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Make your holiday gifting plan now to avoid credit cards

Even though Labor Day just passed, now is the time to start thinking about Christmas. One thing that many people don't realize is that they could save themselves a lot of trouble if they would plan in advance since this might give them a chance to avoid having to pull out the plastic to pay for the holiday goods.

There are some very big benefits to paying for the gifts without using credit cards. One of these is that you won't have to stress about how you will pay the bills when the season is over. This is a huge concern because you don't want the presents under the tree to lead to you to financial ruin.

If you are paying with cash or a debit card, you won't have to worry about interest charges. This is a huge bonus, especially since some credit cards have interest rates as high as 20 percent or even higher. There is no sense in you having to spend that much more just to have gifts.

Another benefit to this is that you won't have to worry about your account being compromised. Of course, if you are concerned about this, you should leave the debit card at home and just pay with cash.

Some people find that there isn't enough cash to pay for Christmas gifts. If you find yourself in this position and do have to charge gifts, you may end up regretting that come the first of the year. If this occurs, you should review your options for handling the credit card debt.

Source: Dave Ramsey, "5 Things You Don’t Have to Worry About With a Credit-Free Christmas," accessed Sep. 06, 2017

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Joshua Z. Goldblum, Attorney at Law
Stonewood Office Campus
826 Bustleton Pike Suite 101B
Feasterville, PA 19053

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