How to Avoid Holiday Debt Without Sacrificing the Joy of Giving
The holiday season often brings financial strain, with rising debt and inflation adding pressure. Experts suggest planning ahead to avoid overspending on gifts, flights, and celebrations. Simple steps can help families enjoy the festivities without long-term money worries.
Setting a clear budget is the first step to managing holiday costs. Experts advise deciding on a spending limit and listing priorities, such as essential gifts or travel, before making any purchases. Using cash or a dedicated prepaid card can prevent reliance on credit, reducing the risk of debt.
With careful planning, the holidays don’t have to lead to financial stress. Budgeting, early shopping, and prioritising meaningful experiences over extravagant spending can keep costs under control. Those already in debt can access free tools and advice to stay on track.
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