Channel Your Inner Scrooge While Shopping

BOSTON (TheStreet) -- December is a crucial month for retailers, as sales for the holiday season comprise as much as a quarter of the year's revenue.

But what's good for business can be dangerous for consumers when all that largesse becomes a budget-buster.

"Everyone knows this is a make-or-break time for retailers, but it can be a make-or-break time for the consumer too," says Gail Cunningham, spokeswoman for the nonprofit National Foundation for Credit Counseling. "Poor choices during the holiday season can lead to deeper financial holes."

With unemployment in the double digits and many of us still feeling a post-recession hangover, saving money this holiday season is on everyone's mind. Surf the Internet and collect a slew of money-saving tips -- cut old Christmas cards in half and re-use the front cover to send holiday postcards; buy wine, decorative soap and olive oil in bulk from Costco(COST Quote) or BJ's Wholesale Club(BJ Quote); stock up on next year's necessities starting the week after Christmas to take advantage of 75% in savings the average Walgreens(WAG Quote) or CVS(CVS Quote) offer to clear out inventory.

But those sorts of tips pale in comparison to the big picture of proper budgeting.

A National Foundation for Credit Counseling poll of 3,800 respondents in October asked how people planned to pay for purchases this year. The majority of respondents, 68%, said they intend to use cash. Another survey by the foundation revealed that a third of Americans have no savings.