Making Smart Financial Choices For Gift Shopping (NAPSA)—Given the challeng- ing economic conditions, many Americans are likely to be more cautious than ever when it comes to holiday spending. A recent . | — : ——— Nielsen survey indicated that 35 percent of U.S. households plan to spendless this year than they did in 2007. Loretta Abrams, senior vice president of Consumer Affairs, HSBC-North America, urges holi- Set a budget andstick to it! Deposit to a 529 college savings account and U.S. Savings Bonds, or provide supplies for a crafter, etc. twice (this doesn’t just apply to retailer offers the best price and day shoppers to pay closer attention to the usual advice for keep- ing gift shopping undercontrol. Make a list and check it Santa). Don’t create debt you can’t manage (plan to pay on the spot or repay within two to three months). Trim yourgift list before you trim the tree—identify what expenses you can cut and which gifts you can eliminate. In addition, Abrams also recommendsthe following tips that can save money but at the same time fulfill your holiday obligations: Select gifts that satisfy a need in a way that’s helpful, con- venient and valued. Good examples are gift cards for gas or groceries, prepaid calling cards, dry-cleaning services, a cell phone with prepaid contract or help buy- ing schoolbooks, etc. Take advantage of the many special holiday gift sets and twofor-one options to expand yourgiv- ing options or consider gift ideas that will allow you to spread out your giving (manicures for the next three months, or bundling multiple items from a Website to save shipping costs). Give a gift that may open doors or create opportunities. Browse online to see which look for coupons andfree shipping deals. Resist temptation. Some short-term decisions, like opening additional unnecessary credit card accounts to save 10 percent on purchases, may have a long-term negative impact on your credit score. Also, think twice when using your credit cards during the season to make sure you can pay for purchases within three months and that you are always guarding against identity theft. Protect your identity like cash. Keep receipts and billing statements to check for unautho- rized charges. Shred documents that contain personal information. Before giving out your credit card information online, look for a padlock or key icon at the bot- tom right of your browser window to ensure you are on a secure page. In other words, spend wisely and make your gifts memorable. Take advantage of additional free financial independent resources on yourmoneycounts.com, which is available in both Spanish and English.
