by Chelsea Springli 
You’ve made your gift list and you’re checking it twice. But now you are starting to panic just thinking about how you’re going to pay for all these presents! What’s the best way to get through this expensive holiday shopping season?
Relax! You can keep your budget and your sanity, too! And you can do it without having to dip into your savings or rack up high-interest credit card debt that you’ll be paying off well into the next year. Check out our naughty and nice list to help keep you on track with your holiday spending this year.
Low interest credit cards.
It’s never a good idea to rack up debt. However, if you can get your hands on a credit card that offers a low interest rate, you can borrow the money to fund those purchases.
- Nice: This can be a perfect solution for you if you have an excellent credit score and concrete plans to promptly pay it off.
- Naughty: Don’t go this route if you have a poor track record of paying down your credit card bills. You might end up carrying that balance well into the New Year. You’ll continue to rack up interest charges that will make the total cost of your holiday expenses even higher.
Personal loans.
Anytime you need money, you can contact Alltru Credit Union to apply for a personal loan. Our experts are always happy to help, and you get the money you need to fund your purchases.
- Nice: Like all our lending products, our personal loans have low interest rates, which makes the payback plan affordable for almost any budget.
- Naughty: If you’re already carrying a load of debt, don’t take on more just to get you through the holidays. Consider lower cost gift ideas and focus on paying off debt.
Holiday Savings Account.
Don’t wait until December to start thinking about your holiday spending. Pay a little bit toward this expensive season all year long by opening a Holiday Savings Account. This way, when November rolls around, you’ll actually look forward to buying all those gifts instead of fearing it. Put the cheer back in your holiday season!
- Nice: Holiday Savings accounts offer you a way to pay for your holiday spending ahead of the season, instead of playing catch-up on your bills in the coming months. It’s the perfect way to take the stress out of the holidays!
- Naughty: If you want to open a Holiday Savings account to help you make it through this season, you’re a little late. But, it’s never too early to start thinking about next year!
Deferred-interest financing.
If you’re buying several large purchases at big name stores, consider signing up for the retailers’ deferred-interest financing. Many chain stores offer customers this interest-free financing option so they can walk out with their purchase today and pay for it tomorrow.
- Nice: Deferred-interest financing works just like an interest-free line of credit, only it’s exclusive to the store selling the item. If you don’t like the idea of opening another credit card but you need that interest-free option, this can be the perfect solution for you.
- Naughty: If you neglect to pay off your bill before the interest-free period expires, you’ll be slapped with sky-high interest fees. Worse yet, you’ll have to pay interest retroactively for the entire interest-free period.
If you’re still struggling to get through the holiday season, we can help! Contact Alltru Credit Union today. Remember, the holidays are a time for joy and cheer. Spending time with loved ones is more important than extending your budget more than you can afford.
Happy Holidays!
Chelsea Springli
