How to stay frugal for the holidays

CHICAGO (WLS) -- The holiday shopping season is here, and the National Retail Federation predicts the average consumer will spend about $967 this holiday season.

Frank Devincentis, a Senior Vice President with Morgan Stanley in Chicago, sat down with ABC 7 Eyewitness News to talk about ways to save this holiday season.

It's easy to get caught in the holiday hype and spend freely, but once all the fanfare subsides in early January, the ability to start the New Year on the right financial foot is critically important.

That's why it's important to establish a budget and stick to it. It may be easier to keep your budget if you start shopping early. But make sure to be modest about your credit card use. Keeping track of all of your holiday purchases can help you save and stay organized.