How to Avoid Holiday Debt This Christmas
The holidays should bring joy, not financial stress. But with gifts, travel, and celebrations, many people end up facing holiday debt that follows them into the new year. The good news? You can stay in control this season by learning how to budget for a holiday and making smart spending choices.
If you ever find yourself needing extra cash for emergencies, a title loan from Fast Auto Loans, Inc. can help bridge the gap without ruining your holiday budget.
6 Ways To Avoid Holiday Debt
1. Make A Holiday Budget
The best way to avoid holiday debt starts with creating a clear holiday budget. Write down your expected expenses: gifts, food, travel, and decorations, and decide how much you can realistically spend in each category.
Here’s how to budget for a holiday step-by-step:
- Set a total spending limit and stick to it.
- Include hidden costs like gift wrapping, gas, and postage.
- Use a holiday budgeting app or spreadsheet to track spending.
- Start saving early, even small amounts each week help.
Pro Tip: Review your spending from last year to see where you can cut back this time.
2. Simplify Your Holiday Spending
If your finances are tighter this year, simplifying gift-giving may be the way to go to avoid holiday debt. Chat with your family and friends and see if you can come to an agreement on gift-giving.
Perhaps it’s setting a rule of giving just one gift this year or spending under a certain amount. Consider making decorations (and gifts) to save even more cash. Because you don’t have to put yourself in debt to enjoy the holiday.
3. Shop Smart and Take Advantage of Sales
Planning your shopping early is key to staying within your holiday budget. Watch for deals throughout the season and compare prices before buying.
Consider:
- Shopping on sales days like Black Friday or Cyber Monday.
- Using browser extensions that find discount codes automatically.
- Signing up for store reward programs or cash-back apps.
By shopping strategically, you’ll spend less and stay out of holiday debt long after the season ends.
4. Use Cash-Back and Rewards Programs
It’s easier than ever to get rewarded just for shopping — and that doesn’t stop during the holidays. If you’re spending lots of holiday cash, you can get a lot of holiday cashback.
Start with your credit card and get an overview of standard cashback offers, perks, and any special deals during the holidays. Many offer cashback and reward points on items like gift cards or for shopping at specific stores.
And throughout the season, there may be fluctuating cashback amounts from your favorite stores.
5. Be Strategic With Holiday Travel
Doing a bit of research and preparation is important to avoiding holiday debt this season, especially if you have to fly during the holidays.
Book as far ahead as possible and save a lot of cash by flying on what tend to be the cheapest days — Tuesday, Wednesday, and Saturday, and at off hours, such as the early morning or late at night.
6. Create a Payment Plan After the Holidays
Once the holiday season wraps up, take a look at your spending and prioritize payments.
Many financial advisers recommend paying the highest interest off first, but others say paying off the smallest amount first works well, too, especially if you have a somewhat more tenuous financial situation overall.
Even if your holiday debt is high and overwhelming, there are options. One route is using a balance transfer card to consolidate the debt, especially a card with a low or zero interest rate.
Even with the consolidated date, you’ll still need a solid payment plan, so you won’t be paying off the previous year’s holiday debt next Christmas.
And if your expenses were higher than expected, there are ways to get back on track, like using a title loan for short-term financial relief.
Going Through a Financial Emergency? Consider a Title Loan
Unexpected expenses, medical bills, home repairs, or last-minute travel, can hit during the holidays. A title loan from Fast Auto Loans, Inc. can help you handle emergencies quickly without turning to high-interest credit cards.
How a Title Loan Works:
- Fill out the online form on our homepage.
- A representative calls to review your info.
- Bring your lien-free vehicle title, ID, and car for a short inspection.
- Get approved and receive your cash — often the same day!
You can borrow $300 to $15,000 based on your vehicle’s value and keep driving your car while making payments.
Learn more about title loans in Arizona and how they can help you manage your holiday budget.
Title Loan FAQs
1. What is a title loan?
A title loan lets you use your car’s title as collateral to borrow money while keeping your vehicle.
2. How much can I borrow with a title loan?
At Fast Auto Loans, Inc., you can borrow between $300 and $15,000, depending on your vehicle’s value.
3. Can I get a title loan with bad credit?
Yes. We accept applications from people with all credit types, since approval is based mainly on your vehicle’s condition and title.
4. How fast can I get my cash?
Most borrowers receive their money the same day after approval.
5. Will I lose my car if I take a title loan?
No. You keep driving your vehicle while repaying the loan.
Get Started Today
Everyone is capable of avoiding holiday debt — and overcoming a financial emergency that comes their way. All it takes is the right mindset, a little know-how, and a strategic plan that is put into action. And if you need a little extra help, try a title loan.
To pursue a car title loan today, start online, give us a call, or visit a Fast Auto Loans, Inc. location near you. With several locations situated across the state, you are certain to find a store that can help you handle your financial emergency today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
