The end-of-the-year holidays are a wonderful time but also an expensive one. Thousands of families spend more than they should on holiday travel, buying gifts, decorating their homes, and creating a holiday-spirited atmosphere for their loved ones. Can you relate?

Thankfully, there are ways to have a great holiday and avoid holiday debt. Check out these ten tips for keeping your holidays jolly and financially savvy.

Ways You Can Avoid Holiday Debt

1. Know How Much You Have To Spend

It’s easy to get carried away with holiday spending, especially once you see those flashy “sale” signs and your kids ask for Christmas presents. As tough as it may be, you need to know how much you have available to spend before you begin holiday shopping.

Pull that money out in cash if you can, and leave your credit and debit cards at home. This will help you stick to your holiday budget and avoid holiday debt. You may not like the number, but sticking to it will allow you to start your new year off right.  

2. Take On A Seasonal Position

If you don’t have enough money to buy the things you want this holiday, consider taking on a seasonal position before the end of the year to make a few extra bucks. Plenty of places start hiring around October and even November to cover the waves of tourists and shoppers that flood stores in December.

Consider taking on a part-time role on weekends or evenings at a clothing store, U-pick farm, or supermarket. You could also perform odd jobs like raking leaves, shoveling snow, babysitting, pet sitting, catering, or setting up holiday parties.

3. Remember, Not Everyone Needs a Gift

Sometimes during holiday shopping, you feel like you need to buy presents for a hundred people. Every family is different, but it’s important to remember that not everyone needs a gift.

It’s ok and acceptable to only purchase gifts for your immediate family or children and to tell other adults in your life that you’re on a budget and will have to hold off on their presents until next year.

4. Organize A Secret Santa Or Gift Exchange

If you feel that tip #3 is too harsh, consider a compromise of hosting a Secret Santa or gift exchange. This works great for large family or friend gatherings, so each person only has to buy one gift. Some of these exchanges, such as the White Elephant game, can be a lot of fun too!

5. Check Prices Online First

It’s best to compare prices before deciding where to buy your items. Before you head to the stores, check the prices of things on your shopping list online. Sometimes, you can get a better deal off of sites like Amazon than from your local department store. 

6. Take Advantage of Black Friday Deals

Unsurprisingly, you can find some of the best deals on Black Friday and Cyber Monday. Look out for excellent prices on electronics, jewelry, and other items you were planning to buy anyway, but don’t get carried away and get things just because they are on sale.

7. Buy Second-Hand Holiday Decorations

If you’re big into decorating your home for the holidays, head to your local second-hand shop or look on Facebook Marketplace for great deals on lightly-used decorations, Christmas trees, and more. You could save half the price, and nobody will know the difference.

8. Consider A No-Fee Layaway Program

Many stores offer a layaway program that lets you pay off your items in increments and pick them up once you’ve paid them off. This is better than the alternative of credit cards because many layaway programs have a 0% interest rate.

9. Only Spend What You Can

The most important tip to avoid holiday debt is to spend within your means. You must avoid shiny-object syndrome, stick to your budget, and only spend on things you have decided on before arriving at the store.

10. Pay Off Your Bills Before Shopping

While the goal should be to avoid holiday debt, you should only start holiday spending after your urgent bills have been paid. If you have a pending expense that needs to be taken care of ASAP, such as a medical bill, car repair, or overdue rent or utility bill, consider getting an installment loan to pay it off before the end of the year.

Start Managing Your Expenses The Right Way Today!

To enjoy your holidays to the fullest, you should avoid holiday debt while also taking care of your most important bills. Installment loans may help you with the latter, especially if you’re facing a financial emergency and need cash fast.

Installment loans from Delaware Title Loans, Inc. can put up to $1,500 in your pocket on the same day or the following business day, and the in-person process can take as little as 30 minutes!

To apply, you need the following:

• Driver’s License or State Issued I.D.
• Proof of income (your most recent pay stub)
• Checking account statement in your name

You can get started by filling out our inquiry form, and a trusted representative will give you a call to walk you through the process. Reach out to Delaware Title Loans, Inc. today to hear about your options and set yourself up for the best end of the year yet!

Enjoyed this article? We have plenty more tips on how to handle your money wisely during the holidays!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.