Give Yourself the Gift of Savings this Holiday Season
With the cutting of the turkey comes Black Friday ads, crowded shopping centers and the never-ending holiday to-do list. However, if you’re not careful, “the most wonderful time of year” can become the most expensive time of year due to overspending on gifts for family and friends. According to ABC News, the average American will spend $700 on Christmas gifts alone this December. While not everyone has this type of budget to spend, an Annual Holiday Debt Survey conducted by Magnify Money over the past two years found that the average holiday debt in 2015 was $986, while in 2016 it grew to $1,003.
There really is no better feeling than to see beautiful gifts under the Christmas tree, watching your loved ones opening their holiday presents or celebrating the season in Buddy the Elf fashion, but the credit card bills that follow can quickly bring you back to reality. While “some Friends are worth Melting for,” both Olaf and your friends would agree that none are worth damaging your credit score.