RICHMOND, Va. (WWBT) – The holiday shopping season is just beginning and with money tight for many, financial experts are warning against impulse spending and getting into more debt.

Meanwhile, small businesses around Richmond are also preparing and hoping for a good holiday season.

“I’m very excited this year, especially it’s our second year in the physical location,” said Eryn Cook, founder and owner of Eco Inspired.

Eco Inspired is Greater Richmond’s only zero-waste refill shop. It’s also dedicated to sustainable, packaged plastic-free, and refillable products.

Cook said she’s ready for the holiday shopping rush.

“If people love a product they can come in and just get a little bit, they have nice little labels and tags for them so they can give to their friends and it can be very affordable,” Cook said.

Cook said affordability was a big priority when getting her business started.

“I started this because this is just how I shopped and lived, and I was always on a budget, but I found some places like this that hand soap, dish soap, laundry, things I needed, and I can do it very affordably, and so I just want to be able to show Greater Richmond that there is a place where they can shop for better ingredients, better product all plastic free,” Cook said.

With the combination of Black Friday, Cyber Monday, Christmas shopping, inflation and debt, Virginia Credit Union financial expert Cherry Dale said you need to be extremely mindful of your budget during this time.

“I think it’s really important as people enter into the holiday season to have a good understanding with where they are with their overall financial picture,” Dale said.

Dale said that as the holiday shopping season nears, you should set a budget and consider the possible impact of interest on your credit cards.

“What I like to do is create a gift list for each person that I am giving to. You need to have an exact amount and then have boundaries around that, and when you are done, let’s say you, $500 and 5 people, $100, and when you’ve reached that limit, make sure you’re cutting yourself off,” Dale said.

And most importantly, don’t fall into impulsive spending.

“Separating yourself from money emotionally is what I encourage people to do as they are going into this and you know you do not have to spend money on people, a lot of people enjoy your time,” Dale said.

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