Avoiding Debt Traps

It’s tempting to go over budget when buying the perfect gift for your special someone. However financial experts are warning consumers to reign in their spending this year. This year has created a lot of economic uncertainty and accruing debt this holiday season could mean financial suicide. CNBC reports consumers are planning to spend just under one thousand dollars this holiday--$997.79 to be exact. While that's a little less than last year, it's still a significant amount of money, especially given the economic instability we’re facing right now. Here to teach us how to avoid falling into debt traps this holiday season is financial specialist Shawn Wright.