5 Strategies to Control Spending this Holiday Season
Have you noticed that holiday shopping seems to start earlier every year? The Halloween candy isn’t even off the shelves before stores start putting up displays with snowflakes and maybe a red-suited guy with a white beard.
For many, the arrival of the holiday season seems to send a reflexive signal to start spending. So let’s review some strategies to control spending so that your debt doesn’t spiral upwards and your credit score nosedives.
Be strategic about credit:
If you’re already carrying a balance:
If you are concerned about your credit score, it might be a better idea to pay for holiday shopping with cash. If lenders see a high credit utilization ratio, they’ll conclude that you’re “maxing out,” or doing more spending than you can pay for. Keep that in mind when you head to the mall (or online), be safe, and have a happy and solvent holiday season!
Now that you know more about holiday spending strategies,
get your credit report & score.