Plans, budgets key to controlling holiday spending

By Kristen Consillio

POSTED: 01:30 a.m. HST, Nov 11, 2012

~~Question: Consumers spend more money during the holiday season than at any other time of the year. Why is it important to have a budget for the holiday season?
Answer: Creating a detailed budget which accounts for the planned and unplanned purchases of the holiday season can help consumers anticipate and more responsibly respond to financial stresses. Through budgeting, consumers are able to better anticipate the added costs of the holiday season (gifts, travel, holiday party expenses, meals and entertainment). This is important because it allows consumers to make more informed decisions, in advance, about how these costs will be managed.
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Question: Consumers spend more money during the holiday season than at any other time of the year. Why is it important to have a budget for the holiday season?

Answer: Creating a detailed budget which accounts for the planned and unplanned purchases of the holiday season can help consumers anticipate and more responsibly respond to financial stresses. Through budgeting, consumers are able to better anticipate the added costs of the holiday season (gifts, travel, holiday party expenses, meals and entertainment). This is important because it allows consumers to make more informed decisions, in advance, about how these costs will be managed. Login for more...