It is an exciting time of the year. Most people are gearing up for the holiday season and with that comes the infectious and delightful festive spirit. It is the time of gift-giving, and that means spending money, and not only on your friends and family. We are all expected to spend on people and occasions we didn’t account for throughout the year. Let’s take a look at how to get out of debt
It’s only obvious in the festive season that we get carried away with gift-giving and spending. Unfortunately, we can find ourselves in a real blind come January the following year.
By managing your expenditure this festive season, you won’t have to apply for a personal loan online and potentially start the New Year in the negative. Here is how to get out of debt this festive season.
If you are currently in debt it is best to apply for debt rescue. Debt Rescue is a great way of consolidating your debt to make it a lot easier to pay off your expenses, apply now, and you will be contacted by a debt expert.
Manage available store credit: Preaching about not using store cards this season would be foolish. Most people are likely to end up spending a bit on them. If you are going to make gift purchases on your store card, make sure you budget. Whatever the repayment is, it must be included in your monthly expenses going forward.
Manage your credit card: You must only use a credit card with the goal of repaying the full amount at month end. Most banking institutions offer credit cards with a six-month interest-free repayment option. This means that if the credit used is repaid within six months, no interest is charged.