Christmas Loans

The Holiday Borrowing Risk List

Ch. 5.  Takeaway Tips

Remember these top tips to keep you from getting a holiday debt hangover in the New Year:

  • It’s never too late to make a budget
  • Only buy what you can really afford!
  • Do your research: even if you don’t have the best credit, you have options to finance your holiday cheer.
  • Make a plan for paying back what you borrow
  • If it sounds too good to be true, it probably is.
  • You can delay gratification during the holidays. Give the gift of a summer trip or a fun family experience, instead of a bunch of small things that may fall from favor fast.
  • It’s OK to not buy your second cousin that $15 Starbucks gift card, send a nice holiday card instead.
  • Make handmade decorations with your family, friends or coworkers to add some bonding time while making more affordable holiday cheer.
  • Shop early: buy a couple of gifts out of each paycheck earlier in the year if possible, when items aren’t marked up so that they can appear “discounted” during the big shopping days.

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