December 12, 2012 THE VILLADOM TIMES I • Page 17 The countdown to the holiday season has officially begun with decorations on store shelves and gift catalogs filling mailboxes. A recent study by the Consumer Electronics Association shows that each consumer plans to spend $1,634 overall this holiday, up 11 percent from last year. Unfortunately, much of that spending will be done on credit cards. That may make consumers feel gloomy when they get their bills in January. Smarter money management is a common New Year’s resolution for many people. So why not get a jump on things now by budgeting and spending wisely this holiday season? People often go off the financial rails when the holidays roll around, say personal financial planning experts at the New Jersey Society of Certified Public Accountants. Developing a spending plan and sticking to it can help keep you on track and prevent you from drowning in post- Spending tips for the upcoming holiday season holiday debt. Tips for holiday financial happiness: Create a spending plan. What can you realistically afford to spend? Decide who you will buy gifts for this year and how much you will spend on each person. Then, stick to your plan. Categorize your spending plan. Your holiday spending plan shouldn’t just include gifts. Don’t forget to account for all of the accessories that accompany the holiday gifts, like wrapping paper, bows, and tape. Doing some entertaining this year? Be sure to budget for party clothes, decorating, food, and beverages. Traveling to see family? Airfares, gasoline, hotels, and meals should all be included in your holiday budget. Remember to include a category for any charitable giving you usually do – and for holiday cards and postage. Avoid impulse buys. Do some research about when and where the best places are Shutterstock to buy the gifts on your list. Store flyers and door-buster sales can offer big savings if you are willing to do the legwork to find the deals. Plan and start shopping early so you don’t feel pressured to grab something at the last minute that will ultimately cause you to blow your budget. (continued on next page)