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  • Nov 13, 2018

Stress-free Holiday Budgeting

Holiday shopping doesn't have to be stressful, GFA will give you some tips on how to keep your cool this shopping season.

Is the thought of holiday shopping already stressing your out?  You are not alone, according to Experian, 55 percent of Americans have financial stress during the holidays.

Having a plan and budget is key to staying out of debt.  It is easy to make impulse buys during the Black Friday specials, but this can lead to overdraft charges or an oversized credit card bill if you are not careful.

Here are some tips to keep you on track:

  1. Make a list - Write down everyone you need to buy for and make a price range.  Try to figure out in advance what you are buying each person and look for sales.
  2. Stay on your budget - Don't get fooled by gaining an extra 15% off your purchase if you sign up for a store credit card.  That store credit card has a high interest rate you will end up paying more for in the end.
  3. If you use a credit card, use it wisely - If you make purchases for holiday gifts with your credit card, try to pay it off right away so you are not paying for unnecessary interest.

Don't stress about the holidays, just keep on your budget and watch your spending habits.  This will be a great way to kick off your finances in the new year.

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