday debt in a reasonable amount of time. Keep in mind that a $1,000 charge can take more than 12 years to pay-off if your interest rate is 17 percent and you make only the minimum monthly payment.
· Know when to stop. Only shop when you need to and stop shopping when your list is complete. This will help you avoid impulse purchases.
· Get creative. Great gifts don’t necessarily cost a lot of money. Make homemade jam, pick flowers from your garden or assemble a photo album. Give vouchers good for five hours of yardwork, ten back rubs, or a weekend of baby-sitting.
· Send gifts by the most inexpensive method. Compare mailing options and rates and be sure to allow enough time so that you can avoid overnight or express shipping.
Finally, Consumer Credit Counseling Services (CCCS) a division of Money Management International (MMI) recommends that if you experience difficulties sticking to your holiday spending plan, do not give up. Small setbacks do not mean you have to scuttle the entire plan. Instead, adjust your spending accordingly. Then, focus on your goals for 2005 and start the year off on the right foot financially.
About Money Management International
Consumer Credit Counseling Services (CCCS), a division of Money Management International (MMI), is the nation’s largest non-profit, full-service credit counseling agency, providing confidential financial guidance, counseling and debt management assistance to consumers since 1981. CCCS helps consumers trim their expenses, develop a workable spending plan and repay debts. Counseling is available by appointment in branch offices and 24/7 by telephone and Internet. Services are available in English or Spanish. To learn more, call 800-762-2271 or visit MMI's website at www.moneymanagement.org