Christmas Loans

The Holiday Borrowing Risk List


Introduction

You might wake up with two hangovers on New Year’s Day: one from your holiday celebrations, and another from your holiday spending. Between the Christmas parties, the gifts for friends and family, and the expectation to always be merry and bright, it can be easy to overspend during the holiday season.

And while the effects of alcohol will wear off with a bit of rest and a plate of greasy food, you might be working off that financial hangover for a long time.

Consumers are projected to spend an average of $967 this holiday season on candy, gifts, decorations and other holiday items for themselves, family or friends.1

Here’s the good news: it’s totally possible to enjoy everything the holidays have to offer and buy meaningful presents for the people you love WITHOUT draining your bank accounts, maxing out your credit cards, or racking up tons of debt from predatory lenders.

Planning in advance and knowing the traps of predatory lenders will help you avoid making costly mistakes that could haunt you like the ghost of Christmas Past. main3

Today, Americans have a collective $12.4 trillion borrowed through mortgages, car loans, credit cards and other types of loans.2 The idea that the United States was a nation built on thriftiness and savings is as false as they come: there was never a “golden age of thrift.” People have always gone into debt in order to keep up appearances,3 and the cultural pressure to outspend is never greater than during the holiday season.

So with that in mind, this ebook is going to dive into the details and dangers of holiday borrowing to help you have a more meaningful and financially responsible holiday.

If you’re looking for a holiday loan, we’ll tell you all about the risky financial propositions you might be faced with and how many predatory lenders will try to sell you dangerous financial products designed to trap you in a cycle of debt.

Finally, if you do need to borrow for responsible reasons, we’ll help you identify the safest ways to get the money you do need in ways that you can afford to repay.

Let’s get started!

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