How to Manage Your Debt Load and the HolidaysDec 06, 2017
Managing your debt load during the holidays can seem daunting with all of the extra spending you might face this month, but you can do it! Getting help with debt starts at home. We’ve put together a few tips to help you stay on track with your financial goals this holiday season.
- Communicate with family and friends
You do not need to get into the fine details, but having conversations with friends and family about wanting to scale-back spending is a great way to start. Offer up some creative ideas that can cut costs, but still bring all of the fun, joy and lasting memories.
Here are a couple of ideas for starters:
- Potluck dinners
- Secret Santa gift exchanges
- Volunteer with local charities
- Have a holiday plan
There are lots of great holiday apps that can help you save money. Use them to stay organized and save. Most importantly, create a holiday budget and stick to it. Managing your debt load doesn’t get to take a backseat because it’s the holidays, but it doesn’t have to put a damper on all the fun either!
- Get help with debt
Debt relief doesn’t have to mean a formal solution like a consumer proposal or bankruptcy. Depending on your situation, a debt relief option like a consolidation loan could make your debt more manageable by merging multiple debts into one loan.
Talking with a professional can help you understand the debt options available and the next steps for your situation. Knowing your options can also provide stress relief in what can be a very stressful time of year.
These are only a few of the many things you can do to help manage your debt load this holiday season. Check out this blog from Hope + Cents for more ideas on how to have a frugal and fun holiday season!