How To Avoid Post-Holiday Debts

holiday debt

The yuletide season is not about spending. The expensive gifts that we give and the lavish parties we attend didn’t count that much when we talk about the true essence of Christmas. These things are just traditions that turn out to reverse our pockets empty to our last penny.

Consequently, come the next year January, most of us are struggling on how to pay off our holiday debts. It’s a bad way to start a new year, but we’re not bothered about it. After all, we’ve enjoyed every bit of the yuletide months.

In fact, on the latest survey of Magnify Money, the average American post-holiday debt is nearly at a thousand bucks, $986 to be exact. This debt is funded by credit cards, store cards, personal loans, payday loans and home equities. It’s contradicting that we spend as the year ends and pay off as the year starts.

Should we really spend more during the yuletide season? In a wider point of view, is it worth it to spend or be in big debt just to celebrate the holidays?

Here are some ideas to for you to avoid post-holiday debts, and can still celebrate the holiday season with a bang:

1. Stay on budget is the best way to avoid holiday debt

Let’s say that you receive some cash incentives for the holidays. You can allocate all these bonuses on your expenses, but please stay on the budget and don’t go beyond your financial capacity. Staying on a budget will make your celebrations affordable and less stressful. The yuletide season offers a lot of temptations to make you buy more and spend more than what’s inside your wallet. Don’t be lured by these enticing baits.

  • Create a Detailed Holiday Gift ListList down all the people who you will definitely give a holiday present. I’m sure you know what they want to receive for Christmas. Create a detailed gift list before the yuletide season. This can help you prepare more and save more. Ideally, you can buy gifts in a weekly or every payday basis. This will prevent you from using debt as an option to buy all these gifts all at once. Careful planning is always the key to avoid post-holiday debt.

2. Be thrifty

  • Meaningful, but not ExpensiveThe holiday season is not only about money. There are things and activities that will make the festivities memorable without getting the better of your bank account. As the famous saying goes: “It’s the thought that counts.” I know they love to spend quality time with you without the luxurious gifts and five-star dinners. Why not organize a simple pot luck or some affordable activities like inviting them to a free concert or a picnic in the park. Assuredly, they will cherish those memorable moments.
  • Personalized and D.I.Y. GiftsSome of your loved ones will get teary-eyed if they knew that you exert a lot of effort and spend time creating your gifts. Do you know how to knit a jacket or to make a personalized cross-stitch display? It really means a lot when someone gives you such personalized items that money can’t buy.
  • Your Time as a GiftThe yuletide season is always the busiest time of the year. Your loved ones will appreciate it if you spend quality time with them without spending a lot.

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3. Additional income

  • Monetize your Unused StuffThroughout the course of the year, it’s really common that we have some unused stuff that are hidden in our cabinets and closets. If you can identify some items that you think you can sell, why not post them online. There are websites that enable you to sell almost everything, big or small, cute and creepy and everything in between.
    It really feels good to free some spaces for upcoming new stuff and get additional cash -all in one smart activity.

4. Don’t forget yourself

You’ve been a good and smart Santa. But aren’t you forgetting someone very special? YOURSELF! It’s unfair becoming a good Santa to others without being a good Santa to yourself. Do you have an idea what’s the best gift you could give to yourself? For some, it’s a new high-end cellphone or other valuable items they always wanted, but come to think of it, why not give yourself a gift that will get you closer to a better future? You may start by fixing your financial situation before the New Year starts.

  • Prepare For the Tax Season as early as nowPlanning ahead on your taxes will help you fix your current tax problems and will also save you time and money. Help yourself and cut down your tax bill. Luckily, Financial Rescue LLC (FRLLC) can help you fix your tax and IRS issues in no time.
  • Start Getting rid of your debtsNow, I hope you’re enlightened on how to avoid post-holiday debt, but if you’ve accumulated big debts in the past and you want to be debt-free soon, we have the best solution for you. Financial Rescue LLC offers top-notch debt settlement programs that aims to help people who are struggling to pay off their debts.
    Our debt settlement programs have helped settle millions worth of debt from individuals who only paid an average of 40 to 60 percent of their total debt amount.

Call now at 1-877-97-33287 for a no-cost, no-obligation consultation from our certified debt consultants.