Six Ways to Avoid Going into Too Much Debt during the Holidays

The holiday season is a time of excess—too much food, too much celebration… and for some people, too much spending. Avoid being too deeply in debt in January by following a few helpful credit card tips now!

• Avoid signing up for new store cards. The sales clerk may tempt you with: “if you sign up for our credit card, I can give you a 20% discount on your purchases today.” Don't do it. You may wind up buying more than you had planned to, and those credit inquiries can hurt your credit score.
• Don't bring all your credit cards with you. The risk of credit card theft and loss is higher during the holidays.
• Keep your credit card balances well below your credit limit. You run the risk of going over your credit limit once finance charges are added. The higher your credit card balance, the lower your credit score. 
• Make a shopping list and a spending budget. And stick to it. It's easy to be sidetracked during holiday shopping, and forget that Old Man Winter may bring higher heating bills, or a snowstorm that prevents you from getting a full paycheck. 
• Remember-- If you don't have the cash to shop now, you probably can't afford to make purchases on credit. Consider handmade gifts, thrift store shopping, or re-gifting. 
• Pay your balances in full in January. You'll save money on interest charges if you pay the full balance when you get your first bill.

A little planning can help you keep that debt under control. Happy holidays!