Family Credit Counseling Service Announces New Survey Shows Consumers Haunted by the Ghost of Christmas Past.

CHICAGO -- If you are concerned about spending too much this holiday season, you are not alone. According to Family Credit Counseling Service's (FCCS) annual Financial Stress Survey of over 1500 consumers with credit card debt, four in ten individuals have regrets about spending too much on gifts.

While most people associate holiday spending with gifts, that is just the beginning. "In addition to gifts, we spend money on wrapping, food, decorations and charitable contributions. It's amazing how quickly all of this can add up," said Michael McAuliffe, President of Family Credit Counseling Service.

To avoid regret when your January credit card statement arrives, start planning now. The experts at FCCS provide the following tips for reasonable holiday spending:

1.  Don't get caught up in the emotions of the season. Once you've
        determined your budget, stick to it. One thoughtful gift
        purchased on a budget can be better than numerous impulse
        buys.
    2.  If you use credit, choose wisely. Department stores usually
        charge a higher interest rate when using their credit cards
        than a major credit card such as Visa or MasterCard would
        charge. Better yet, use your debit card instead. Just be sure
        there is enough money in your account to cover your purchases
        to avoid overdraft charges.
    3.  Avoid the temptation of payday lenders. Many may charge over
        1000% interest!
    4.  Keep your receipts. Many stores offer price adjustments within
        14 days of purchase. If you see the item on sale for a lower
        price within the specified period, be sure to ask for a refund
        of the difference.
    5.  Start a new trend. Exchange gifts with friends and family
        after Christmas. This will allow you to buy gifts during
        after-Christmas sales. Say goodbye to regrets after seeing
        that must-have gift for half off!
    6.  Buy next year's decorations this year. You will have one less
        thing to purchase next year and can save 50-75% off the retail
        prices when shopping after Christmas.
    7.  Shop online. Where else can you save on both money and time?
        Many retailers offer free shipping and a simple search on a
        search engine such as Google will often provide coupon codes
        for additional savings.

Remember, you can avoid the Ghost of Christmas Past by confronting the Ghost of Christmas Present.

About Family Credit Counseling Service:

Family Credit Counseling Service (FCCS) is a non-profit agency providing an alternative for those seeking financial assistance. FCCS is one of the largest consumer credit counseling agencies and has been assisting consumers throughout the country for over 10 years. FCCS' mission is to reduce the stress in consumers' lives through education, budget counseling and debt management. For more information or to obtain a copy of the 2005 Annual Financial Stress Survey, call 1-800-994-3328 ext. 108 or visit http://www.familycredit.org or http://www.teachmeaboutcredit.org.