It is hard to believe that the holidays are almost upon us. This is a scary thought, since it has been a difficult year for most people. Are you wondering how to make it through the upcoming holiday season? If so, we have some helpful tips for you.

Managing Debt During the Holidays

For many, there is pressure to spend a lot when it comes to gift giving.  Some even take out a loan to cover holiday expenses. However, most people who incur debt during the holidays make purchases with credit cards. Most of these gifts were given to children, significant others, and family members. Making minimum payments will not get you out of debt quickly. So, what can you do to deal with your post holiday debt?

  1. Make a holiday budget – this is essential for keeping you accountable to what your finances will allow.
  2. Plan Ahead – just like Santa, make a list and check it twice. This will give you a good idea of how many gifts you would like to give and how much your budget will allow you to spend for each person.
  3. Use sales/deals – keeping an eye out for budget-friendly deals all year will help you cross off gifts for your loved ones in manageable chunks.
  4. Use Your Rewards – many credit cards offer rewards or cash back deals at specific stores, consider using these to knock down the price for something you were interested in buying. You may also be able to take the cash back and apply it to an existing balance.
  5. Make Something – the holiday season is about spending time with the ones you love. Use your crafting skills to make something from the heart. You will find that these gifts often mean more than something purchased from a store.
  6. Talk to Your Family – if you are worried about your spending, speak with your family about different options. Chances are that your family members are also concerned about how much to spend during the holiday season. You could propose ideas like setting a gift spending cap or pulling names for a Secret Santa.

Interested in Other Options to Manage Your Debt?

At the Law Office of Daniela Romero, we believe in relationships that are based on trust. Before we work together, we would like to get to know you. We also would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case. So we can offer you representation to the fullest extent of the law. Call us today to set up a free consultation.