Reject the recession: Spending money wisely - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

Reject the recession: Spending money wisely

By Kevin Wheeler - bio | email 

HATTIESBURG, MS (WDAM) - It's so easy to spend money, but spending money wisely can be a little hard sometimes especially during the holidays. 

Julie McAdory with Consumer Credit Counseling knows all too well how people can get themselves in trouble. She helped us with a few tips that she said will give people options of spending with a plan.

"When we are out Christmas shopping we have got to have a budget," said McAdory. "We have to know what we are going to spend on people, who we're going to buy for, and what we are going to buy and we are going to need to stick to it."

Credit cards seem to make things easier.  You buy something now and pay it later, but doing so can be set you up for a financial disaster.  McAdory said shopping with cash will help prevent that.

"It's tangible; you can feel the cash," McAdory added. "When you are out of money, you go home, so that is usually a preference for people to be able to spend cash.

Who could resist the big signs that read 50, 60, 70% off, and the buy one get one free signs. McAdory said don't fall into a trap of what may appear to be a good bargain.

"Is it a good deal for you? It might be a good deal, but is it for you? Are you going to spend too much money because it's on sale?" said McAdory.

McAdory said shopping is all about control and thinking things out. 

"We can beat the recession. Let's get back to the basics. What is Christmas all about?"

Copyright 2009 WDAM. All rights reserved.

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