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PRESS RELEASE
Tuesday, December 15, 2009
Can't Buy Me Love
Don't Let Emotions Rule Your Holiday Spending
Dallas - December 15, 2009 - With Christmas just 10 days away, many people are down to the wire for holiday shopping, rushing to purchase gifts for family, friends and co-workers. While consumers are limiting their spending this holiday season, emotions can still take over when shopping at the last-minute, causing shoppers to spend more than budgeted.
As consumers count down to December 25, they become anxious about gift buying… Will there be enough time? Did I buy the right gift? Did I get spend the right amount? Consumer Credit Counseling Service of Greater Dallas (CCCS of Greater Dallas) advises shoppers to think logically when buying these last minute gifts and recommends paying attention to the following emotional trigger points when shopping to avoid a New Year filled with credit card debt:
Pride - Due to the recession, people may not receive a big bonus or pay raise like they have in years past, but they want to show their family and friends they can still afford expensive gifts or a sleigh full of presents. CCCS of Greater Dallas advises consumers to be realistic this year and spend only what they can truly afford. The best gift consumers can give themselves is financial stability and living within their means, even at the holidays. Spend little now and save what you can.
Guilt - Whether it was a recent argument or spending too much time at work and away from their children, people tend to go overboard with holiday gifts to make up for the guilt they feel about something that's happened in their lives. Instead of showing love through a bunch of gifts or one big expensive one, it's more sincere to do something special for that person like making their favorite dinner or spending quality time together.
Love - Parents can find it difficult to turn down their adorable children when they submit a wish list longer than Santa's naughty or nice list. Help children prioritize which gifts are the most important to them and explain how one expensive gift may take the place of several less expensive items.
Loneliness - The holidays can be lonely without friends or family around. Some individuals who spend the holidays alone may decide to spend too much money on a co-worker or neighbor in an effort to feel like there is someone they can share the holidays with. Instead of blowing money on acquaintances, find an organization to join, or better yet, spend Christmas Eve or Day serving food to the homeless - an activity that can make the helper and those helped feel good.
Depression - Like overeating, depression can also cause people to overspend. Depressed individuals may feel like an expensive purchase can create happiness in their lives. Instead of creating a mound of debt that could cause more depression in the very near future, find someone to talk with. Free counselors are available via phone in most communities and your local CCCS can help with a spending addiction.
"Emotions play a big part on whether or not we break the bank when it comes to holiday purchases," said Todd Mark, vice president of education for CCCS of Greater Dallas. "We advise our clients to use their heads when purchasing gifts. Money does not equal love at the holidays. Giving a gift should come from your heart, but only if that gift really fits your budget. Keeping up with your list, even at the last minute, will help you avoid feeling grief in the New Year."
CCCS of Greater Dallas can help plan your budget for the holidays and the entire year. Contact your local CCCS office for more information on financial education and free debt seminars, or call (800) 249-2227 or visit www.cccs.net.
About CCCS of Greater Dallas
Consumer Credit Counseling Service of Greater Dallas, Inc. is a nonprofit, community based credit counseling and debt management service. Established in 1974, CCCS of Greater Dallas and its affiliate offices provide financial education and counseling to consumers in-person, by phone, or Internet through their 24 locations in four states. CCCS of Greater Dallas is a HUD approved housing counselor and serves as one of eight counseling agencies supporting the 888-995-HOPE Hotline. The agency is also a member of the National Foundation for Credit Counseling (NFCC), the nation's largest and longest serving national non-profit credit counseling network. To learn more about CCCS of Greater Dallas' free seminars or the agency's services, visit www.cccs.net.
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