One-third don’t save for Christmas

While the Christmas shopping season may be more than three months away, consumers should start thinking about saving now, according to TransUnion, one of the three major consumer reporting agencies.

Approximately 32 percent of consumers do not put any money aside heading into the holiday season, a recent poll conducted by the credit bureau indicates. This often puts consumers' credit into jeopardy as the new year approaches.

To avoid debt, consumers should plan ahead by making a list of the things they plan to buy and how much they need to save as December draws near, according to Heather Battison, senior director of education for TransUnion.

"That way, when the holidays arrive, consumer can use their saved money, enjoy a more relaxed holiday season—and enter 2012 without the burden of unmanageable credit card debt," said Battison.

For many consumers, Christmas is a season in which they do a lot of spending in a short period of time. As such, it's important for them to keep an eye on their credit history to ensure that creditors don't make any notations that could lead to being saddled with a bad credit score. A bad score can increase interest rates, making it more costly to finance a purchase. A credit repair attorney can provide consumers with tips on how to increase their vigilance.