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Expert: Avoid Emotional Impulse Buying

Last updated on Friday, November 26, 2010

(UNDATED) - Before heading to the stores for that holiday shopping make sure you have a plan.

Indiana financial expert Denny Smith says the biggest mistake people make during the holidays is emotional impulse buying. That can lead to regret and problems when the bills come due in a month or two.

Smith says you should make a shopping budget by making a list of everyone you intend to give a gift and list a monetary value to that gift purchase. Smith says you should also make an entire holiday budget that includes food, travel, charitable giving, and any extras associated with entertaining guests and family.

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