TWIN FALLS (KMVT/KSVT) As Christmas gets closer, hundreds of people will be going out to look for the best deals.
IMAGE FROM CBS
College of Southern Idaho Professor of Economics Mike Pohanka said he recommends to plan ahead to follow budget goals this holiday season.
“The best way to budget is not to over-spend, keep within your means as far as your spending, a lot of people go out their means and spend more than what they should,” Pohanka said.
Pohanka said to be careful when spending on a credit card
“Putting things on your credit card absolutely, but you want to do it with moderation,” he said. "Maxing it out then you have that total amount that you will have to pay over the next year and depending on the interest rate that's where it’s costing you extra money.”
During the holidays, the Kovar family makes sure they follow their budget plan and treat their relatives equally.
“We spend the same amount on each member, on each family. They can pick and choose from where they want their gift cards at, but everybody gets the same amount,” said Verna Kovar.
Kovar said buying gift cards will alleviate them from getting a wrong item.
“This way, if we buy the (wrong) size for them, they too have to exchange it,” she said. “They can take their gift card and go in and buy what they want and it’s the right size.”
Pohanka also recommends purchasing items with low interest credit card.