Watching Your Wallet: How to avoid overspending during holiday shopping

FRESNO, Calif. (KFSN) -- The season of giving can quickly become the season of overspending.

With holiday shopping in full swing, financial experts say planning ahead is key to keeping your budget intact.

"It's more than just having a budget," said Tina Mistry, CEO and senior financial advisor at Portfolio Advisors. "Start by making a list of who you're shopping for and what you plan to get them. When we're challenged with thinking off the top of our head in a store - 'gosh, what should I get for this person?' - that's when overspending can happen because we're just trying to make quick, pressed decisions."

Instead of splurging on trendy, high-demand items, Mistry suggests rethinking traditional gifts.

One option: contribute to a savings account for a child's future education.

Families can set up college or non-college savings accounts that relatives can add to over time.

Another budget-friendly idea is savings bonds, which start at $25 and accrue interest annually.

"They come in $25-$50 increments," Mistry said. "There are interest rates assigned to those bonds, so they'll be earning a certain amount of interest over a year."

For next year, Mistry recommends starting early.

"If you start saving $25 a week in January and do that all the way through November, you'd have a little more than $1,000 saved," she said.

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