Avoid Holiday Debt This Year With These Money-Saving Tips
Retail industry experts predict that on average we each will spend almost a thousand dollars on gifts, food, and festivities-related items this holiday season – emphasizing the real hit to our pocketbooks through New Year’s Day. With a reeling economy impacting the finances of many Americans, it’s all too easy to rack up debt this holiday season.
The sooner you can put together a plan to avoid taking on too much debt, the better. Following are tips to avoid holiday debt this year, by taking action to save money in the weeks ahead.
Gain Financial Peace of Mind in the Months Ahead
Reduce The Amount You Drive
Perhaps a vast understatement, gasoline is not cheap. Despite steep gas price drops earlier in the year due to the pandemic restrictions, it still costs a lot today to drive all over the place.
It could be a good year to shop more online, or only at brick-and-mortar stores close to home, than past practices of shopping with a regional mentality.
Think about how you spend while bouncing around locations in a car. Eventually, we eat out, might have an urge to visit a car wash, run other errands, etc. Avoiding car rides as much as possible short-term could provide significant savings in the long-term.
Reuse And Repurpose Your Decorations
Each year it seems we tack onto our holiday decorations collection. It’s easy since we often need bulb replacements for strings of lights. Of course, while you are at the store, the first thing you are bound to see is the pretty displays full of decorations. Before you know it, your trunk is filled with new decorations.
This year try not to buy new decorations. This is a good time to redesign and repurpose the decorations you already have. With a little creativity, you can come up with different decorating motifs using the same decorations. So you can have the fun of decorating but avoid purchasing holiday decorations when they are most in-demand – and therefore most expensive.
Sell Items You No Longer Need Or Use
Think of this as a hobby that will consume time and prevent you from spending too much: sell your unwanted or unneeded property. The cost savings from not shopping as much, plus eliminating storage costs if you can, can add up.
Nowadays, more than ever it is easy to sell items. Think of the website options like Amazon.com, Craigslist, eBay or Facebook Marketplace, or app-focused sales platforms like OfferUp or LetGo. These services are booming because, well, we have too much junk. Who couldn’t appreciate more space at home or more money in the pocket?
Most of us have to rearrange the garage anyway to pull out holiday decorations. While at it, carefully consider what you see. Just capture a few digital images, and spend a little time writing and posting for-sale ads, and impact your bottom line through year’s end.
Use Your Vehicle To Help Get Extra Cash
Those who own a vehicle have an edge they may overlook or not be aware of to get through the holidays and post-holidays financially. Let’s face it, emergencies don’t stop just because it is the holiday season. If the idea of dealing with an emergency while also dealing with the holidays is terrifying, turn to Delaware title loans for help.
What Is A Title Loan?
A title loan is a short-term, secured loan that uses your vehicle’s title as collateral. You get to keep your vehicle while repaying the loan – just make sure to stick to the repayment schedule. And this loan can help you handle any tough emergencies you are experiencing.
Understand Our Title Loans Process
Delaware Title Loans, inc., wants to make sure the title loans process is as simple and convenient as possible. We don’t mess with a process that takes days or even weeks to complete. Don’t take our word for it, check out our step-by-step guide below:
- Complete our online form. Once submitted it goes to a location near you and a loan associate will call for assistance.
- During the call, you can choose to have the associate come to you at a location of your choice. Of course, if you prefer, you can still visit one of our title loan locations in Delaware.
- With a loan associate, present the required items such as a state-issued driver’s license or photo ID, a lien-free vehicle title in your name, and the vehicle in question. The loan associate will do a timely vehicle inspection to ascertain its condition and value -- which helps determine the loan amount you can qualify for.
- You and the loan associate review terms of the loan – if it’s approved. Then you sign and get money either the same day or the very next bank business day. The entire process could take as little as 30 minutes.
With this loan, You can get up to $15,000! However, it is important to note that car title loans are intended to bridge emergencies or urgent situations, like medical bills, home or auto repairs, or essential travel.
There are solutions for extra holiday and post-holiday cash, including part-time or seasonal work, or selling items you own for a bit of extra income. You also can even handle any emergencies that pop up during the holidays with a title loan. Take action now, begin the process, and gain peace of mind down the road.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.