With the holidays on the horizon, you’ll probably be spending more money over the next couple of months than you normally would over a two-month span. To make sure you don’t wind up in debt, adhere to these five tips, courtesy of Quality Credit Repair, one of the best credit counseling agencies serving Bucks County, PA.
Make a budget. Determine how much money you can spend on gifts, entertainment, traveling, decorations, parties and holiday outfits. Identify a reasonable amount that won’t burden you as you.
List who you need to buy gifts for. You’d hate to leave anyone out, but buying something for everyone is a little ridiculous. Leave yourself some wiggle room in case you forget about anyone. Don’t buy gifts blindly without devising an outline for who you’re buying something for.
DIY. Save money by doing it yourself! Give something with a personal touch that you spent time and effort making. Think about that person’s particular interests and research some ideas if nothing comes to mind. Once you have the perfect idea, go ahead and create a gift that comes straight from the heart.
Keep cash on hand. Going into your wallet and using actual dollar bills makes the purchase feel real. When you have cash, you have a better idea of how much money you started with, often resulting you to be more cautious with it. This psychological approach can really make a difference.
Be careful with credit cards. While carrying cash has its benefits, you should also capitalize on the reward programs that your credit cards offer as long as you don’t spend more than 30% of your available limit. It is also great to take advantage of rewards as long as is doesn’t cost you in a different form. Depending on what kind of purchases are eligible for rewards, be sure to use your card methodically to gain and redeem as many points as possible. Therefore, you’ll have more leeway when buying miscellaneous items throughout the upcoming weeks.
Think before you spend money this holiday season. The last thing you want is to accumulate debt and fail to make payments heading into the new year. If you’re already struggling with debt, restore your credit rating in Philadelphia with our credit counseling services from our team at Quality Credit Repair. Call 888-399-3898 today!