The holidays mean something different to everyone. To some people it is about enjoying family and friends that they have not seen all year. To others, it is a time to go and enjoy a vacation or to indulge in winter activities. Or many people, it is about large holiday parties, gift-giving, and celebrating their religious beliefs. No one, however, thinks of the holidays as a way to get into financial distress.
Yet, this happens to many people. Overspending during the holiday season on gifts, celebrations and other items leads to financial problems in the New Year.
Enjoying the holidays does not have to cause you financial stress. Savvy shoppers know that there are ways to avoid going off budget during the holidays while still enjoying a lavish holiday season.
How To Shop For The Holidays Without Going Into Debt
• Take Advantage Of Layaway. You will want to take advantage of any store that offers a layaway program. Layaway gives you up to three months to make payments on the items that you desire to purchase. This allows you to work the cost of these items into your budget without having to charge them on a credit card or avoid paying a bill to cover their costs. Some stores will even create layaways online and all you have to do is pick them up at the store when it is paid off.
• Shop Early. Shopping in October is one of the best ways to save money. Not only are prices still pre-seasonally low, you will also avoid the rush and impulse buying often associated with holiday shopping.
• Shop Late. The week before Christmas will be filled with outrageous deals. Retailers are anxious to move holiday products and reduce stock before year-end inventory. Sometimes procrastination pays off.
• Take Advantage Of Online Specials. Many of the major stores will run online-only specials throughout the holiday season. Look for special codes using your favorite search engine for additional discounts and free shipping.
• Avoid Credit Card Purchases. Forcing yourself to pay with cash or your debit card will be one of the best ways to stay on budget. When you delay payments by using a credit card it is much easier to spend money you cannot afford.
If you do find in January that you went overboard, do not panic too much. You can overcome this problem without going into financial distress and eventual bankruptcy. If your are considering bankruptcy, it is important to talk to a professional about it, like these experienced Las Vegas bankruptcy lawyers. The first thing that you must do is figure out the extent of your problems so you can address each issue properly.
If necessary, contact the company with the problem debt and try to make arrangements. Most companies understand that things happen and will be willing to work with you, especially if you address the issue before it becomes a real problem.