7 Easy Ways To Avoid Huge Holiday Debt

November 24, 2020 | Emma Frost

holiday budget plan

 

Gifts, parties, vacations — these are all part of what makes the season so special. However, if you’re not careful you’ll start the new year with huge holiday debt.

That doesn’t mean you need to turn into Scrooge. Here are ways you can enjoy the holidays to the fullest, without making a mess of your finances.

Don’t Burn A Hole In Your Wallet This Holiday Season

1. Create A Budget

You know you’ll be spending a lot more than you usually do, it happens to all of us. However, that doesn’t mean you throw the budget out the window and think, “never mind, this only happens once a year!” Instead, create a special holiday budget that includes all the extra expenses. This can include:

  • Gifts
  • Decorations
  • Food
  • Personal shopping
  • Dining out
  • Travel

Look at how much you spent last year, so you have a realistic idea of your actual expenses. But take charge and consciously allocate funds. Do you want to spend less on gifts, so you have more money for travel? Holiday budgets don’t deprive you of fun, they let you spend on what matters to you.

2. Get An Extra Source Of Holiday Income

Find a part-time job. Retail stores and restaurants often look for extra hands during this time; it’s not a glamorous gig, but the extra cash can help cover some of your holiday expenses. If everyone raves about your cookies and casseroles, consider taking orders just for the season. There are several side gigs you can take on during the holidays!

3. Start Looking For Deals Early

Compare prices to find the best deals. Many stores have holiday promotions as early as November, and if you plan to travel then you’ll get a better price now than if you book at the last minute.

4. Rethink Your Gift List

Can you give homemade gifts, group gifts, or even skip gift-giving altogether? Talk to your friends and family; they’re probably facing the same financial challenges, and will completely understand your need to control your holiday budget. For example, you and your friends can just have a good dinner together. Or, you and your partner can decide to add to your emergency fund or buy a much-needed appliance instead of buying a gift.

5. Find Cheaper Alternatives

Throwing a party? A brunch tends to be less expensive than an evening party since you don’t have to spend a lot on drinks. If you’re preparing a dish for a potluck, pick a recipe that doesn’t require a lot of premium ingredients—especially if you need to cook for a crowd!

If you’re buying tickets, compare the prices of flights. You may save a significant amount by booking an early morning flight, changing airlines, or flying out on a weekday.

6. Enjoy The Simple Pleasures

Slow down and savor the holiday rituals and experiences that are absolutely free. Play your favorite Christmas songs while sipping a hot cup of cocoa. Go ice skating, build a snowman, or get into a snow fight. Bring out the family albums and home videos and relive your favorite holiday memories. Spend time with your loved ones; more than shopping and parties, this season is really about being grateful for the people who make life special.

7. Find emergency holiday money

While these tips can help prevent frivolous holiday debt, what happens if you suddenly face a financial emergency and need to quickly raise cash? Perhaps your home or car was damaged in bad winter weather, or a family member suddenly got sick. It’s terrible enough to have this happened during the holidays, but now you’re stressed out trying to find money to solve the problem. That’s when an Alabama title pawn or an Alabama online payday loan can help.

 

holiday planning budget

 

What Are Title Pawns and Payday Loans

Title pawns and payday loans are short-term financial help that doesn’t require a high credit history. They are easy to apply for and take a short time to process, so you can raise emergency funds very quickly. Through Alabama Title Loans, Inc., you can even start the application form today from the comfort of your home — which is very convenient during the busy holiday season!

Alabama title pawns use your vehicle’s – either your car, truck, SUV, RV, or even your motorcycle – title as collateral. You can still use it during the duration of your loan as long as you stick to the repayment schedule. The amount you can borrow depends on the vehicle’s value and condition – so expect a quick inspection of your vehicle when you arrive.

Payday loans bridge the gap between pay periods when an emergency strikes that needs to be solved right away. So if a pipe bursts or your car’s radiator gives out before you have the cash to handle those issues, a payday loan can help out.

How Do I Get Online Payday Loans Or Title Pawns?

Our process is simple for anyone and everyone to go through. To begin, just fill out the online form found right on our homepage. Once we receive your form, a loan associate will get in contact with you to go over the process. The representative will let you know what you have to bring with you and answer any of your questions.

For payday loans, you will have to bring your ID, your social security card, your most recent pay stub, a 30-day bank statement from your checking account, and a blank check from an active checking account in your name.

For title loans, you will have to bring your ID or driver’s license, your vehicle’s title that is free of prior loans and in your name, and your vehicle for the inspection.

When you arrive at a title pawns near me in Alabama, we will go over your items and let you know if you’ve been approved. If you are approved then we will go over the loan terms and have you sign the agreement. Once everything is signed you are done! We will hand you the cash you qualify for and you can be on your way!

This holiday season does not need to burn a hole through your wallet. With these tips, you can make sure to have a great holiday while not blowing up your finances!