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Holiday Spending Tips and Strategies
Holiday spending is expected to hit record highs, but there are strategies to avoid overspending and manage debt.
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United States
Us PoliticsBudgetDebtHolidaySpendingCredit Cards
National Retail FederationDeloitteNerdwalletCnbc
Sara RathnerCandy Valentino
- What are some tips for saving money on holiday purchases?
- To save money, start shopping early for deals, pool funds with friends and family, and avoid tempting marketing by unsubscribing from emails, texts, and app notifications. Using credit cards with rewards can help, but only if you can pay the balance in full.
- How can credit cards be used strategically during the holidays?
- Credit cards offering rewards like cashback or sign-on bonuses can provide better returns on holiday spending, but only if you can pay off the balance to avoid accumulating debt.
- What are some strategies to avoid overspending during the holidays?
- To avoid overspending, set a strict budget, track expenses, and reallocate funds from unnecessary areas like subscriptions or utility costs. Starting holiday shopping early and taking advantage of sales are also effective strategies.
- What advice is given for those who have existing holiday debt from the previous year?
- If you have debt from last year, prioritize paying it off before engaging in further holiday spending to avoid accumulating more debt. Creating a budget and sticking to it is crucial.
- What is the projected range for total holiday spending between November 1st and December 31st?
- Holiday spending is expected to reach record highs between \$979.5 billion and \$989 billion from November 1st to December 31st, with an average shopper spending \$1,778.