Dealing With Christmas Shopping Debt

Now that all the Christmas presents have been opened, many Tulsa residents have to figure out exactly how they are going to pay for them. <br/><br/>Credit counselors say not to panic; there are ways to

Tuesday, December 26th 2006, 6:09 am

By: News On 6

Now that all the Christmas presents have been opened, many Tulsa residents have to figure out exactly how they are going to pay for them.

Credit counselors say not to panic; there are ways to cope with holiday debt. They say first and foremost, stop spending and buy only what you need. You should also pay as much of your bill as you can each month to avoid being hurt by interest rates.

Experts also recommend finding ways to bring in extra some income. Some Tulsa residents who admit they spent too much this year have vowed to do better next year. Tulsa resident Clifton Rogers: "for me that's hard, but I'm going to get help with that. I'm going to go to a counselor credit thing, and see what I can do to pay so much a month."

The average American family was expected to spend between $500 and $1,000 on Christmas presents this year.