San Francisco, CA – November 21, 2006 - Potentially dispelling a long held myth about women being bigger shoppers, men actually report spending more on gifts and entertaining over the holiday season, according to a new Visa survey of credit and debit cardholders. Results of the survey show that men say they spend an average of $1,288 for the holidays, which is over a hundred dollars more than women who report spending $1,186.

This same survey also found that Americans say they spend an average of $1,224.82 on gifts and entertaining over the holiday season.

“One of the best ways consumers can ensure that holiday cheer doesn’t turn into shopper’s remorse is to sit down and prepare a budget,” says Jason Alderman, director of Visa USA’s Practical Money Skills for Life program. “Holiday shopping and entertaining comes down to a choice between needs and wants, so making a realistic budget and sticking with it is critical.”

To help consumers in this area, Visa USA has launched a free online Holiday Budgeting Center, available at www.practicalmoneyskills.com/holiday, to help consumers avoid the temptation to overspend this holiday shopping season.

This comprehensive Center features a variety of online tools to help consumers figure out how much to spend, along with help constructing a shopping budget and a printable gift log to track spending. There are also tools to assist with making a budget for hosting holiday parties and for travel costs, for those who are spending the holidays away from home.

The Holiday Budgeting Center is part of Visa’s award-winning financial education program, Practical Money Skills for Life.

Additional results from the survey found that 58 percent of cardholders who were surveyed say they spend $1,000 or less during the December holiday season. Over a quarter of those surveyed spend between $1,000 and $2,500. Two percent typically spend over $5,000 on gifts and entertaining while an equal number plan on spending nothing. Cardholders age 50 and over report spending an average of $1,130 for the holidays, $202 less than those ages 18-49 who say they spend an average of $1,332.

Not surprisingly, college graduates report spending more on average for the holidays ($1,380) than those who do not have a college degree ($1,115), the survey results found.

Visa surveyed 1007 debit and/or credit cardholders from October 14 through October 16, 2006. Full survey results can be found at www.practicalmoneyskills.com/holiday.

Listed below are some tips to consider when preparing a holiday budget:

• Needs vs. Wants: Take a hard look at what you typically spend on gifts, decorations, clothing, entertaining, holiday meals, cards and travel, and then estimate how much you can afford to spend. Some financial planners recommend that no more than 1.5 percent of one’s annual income should be spent on holiday expenses.
• Make a List: Decide what you want to spend on each item and stick to your guns. It helps to know in advance what you want to buy so you’re not enticed by all the attractive merchandise on the shelves.
• Monitor Your Spending: Always keep a close eye on your bank account and credit card balances.
• Cut Back: Look for innovative ways to cut back like making gifts or drawing names with family members so you each buy just one present instead of giving a gift to everyone in the family.
• Shop Online: Think about all the time – and gas – you waste wandering from store to store, looking for inspiration.
• Plan Ahead: Make a list of everything you need to do and plot it out on a calendar so you are not scrambling at the last minute and making more expensive decisions due to lack of time or choices.

About Visa
Visa USA is the nation's leading payment brand and largest payment system, enabling banks to provide their consumers and business customers with a wide variety of payment alternatives tailored to meet their evolving needs. Visa USA is committed to increasing the choice, convenience, acceptance and security of Visa payments for all stakeholders in the payment system — members, cardholders and merchants. Through its 13,369 member financial institutions, more than 500 million Visa-branded cards have been issued to cardholders in the United States.

Worldwide, cardholders in more than 150 countries carry more than 1 billion Visa-branded cards, accounting for more than $3 trillion in annual transaction volume. VisaNet, Visa’s global processing system and the world’s largest financial network, processes transactions with unparalleled reliability.

Visa offers a trusted, reliable and convenient way to access and mobilize financial resources — anytime, anywhere, anyway.

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This press release is for informational purposes only and is not intended to be relied on for legal or financial advice and individuals are strongly encouraged to seek professional help to counsel them in accordance with their particular situation and needs.

For more information or to schedule an interview with a Visa USA spokesperson, please contact Steve Burke at (703) 683-5004 ext. 108, or sburke@crc4pr.com.