It can be challenging, even during the non-holiday season, to keep up healthy spending habits. Throw Christmas into the mix and it can seem like an impossibility. However, with a little awareness and planning ahead, credit protection during the festive season is within reach. Heres some useful tips to help keep you on track, even when some extra seasonal expenses make their appearance.
- Dont overspend.
You want to spoil your loved ones and treat them to the wonderful gifts that you know they deserve, making overspending super easy. Instead of bypassing planning, start out by making a budget to help you not overspend. Break it down by each person you need to buy for and then set an amount for their gifts.
- Set up Autopay.
Christmas is a busy time and we, as humans, can forget things—important things, like due dates. If youre used to paying your bills manually, consider setting up autopay instead. Automatic payments will help you focus on the fun of the season (and help protect your credit score) instead of struggling to remember to pay them on time.
- Consider the purchases.
Do you need it? Dont just buy things because theyre a good deal. The holiday season is full of spending, and not just on gifts. Dont get sucked into buying things that might affect your credit score, i.e., things that require you to take out credit. Try to only buy things that you need (and are outlined in your budget) and don't come away from the seasonal sales with items you never even knew you wanted.
- Dont fall for online scams.
While you should always be wary of online scams, Christmas is a time when scamming tends to hit its peak. Ironic, considering its usually the time when money is the tightest. Scammers can not only take money from you, but could also make false credit or financial applications in your name. Just be extra alert to scammers when youre shopping online this Christmas and only purchase from reputable sites youre familiar with. You can also consider signing up for credit monitoring so youll receive email alerts if there are any changes to your credit. Credit safety first!
Everyones financial status and struggle is going to be different, so everyone will have to approach their holiday spending a little differently. Just remember that it is so important to take a step back and enjoy this festive season with those you love most. Sit back, relax, and enjoy your time so youre ready to tackle the new year.