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How to maintain your credit during the holidays, credit repair, how to maintain a good credit score, how not to overspend at Christmas
(My face while playing Santa vs. my face looking at the credit card bills in January!)
“It’s not what’s under the Christmas tree that matters, but who’s around it. ” – Charlie Brown, A Charlie brown Christmas
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The holidays are such an easy time to overspend. Between holiday parties and shopping for gifts for loved ones, we can easily overspend and cause our credit scores to plummet. I, myself, am guilty of doing this during many holidays passed. I used to overspend on food and gifts, then I would panic every January when the bills came. A few months ago I shared how I was able to fix my credit and buy a house but maintaining good credit during holidays and all year is equally important.
Today I have a few easy ways to help you keep your holiday spending in check and in turn maintain a healthy credit score!
Make a List & Check it Twice
I don’t know about you but I am a list-maker. Whether I am at the grocery store or shopping for gifts I always make a list. Making a list helps me stick to my spending plan. I also suggest writing down who you are shopping for and what you plan to buy. Cross off anything that is not a necessity. Your Dad probably does not need another tie!
Don’t feel the need to buy a gift for every single one of your child’s teachers. They are most likely going to get tons of gifts, from tons of kids. Ask your child which teacher has inspired them this year and let that be the one you shop for. If you have a huge family suggest to all of them the option of a Secret Santa. This way you don’t have to feel obligated to purchase a gift for everyone.
Say No When Needed
It’s ok to say no to attending holiday parties. I have already been invited to at least 10 parties this year. Most require you bring a gift for Secret Santa or White Elephant. Some require an ugly sweater. If I attended every one of these parties I could end up spending hundreds of dollars. Over the years I have learned to decline on some events when I know that it won’t fit into my budget. Maybe pick 1-2 parties to attend if you can then switch it up the following year and go to the others.
If you do still want to attend every party…..consider a handmade gift, like baked goods. White Elephant gifts are funny gag gifts. You can easily craft a gag gift with a little Pinterest help! An ugly sweater handmade by you will probably be the ugliest at the party and cost little to nothing out of your pocket!
Finding little ways to cut your spending now can save you thousands of dollars in high interest later.
Let Others Help
If you are hosting a holiday dinner don’t feel the need to do everything alone. When you send out invites, let guests know it is a potluck style dinner. This lets your guests know they should bring a dish. You can even tell them to let you know what they will be bringing when they RSVP. By doing so you can get an idea of what you need to buy. If your Aunt Martha is bringing her famous Pumpkin Pie then there is no need for you to go out and get one too.
Even if you don’t mention “potluck” to your guests, chances are they will ask you what they can bring. The worst thing you can do is say “nothing.” Don’t be afraid to say “How about you bring mashed potatoes?” Besides, the holidays are not all about spending as much as you can. The holidays are about enjoying the season with your family and one person should not carry all of the financial load when it comes to holiday gatherings.
Shopping for Kids
This might be one of the hardest rules to stick to but I try to buy things my kids really need vs. what they want. When I think back to when my kids were babies every Christmas I would shower them with toys. Yes their eyes did light up when they opened their gifts and saw the pretty packaging but most of those toys were played with once and tossed to the side. I cringe at thought of how much money I spent on toys. Things like clothing and books that made their way to storytime every night were better options. If you are shopping for other people’s kids, I’m 99% sure they don’t need more toys scattered across their living room so keep that in mind.
No matter how vigilant you are about your spending during Christmas, you may need a little help along the way. The trusted credit repair professionals at CreditRepair.com are always happy to help you on your credit journey. When I first started my financial journey many companies treated me poorly due to my past financial decisions but CreditRepair.com believes that your credit is not set in stone. As one of the top credit repair companies in the United States, they have served over 500,000 people in their journeys to financial freedom. As a member of CreditRepair.com you will have access to your own dashboard to keep track of your score as well as alerts and apps to help you monitor changes. You will also be able to interact directly with your creditors as well as the major credit bureaus!
You can schedule a free personalized credit consultation with CreditRepair.com, call them today!
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