EAST PROVIDENCE, R.I. (WPRI) — Everyone wants to get the perfect gift for their loved ones but that can be tough when money is tight already. Ted Rossman with Bankrate said about a quarter of holiday shoppers believe they are going to take on more credit card debt while shopping. He said half of cardholders already carry balances from month to month. "We see all of these kinds of factors converging, higher cost of living, higher interest rates, most people get into credit card debt for practical reasons. Things like medical bills, car repairs, day-to-day expenses, and so on," Rossman explained. "So I don't want to say don't buy anything for the holidays, but it is important to be thoughtful." RELATED: How to avoid racking up credit card debt One suggestion from Rossman was to open up a new credit card with a 0% balance transfer to lower the cost of credit card debt. "I also think it's worth having the conversation with family and friends about 'Hey can we buy less this year, can we buy for the kids, could we pick one adult's name at random and buy for them instead of the whole extended family.' You might get some heads nodding in agreement," he added. According to TransUnion, the average credit card balance its more than $6,000. Rossman said adding another $1,000 on top of that this holiday season will just make it harder to pay off. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Daily Roundup SIGN UP NOW