As everyone would say, “Prevention is better than cure.” On the other hand, it’s always inevitable that we will encounter some problems specifically with our finances during the holiday season.
Indeed, Christmas is the season of giving and we tend to be a little bit reckless in using our credit cards and planning our expenses at this time of the year.
In a recent study, about 70 percent of the Americans used their credit cards for their Christmas shopping and other lavish holiday expenses. Consequently, they will welcome the New Year with unpaid credit card bills and it’s not the ideal way to start the year right.
Don’t worry, if you’re among them, there are some ways that you can cure your holiday debt, but let me remind you again that prevention is better than cure in everything.
Meanwhile, here are some recommended cures for your debts, not only for the holidays but also all year round.
Strategy is the Key
A well-planned strategy in paying off your debt is the key to enter the door of a hassle-free financial life. You can start by paying off your most expensive debt first, meaning it’s the largest one or the one with the highest interest rate. If it’s possible, consider a balance transfer of your high-interest account to a much lower credit card account.
It may not be a D.I.Y. strategy, you may ask for the support of your family and friends. Tell them your goals and give them the authority to check out your progress and of course, your recent spending habits.
Kick Bad Money Habits
Alright, I feel you. The purpose of money is for spending, but without a disciplined mind and right attitude, you may spend it like there’s no more tomorrow. The lavish and affluent lifestyle that they portray in the media leads us to think that buying expensive stuff is the right way to go. This is not really true.
Be practical and kick out bad money habits like impulsive buying every time you have a trip to the mall. Also, be mindful about where you allocate your hard-earned cash and invest your saving in some low-risk investment schemes. It’s really hard to change your spending habits, but I can assure you that the results are worth it.
Plan your Taxes Early
The early bird catches the worm. It’s also true when it comes to our taxes, whether it is income tax or business tax, early planning will bring savings. List down your deductibles and save for your taxes quarterly or in a monthly basis. This will make your buying power stronger during the holiday season. If you have some questions on how you’ll go on with the IRS process, professional help is always at hand.
Sell Your Old Items to Buy New Ones
If you plan to buy yourself a gift for the holidays, consider selling your old items to buy a new one. Check out your closet and storage for some unused items that you’ll be able to sell online. It will not only free up some space, it will also bring in some cash that you can use for some of your holiday expenses.
Consider Debt Relief Options
Due to the increase of credit card debt during the holiday season, relatively, there’s also an increase in the individuals who seek out professional help through debt resolution options.
There are different kinds of debt resolution programs that can help you fix your finances and resolve your debts in no time.
We hope that this article helps you have some ideas on some holiday debt cure and if you’re considering debt relief options we have some great news for you.
Debt Settlement Programs from Financial Rescue LLC
Fortunately, for those who wants to resolve their debts, this topnotch debt settlement programs is the best option that you can get.
It comes with a one monthly payment scheme that brings convenience and affordability in paying all of your unpaid debt.
Further, it can lessen your total debt amount as much as 40 to 60 percent (based on actual client settlements) through proper and smart negotiation tactics.
Meanwhile, we know that taxes also brings burden to your finances when it’s unplanned. As a solution, we’ve also partnered with tax experts to help you resolve your tax problems and other IRS issues.
Call us now at 1-877-97-33287 for a no charge, no obligation consultation with our certified debt consultants.