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Consumers Can Avoid Debt This Season By Using Credit Wisely, Report Says

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Proper planning can help consumers avoid a holiday debt hangover. Holiday shoppers are looking to squeeze extra savings out of the end of the year celebrations by observing good shopping habits, a new report says.

By observing some simple steps such as setting a budget, comparison shopping and paying cash for purchases consumers can cut debt.

"With just a little planning, consumers can substantially reduce their holiday spending without sacrificing quality," Stephen Brobeck, executive director of the Consumer Federation of America, told The Chicago Journal.

By checking prices both online and at retail stores can save consumers as much as 10 percent, the Journal reports. By checking for deals at specific outlets, shoppers can find out which retailers offer the best discounts on the products on their lists.

This can help stretch a holiday budget, without requiring individuals to dip into reserve funds. Consumers can also save by switching to low-rate credit cards, the news provider says. These plastic options are offered by non-profit financial organizations across the country and typically offer lower interest rates than mainstream lenders.

Timely articles written by the Editors at DRC

New government regulations in place for consumers in need of debt relief for credit cards and other unsecured debts.