Tips For Avoiding Future Holiday Debts
A lot of people stress over the holiday, especially when it has the potential to put them in debt. Because of that, January is often a stressful month as well. It’s a time when people try to either pay off credit card debt or cut back on spending to get back on track with their bank accounts. But that's no way to live.
The holidays shouldn't be a time you spend upset and stressed over money just to provide your family with a nice Christmas. But the ongoing expense of entertaining family or traveling to see them, buying gifts, and trying to give your children experiences they'll remember can last from Thanksgiving to New Year's Day.
If this sounds all too familiar, there are ways to have a great holiday season without all the debt. The secret is to implement some simple steps to avoid future holiday debts. Below are some ideas of where to start.
Avoiding Future Holiday Debt
Spread Costs Throughout The Year
This year, for the first time in many years, people started buying Christmas gifts and other items during the summer to spread out their holiday spending over several months. This allows them to pay more in cash and take advantage of late summer sales.
An easy way to implement this strategy is to get boxes for those you plan on giving presents to, label them, and put them in your closet. Throughout the year, buy gifts as you see something one of them may want on sale. Put each gift in a designated box.
By the time the holidays roll around, you have all your purchased items and all you have to do is wrap them.
Bake And Freeze
Another way to alleviate stress is to do holiday baking earlier in the fall. Pies and cakes freeze well. Baking earlier spreads out the cost as well as the time and effort. It also keeps you from buying a pre-made dessert at the last minute, which can often cost more.
Start A Christmas Stocking Fund
Many financial institutions are reviving the Christmas Stocking Fund accounts where people stash away a few bucks every paycheck throughout the year to have extra money to spend at Christmas. It's a good way to avoid holiday debt.
You can do the same even if your bank doesn't have a specific holiday fund account. Open a separate savings account or get a prepaid card where you can allocate part of your paycheck to go into that account or card directly. You will never miss the money because you don't see it. When the season rolls around, you will already have the cash you need for the holidays.
Money Needed Today
Ideas to eliminate holiday debt next year may not help your situation now. There may be an urgent need for quick cash to pay for a holiday emergency. If so, one option for this year is to get some short-term financing.
It's a way to get through the holiday without long-term debt hanging over your head. It also offers options for those who don't have credit cards, have bad or no credit, or who otherwise wouldn't qualify for a personal loan from a bank.
Lending In Mississippi
Mississippi Title Loans, Inc. offers several types of loans including title loans, payday loans, and signature installment loans. Title loans range from $300 to $2,500. You will need a driver's license or state-issued ID, a clean title, and the vehicle available for inspection to determine the amount you can borrow. Payday loans range from $100 to $400. Requirements for this type of loan are a driver's license or state-issued ID, your most recent pay stub, and a blank check from an active checking account that lists you as the account holder.
Signature installment loans have a $1,250 maximum lending amount. You will need a driver's license or state-issued ID, your most recent pay stub and a monthly checking account statement listing you as an account holder. This lender will also take a look at your credit history for an installment loan.
Finding Out More
We have loan representatives available to explain each of these loan options and their processes. To speak with one of their representatives today, fill out the online inquiry form and submit it. When you receive the call take a few moments to ask any questions you have so you can determine which loan option is right for you.
They will help schedule an appointment to come into the store to fill out paperwork for approval. One benefit of using the online form is that you don't have to come into the store to seek a title loan. You can meet a loan representative at a location more convenient and comfortable for you.
Either way, the loan representative will check all your required items and help you with the final paperwork. This can take as little as 30 minutes and those approved will get the money needed the same day or the next business day.
Submit The Form
Go ahead and submit the inquiry form to see how Mississippi Title Loans, Inc. can offer you peace of mind during the holidays. It can offer you the help you need while you work out how to avoid holiday debt next year. Being able to enjoy the season without stressing over urgent bills or emergency funding will make it a little brighter. Submit the form 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.