Todd Mark, vice president of education for Consumer Credit Counseling Service (CCCS of Greater Dallas) will join members of the Farmersville Rotary Club on Nov. 11 to offer helpful spending and saving tips for the holiday shopping season, as well as how to avoid building excess debt. Additionally, Mark will provide tips on avoiding identity theft.

WHEN:
Tuesday, Nov. 11, 2009 12:00 p.m.

WHERE:
Farmersville Rotary Club
Carlisle Civic Center
201 Orange Street
Farmersville, TX75442

“Most people’s everyday living budget has been cut, so adding holiday spending into the mix can break your well-thought-out spending habits,” said Todd Mark, vice president of education for CCCS of Greater Dallas. “We want to help consumers spend wisely this season so they don’t start off the New Year in a mound of debt.”
CCCS of Greater Dallas offers consumers the following budgeting tips to smartly plan for the holidays:

1. Time is still on your side.  Put aside any extra money now to help support your holiday shopping budget.  Having this money will make opening those January credit card bills a much more pleasant experience.

2. Don’t rely on a bonus. Companies aren’t offering the same bonuses you’re used to because of the recession.  Don’t plan on this money for your holiday shopping budget.  Instead, spend what you can afford and if you do receive a bonus, put the money straight into a savings account – you’ll be glad to have that extra money for the future.

3. Develop a plan of action. Review your budget and determine how much you can afford to spend for the holidays.  Plan who you need to shop for and how much you will spend for each person.  Besides gifts, this list should also include costs of dinners and parties, holiday travel, shipping, wrapping and decorations.  We oftentimes forget about these costs, which can add up quickly.

4. Get a second job. If necessary, consider getting a second job during the holiday season.  Now is the time to inquire about these jobs, as retailers are already planning for the holidays.  Be strategic when seeking out these positions – the employee discount can be more valuable than the money you would earn.  As an example, if you have young children and will be purchasing toys from them, a toy store or a mass retailer may be the best fit for you. 

5. Use credit cards and methods of payment strategically. Limit your credit card use to one for holiday shopping, and make sure it has the lowest rate.  Also, don’t charge anything that you can’t pay off in three months.  Ideally, use your credit card as you would cash so you immediately pay off your shopping on time and in full.  If you are more of an impulse shopper, use cash so you know exactly how much you are spending.  If you plan to ship a gift, purchase a service that will be delivered later, or make a purchase online, use a credit card, as you have charge-back rights.

6. Give from the heart.  Volunteering with your family to help the less fortunate can be more meaningful than a gift you may receive.  Also, consider giving your family and friends the gift of your time – gifts like free babysitting, handiwork or a book of recipes will save you money, and be appreciated by those that receive your time.  

CCCS of Greater Dallas can help plan your budget for the holidays and the entire year.  For more information on free budget and credit counseling as well as free financial education, please plan to attend the Farmersville Rotary Club event. You can also 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 22 locations in four states. CCCS of Greater Dallas is a HUD-approved multi-state housing counseling organization 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.