Christmas shopping may be enjoyable now, but that won’t be the case when January gets here. According to magnifymoney.com, Americans will “kick off the New Year with an average of $1,003 worth of new debt.”. There are those who faithfully pay off their credit card debt every month. But for those who have a little bit more trouble, this post is for you.
We all know the struggle of having to purchase gifts for family, friends, and coworkers. So do yourself a favor and make a list of who you’re getting gifts for, and what those gifts are. After you buy someone a present, cross them off your list! By doing this, you’ll know exactly how much money you’re working with and will plan accordingly for your next shopping visit.
USE ONLY ONE CREDIT CARD.
Don’t use up all of your credit cards. This will ultimately end in more debt than you wanted. Instead, choose a credit card in purchasing cute childrens boutiques that has a low-interest rate. Paying it off will be much easier than paying off 3 different credit cards, each with their high-interest rates and advanced to you on the internet.
Take it a step further and limit yourself to only using cash! Put away your credit cards and only spend what you can afford. It may be an odd approach, but your credit will thank you later.
DON’T SHOP LAST MINUTE.
Impulsive shopping is what gets consumers into debt fast. The pressure of whether or not you’ll find a gift in time causes you to buy whatever gift you see first. By shopping early, you can make sure the gift you buy is both thoughtful and planned out.
Last minute shoppers don’t take advantage of all the good deals. When you shop early, you can match prices online or look for coupons and discounts that you may not consider if you wait until the last minute.
Trinity Enterprises LLC wants to make sure you not only enjoy your holidays but that you also protect your credit. The consequences of overspending can be more than you can handle. Always remember that we are one phone call away. We can always help you get back on track with one of the many services that we offer. We may not consolidate your debt, but we can restore your credit, enhance your credit and protect your credit! Happy Holidays!