As we make our way through another holiday season, the last thing many of us want to think about is next Christmas. However, that may be exactly what we need to be doing to help us avoid racking up holiday debt in 2017.
In the midst of the holiday season, or even leading up to it, may not be the best time to plan your holiday budget. With so much going on, from festivities to travel to gift-giving, it can be easy to become overwhelmed. This can lead to over-spending, holiday debt and, in some cases, the beginnings of financial ruin. That’s why starting your Christmas 2017 budgeting now when the pressure’s off, because you’ve got 12 months to plan, may be the best way to go. Here are a couple of examples of how you can kick off your Christmas 2017 planning:
- Buy Christmas decorations, gift wrapping paper and other supplies immediately following Christmas day. Many retailers cut the prices for Christmas items in the days after the holiday, because they need to clear it from their shelves.
- Purchase non-specific Christmas gifts throughout the year to serve as stocking stuffers or Secret Santa items. Buying these items early helps you avoid paying more than you should for them, because you’re under the pressure of making a last-minute purchase.
What Can You Do If You’re Struggling with Holiday Debt?
For those already buried under the weight of Christmas 2016 debt and/or debt from other sources, like hospital bills and credit cards, there are options to help relieve your financial suffering. In some cases, debt settlement can help people to stop creditor harassment or home foreclosure. Another option is filing Chapter 7 or 13 bankruptcy. Many people view filing for bankruptcy as failure, which could not be further from the truth. Bankruptcy is a tool that people can use to recover financially and provide their families with a secure future.
The Texas bankruptcy lawyers at Julian, Crowder and Shuster help clients escape debt and build a better financial future.