Joe Murray: Holiday Shopping Tips

Some people have already started their holiday shopping and are taking advantage of an old method to pay for purchases.

Many large stores are offering lay-a-away this holiday season. Financial expert Joe Murray explained on "Good Day" about 10-percent of shoppers are expected to buy something through lay-a-way. Murray said the advantage is that you "lock in the gift." Inventories are down this year, so saving money and then buying the gift could leave you empty handed.

Consumers are expected to spend $683 this holiday season. That's down three-percent from last year.

Many people, 68-percent, say they are only going to use cash. Murray said "I think this year they are starting to get the message." Murray warned the temptation to overspend will be very strong this year. He said it's important to resist the urge to spend more than you have.