The 2019 holiday shopping season is almost upon us. Notoriously, holiday shopping is one of the largest contributors to increased credit card debt – people get in the holiday spirit and spend much more than they should.
This year, you can shop smarter and still get gifts for everyone on your list, all while avoiding additional credit card debt. With a bit of planning and a smidgen of self control, you won’t have to be afraid of this year’s holiday shopping season.
Make a list (it works for Santa)
Think about everyone you’ll be buying gifts for, then put them all on a list. Go back through the list and give each name a dollar amount. With a price limit on each item, it’s much easier to stick to your budget and avoid overspending.
Shop smarter (don’t get distracted)
If you’re shopping and you see an awesome deal, pause and pull out your phone. Check online and see if you can find a better price. If you find a better deal, see if the store you’re in will price match (most stores will) – otherwise, buy the item at the cheaper online price.
Pay with cash (avoid using credit)
Paying with cash is one of the old stand-by tips for avoiding debt – but it’s on every list for a reason. If you use cash in hand to buy your holiday gifts, you won’t rack up any additional credit card debt. This is even more important if you’re already struggling with debt.
Shop early (weeks before, not early in the morning)
You’ve already spent the time to make a list – if you spend some time doing research and finding the best deals, you’ll save significant money. In fact, according to a recent study, last-minute shoppers spend an average of $250 more.
Put aside money for big items
If you’re buying a big-ticket item, start saving early – Christmas is still two months away. You can set money aside monthly, or even weekly – but with a bit of planning and time, you’ll be able to buy that big item without financial strain.
Shop online to save time and money
When you shop online, you’ve got plenty of time to research and compare items. You won’t be distracted by crowds or misleading specials. You’ll save money and a bit of your sanity.
Avoid shipping charges
Look for online vendors who offer free shipping – sometimes, it’s worth spending a bit more money on a few items if you can skip the expensive shipping charges.
Be smart about Black Friday and Cyber Monday
Sure, sometimes the doorbuster deals really are amazing – but you’ll be researching prices beforehand, and many times you’ll find comparable deals elsewhere. Many of the stores offer the same deals online, and shopping at home means you can skip the insane crowds.
If you follow these tips, you’ll be able to avoid racking up tons of additional credit card debt this holiday season. If your credit card debt is already spinning out of control, call us today at 214-760-7777 to schedule a free consultation. We’ll listen to your situation and recommend the best course of action, so you can get started on the road to recovery!