The countdown to the last shopping days to Christmas has begun and you may be running out of time and cash. But, before you pull out the credit cards, there are a few things you will want to consider.

Begin by deciding how much you want to spend. This requires sitting down with your family. Credit counselors suggest using a low interest rate card. Since credit cards are loans, and the longer the length of the loan, the higher the interest costs. Make sure to include those miscellaneous costs: cards, postage, decorations and anything else that will go on your credit card over the holiday season.

Many consumers find themselves in trouble after the holidays from using too many credit cards. Having lots of plastic is great when it comes to the purchase of lots of gifts and toys, but in your wallet, one credit card may be enough.

Stay with a one-month payback. Think about what you’re trying to accomplish. Have in mind how much money you want to spend overall and for each particular person. If you carry credit card debt, you may want to use a debit card or cash for your purchases.”

Don’t give in to guilt. Ask yourself, “Will an expensive gift really alleviate the problem of past actions? Or make me feel better?” Then spend accordingly. At all costs leave your emergency fund alone. Holiday expenditures are not emergencies. Holiday spending rolls around every year.

A mad dash to pick up gifts can often ruin a budget. Careful planning will help you avoid last-minute shopping and the purchase of gifts not on your shopping list or within your shopping budget.

Instant savings of 10 percent or more on a first purchase on a new store credit card may be enticing, but counselors say that unless the purchase is really expensive, a store credit card isn’t worth it. Every time you sign up for a store credit card, an inquiry goes on your credit report. Too many inquiries can lower your credit score. If you’re approved, you have more credit available. Too many inquiries and too much credit subtract points from your credit score; low scores restrict your credit and hike its price. Retail store credit cards also tend to carry higher interest rates than the use-anywhere cards.

Final strategy, start saving now for next year.

For more information, contact Anna Peele, Extension Agent, North Carolina Cooperative Extension Service at (910) 592-7161.