Developing a holiday spending plan

Published: Nov. 5, 2021 at 10:14 PM EDT
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RICHMOND, Va. (WWBT) - Make a list and check it twice - just like Santa.

It’s really the best way to make sure you map out your Christmas spending.

“You want to make your list and know who you are spending and of course allocate for your spending for each person. So, let’s say you have 5 people in your family and $100 a person,” said Dale.

Cherry Dale is a financial coach with the Virginia Credit Union. She says once you have your list try to stay on budget. Don’t go over.

If you have to use a credit card, use one that gives you points for expenses and know the interest rate since it typically takes people a few extra months to pay off their holiday spending.

If you do have to use a credit card-- budget out exactly how much you’d have to pay over 3 or 5 five months to pay it off.

That way you aren’t racking up too much interest - and then stick to your plan.

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