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Ask Professor Credit: How do I keep my holiday credit card debt under control?

When it comes to holiday shopping it is tough to save on presents and the larger your family the more difficult it is. This is a tough one because we are dealing with emotional spending in most cases - where you feel like you want to give the “very best” but may not actually control a Diddy sized bank account. Here are some tips on how to avoid racking up monster holiday credit card debt:

Purchase Early: When it comes to shopping, I recommend purchasing early for the best prices. Pay attention to what people who are close to you might want so you can get it early, like in the fall, and if not that early at least you can order it online.

Save on Shipping: If you are aware of what people want, you can get on it early as to avoid the “December 20th + Next Day Air” scenario. Next day air shipping costs are expensive for a reason and I wouldn’t be surprised if the shipping companies make more money off of all of our procrastinating than just regular shipping.

Focus: If your family is large, have a gift exchange where each person only buys for one person, instead of everyone. This will give you and each person a “real” gift and allow you to not feel as though you are going to break the bank completing your holiday shopping for close family.

Original post by ProfessorCredit.com - student credit card blog