Preventing Holiday Gift-Buying From Becoming Post-Holiday Debt

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BOSTON (WBZ NewsRadio) — It's that time of year.... family, friends, good food, and hopefully not going into debt.

Along with all the celebrating, the holiday season can be stressful, especially when it comes to money.

Inflation has kept a steady rise in the cost of just about everything, and before you know it, those holiday gifts just purchased can create a budget-busting problem.

Andrew Smith is an Associate Professor of Marketing at Suffolk University, and he said staying within a budget when shopping is hard but critical. "Have an idea what your general household spending allows for, then make sure you are tracking what you are spending from purchase to purchase."

He said to limit the 'buy now pay later' purchases such as transactions using a credit card.

He also said the best gifts aren't necessarily ones that cost money, but original gifts that come from the heart such as something created or made especially for that person.

Something else Smith recommends when trying to rein in spending…. cutting back.

WBZ’s Nichole Davis (@ NicholeDWBZ) reports. 

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