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Taking Charge of Your Debt This Holiday Season: 4 Ways to Stay in Financial Control

take charge of your debtWithout a doubt, the holiday season is incredibly expensive. Between gifts, extra food, decorations, and shipping costs, it can be hard to stay on track financially during this festive season. Luckily, debt consolidation management can help lead you to the debt settlement you may need.

That being said, it’s best to avoid accruing more debt, a feat that can be nearly impossible during the holidays. If you know what you’re doing, though, you can avoid unforeseen financial pitfalls. Here are a few tips that can help.

1. Rethink your gift list

It is easy to go overboard during the holidays. You might even feel like you have to buy something for everybody. However, most people will be pleased with a simple card or homemade object instead of an expensive gadget from a big box store. Remember, it’s the thought that counts. Keep your budget in mind when you plan your gift list.

2. DIY your decorations

Decorations can cost a pretty penny, so think before you buy. If you want to cut down on your decor, focus your efforts solely on three areas in the home: the front door, the dining room or kitchen table, and a focal area in your living room such as a mantle or stairway. If you are feeling crafty, make these decorations by yourself with ribbon, tinsel, and ornaments you can get at discount craft stores. Doing so will not only save you money, but take the cost and stress out of the entire process, too.

3. Shop with cash

If you stop relying on your credit card, you can take charge of your debt more easily. Instead, keep track of what you’re spending and don’t get out of control. Come November, set your budget so you are not tempted to increase it, as your list will most likely grow in December!

4. Shop early

Remember, you don’t have to only buy during the holiday season. Look out for sales earlier in the year, and shop then. There are great sales all year long. Spreading out your spending will help you stay in financial control.

More than one-fourth of Americans admit to not paying their bills on time, and this number is sure to rise come the holiday season. Follow these tips to take charge of your debt this holiday season so you will be smiling all winter long.

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