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ACCC Provides Tips for Millennials on How to Avoid Common Holiday Financial Mistakes


American Consumer Credit Counseling provides Millennials with six spending mistakes to avoid this holiday seasonHoliday Financial Mistakes 

(Boston, MA) – December 18, 2017– The holiday season is in full swing, and many Millennials have started shopping for friends and family. While the holidays are a time of cheer, there is a high risk of overspending if individuals are not properly prepared. National nonprofit American Consumer Credit Counseling (ACCC) has provided Millennials with financial mistakes to avoid this season.

“It is easy for Millennials to become overwhelmed during the holiday season and fall into a spending spree,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “It is important that Millennials go into the holiday season with a strategic plan to avoid starting the New Year with too much debt and a big hole in their savings.”

According to a forecast by International Council of Shopping Centers, Millennials plan to spend an average of $554.40 on holiday gifts. Fifty-four percent of Millennials said they would make their holiday purchases with debit cards or cash.

ACCC provides Millennials with tips on the most common holiday financial mistakes to avoid.

  1. Not setting a budget. Create a budget at the beginning of the year and don’t forget to include holiday spending.
  2. Not sticking to a budget. Create a shopping list based on your budget and stay on track. It is helpful to make a list of everyone you have to buy for with possible gift ideas and spending limits.
  3. Falling victim to bargains. Just because something is a “good deal” doesn’t mean it’s a good deal for you. With so many different discounts it’s easy to fall into the trap of buying something just because it’s on sale.
  4. Last minute shopping. Shopping while stressed can hinder your decision-making skills and can lead to unnecessary spending. Try to plan and shop well in advance to avoid panic spending.
  5. Not keeping receipts. Most stores will honor the purchase price within a few weeks of the purchase and give a full refund.
  6. Relying only on credit cards. Millennials tend to spend more when paying with credit cards. Paying with cash allows them to watch the money disappear physically. A cash-only plan may help Millennials control their spending and hopefully save money during the holiday season.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, and student loan counseling, call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit  


American Consumer Credit Counseling (ACCC) is one of the top non profit debt consolidation companies in the U.S., with more than 22 years' experience helping individuals and families consolidate credit card debt and improve their credit management skills. If you're wondering "How does debt consolidation work?" and "How can I consolidate my bills?", we can provide you with debt consolidation information to show you exactly how we can help you consolidate debt without having to borrow money or pay steep fees. If you're considering bankruptcy, we are also one of the approved credit counseling agencies for issuing a pre-bankruptcy certificate as well as providing the post-bankruptcy credit counseling course.

Better Business Bureau Mass Housing Approved National Industry Standards for Homeownership Education and Counseling Council on Accreditation NFCC Member