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Avoiding Holiday Debt
Consumer education program aimed at Latinos
Published on LatinoLA:
December 2, 2002
According to the International Mass Retail Association, the average holiday shopper plans to spend $863.00 on gifts this year. With credit cards being used more than 1.7 million times per hour during the 32 shopping days between Thanksgiving and Christmas, holiday debt can become a problem. Springboard, a national non-profit consumer credit management organization dedicated to teaching fiscal literacy, announces the second platform of a four-platform debt management education program for Latinos during the hectic holiday season.
?With the holiday shopping season rapidly approaching, we are all too ready to pull out our plastic,? said Lilia Mojica, Springboard?s National Director of Hispanic Programs. ?However, given the current economic situation, there are certain factors that need to be taken into consideration before saying, ?Charge it.??
To address this need, Springboard has announced its second debt management education program for the Latino community entitled ?Smart Saving and Spending Habits for the Holiday Season.? The program aims to educate and empower Latinos to take control of their finances during the holidays. Springboard offers a series of brochures that address credit habits and has developed five simple-straightforward steps that will help avoid budgeting pitfalls during the holiday season including:
1. Create a written plan now, include possible gifts, dollar amounts and alternative choices
2. Do your research and buy gifts on sale
3. Start shopping early in order to spread out your spending to avoid impulse purchases
4. Save your receipts as you make purchases and track the prices against your budgeted amount
5. Be creative with your gifts; consider babysitting for a friend or yard work for an elderly neighbor
?Keeping simple budgeting tips in mind can go along way to ensuring that you start the New Year more knowledgeable about your hard-earned dollars,? said Dianne Wilkman, President of Springboard.
In addition to the ?Smart Saving and Spending Habits for the Holiday Season,? Springboard will also announce additional platforms ?Investing,? and ?How Not to be a Victim of Identity Theft.? The Springboard materials will be available directly to consumers online at http://www.plansabio.org or by calling 1-800-WISEPLAN (947-7526) ext. 749 or by sending a self-addressed, stamped envelope to: Springboard, 6370 Magnolia Ave., 2nd Floor, Riverside, CA 92506.
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