All the Financial Advice You Need This Holiday Season in 60 Seconds

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Suze Orman answers rapid-fire holiday shopping questions, including, how much should you spend on the holidays? Should you give gift cards or cash? Should you shop on Black Friday or Cyber Monday? And finally, the financial maven reveals the best gift to give (hint – it doesn’t cost anything). Check out her top 6 holiday tips, below.

1.) Shop on Cyber Monday, not Black Friday
Orman advises you to skip the long lines on Black Friday and shop from the comfort of your home on Cyber Monday, instead. "You're not tempted by all the stuff you see [on Black Friday]," she says.

2.) Gifts for Coworkers Are A-OK -- But Don't Spend Any Money
Orman thinks it's totally fine to exchange gifts with your coworker during the holidays -- just don't spend any money on them. "[Don't give] gifts that you buy; [give] gifts that you already have. Like things in your closet that you don't use, give it away!"

3.) Spend Only What You Have
Orman says if you have piles of credit card debt, you don't have enough money to spend on anythign this holiday season. And even if you don't have debt, Orman says to give something small, worth about $10 to $15. "That's enough," She advises. "Set a limit."

4.) Avoid Gift Cards
"I hate gift cards," Orman says. "When you have a gift card, you go in [to the store] and spend more than is on the gift card." As an alternative, Orman says to just give a person cash.

5.) Don't Go Over Your Budget
"Just don't do that!" Orman says. "That's ridiculous."

6.) The Best Gift to Give This Holiday Season
Orman says the most important gift anyone can give this season won't cost you an arm or a leg. In fact, it's totally free. "[Give] a gift of love!" she told Rach.

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