As some shoppers still finance holiday spending on credit, how to stay debt-free

MYRTLE BEACH, SC (WMBF) Nearly 14 million people are still trying to pay for last year's holiday spending. As more people are spending this year, there's more chances for you to fall into debt. So as you figure out how to fund the holiday expenses, there are some things to think about before you pull out your wallet.

WMBF News spoke to a financial advisor with Oak Street Advisors, who has tips for how to have a debt-free holiday season. You can put these tips into play as you continue to shop for all your needs this season:

Budget - Make sure you have a "thought out" budget. One of the easy ways to do this is to have a limit on how much you want to spend on each person you're shopping for before you head out to stores.

Use Cash - Try doing all your shopping with cash instead of credit. experts say when you hand out cash, psychologically you have a sense of loss, which slows your spending.

Plan Ahead - The best way for you to have a debt-free holiday actually starts next month, as January is the best time to start saving for the 2012 holiday season. Saving ahead of time can help keep more of your money in the bank.

Financial experts say managing your money can be like overeating, if you spend too much, then you need to spend less at the next opportunity. This helps keep your money in balance.

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