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Here’s How You Can Avoid Holiday Debt 

As things become more and more expensive every year, it becomes difficult to find something of a reasonable price to give to your friends and family on holidays. Perhaps one of the most expensive times of the year is when you need to buy gifts for your loved ones. You do not want to fall into debt, but you also do not want to give them something cheap. 

This can put you in a dilemma. Overspending for kids, friends, and family is understandable, but being in debt is not a pleasant experience. If you have already put yourself in debt, consult a lawyer from Zero Debt Law Firm to find out what your options are. 

Tips to avoid holiday debt 

  • Set a budget. 

While setting a budget may not always work because of how easy it is to spend more than your limit, you will still have an idea of how much you can spend. Look at your savings and see how much you can spend and how much you need to save. 

Then, make a list of people you want to buy gifts for and write down how much you want to spend on each person. However, this will only help if you stay on target and do not exceed it. 

  • Take advantage of store credit card offers.

It is understandable that you may not want to burden yourself with more debt. But, applying for a store credit card can help you save bucks during the holiday season. Often these cards have no annual fees and offer discounts on your first purchase and during the holiday season. These can keep your holiday debt under control. 

  • Do not buy things for yourself. 

You may want to buy yourself a little something as an act of self-pampering and self-love. However, that might not be a good move when you already have to spend a lot of money on others. Striking your name from the gifting list will help you keep the debt situation under control. In fact, try buying gifts for people you love and are close to you, and exempt the others. 

  • Focus on meaningful gifts over pricey gifts. 

One thing you can do to save money is not focus on price but on how the gift will touch the person emotionally. Anyone can buy a $1000 smartphone, but making a scrapbook filled with the year’s memories requires effort, touching people emotionally, and showing that you care. Or, you could collect a few coupons for your loved one’s favorite brand and gift them to them. 

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