And therein lies problem for many holiday shoppers. Too often we pull out plastic without thinking of how we’ll actually pay for things we buy. How many of us are still paying off credit card debt from last year’s holidays? Adding additional debt will only keep you buried in debt for many more years.

For example, let’s say you have a credit card debt of $2500 with an APR of 18%. If you only pay minimum amount due it will take you 20 YEARS to pay off your balance, assuming of course you don’t make any other credit purchases. On top of that you will have paid your credit card company a whopping $3,365.51 in interest!

If you’ve been working to eliminate or pay down credit card debt, don’t let holidays detour you from that goal. Use only cash to pay for presents you plan to buy. If you must use a credit card, set a goal to pay off that debt within one to two months. Otherwise you’ll be right back where you started from or even worse - further and further in debt.

5. WHEN purchasing gifts don’t try to keep up with Jones’s.

6. DON”T carry too much cash since cash goes quicker when it’s in your pocket.

7. BE careful of excessive telephone use, since it can create huge bills if you don’t keep track.

8. GIVE several small gift certificates instead of one expensive gift.

9. GIVE of your time to help less fortunate.

10. REMEMBER true spiritual meaning of season rather that commercialism.