Debt expert: Stop buying Christmas gifts for adults

Debt expert, speaker and author Ja'Net Adams told WFMY that consumers should not buy Christmas gifts for adults. This will help reduce the likelihood of consumers who are already experiencing financial strain sliding into further debt, according to a blog post from Adams in which she declares "no adult needs a Christmas gift."

If consumers can't resist some kind of gift exchange, Adams recommends helping a loved one with a bill or by following her family's tradition, which is to draw names from a hat on Thanksgiving. Then, you only buy one gift for the person to whom you are assigned, Adams told WFMY.

Adams also recommends focusing on experiences versus buying gifts during the holiday season. Have friends over for a dinner party or get together for a low-cost outing.

Finally, Adams encourages consumers to not overlook themselves this holiday season. She encourages consumers to focus on their financial future and take steps to secure it now.