Loan Advice

Christmas Loan 2019

by Jim Hughes   November 26, 2019

You can get great gifts this holiday season without spending a lot. However, you may need to hurry. Thanks to doorbusters, there are many presents that won't break the bank. A Christmas loan can help you shop these sales before prices go up.  We'll help you get cash in hand so you can get all the gifts on your list.

Get ready for the holidays with a Christmas Loan in 2018

According to a recent Gallup poll, U.S. shoppers plan to spend an average of $942 on Christmas presents this year. That’s up 6 percent from last year. This is good news for retailers, but for many families on a paycheck-to-paycheck budget, it means either stretching the pocketbook or taking out a loan to get the money needed to pay for the most expensive holiday of the year. If you find yourself on the wrong side of your paycheck, we can help you get started with payday loans online as you look for a Christmas loan in 2019.  

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Why a Christmas Loan Can Be Dangerous to your Finances

It’s hard enough to fight debt when you’re only buying necessities for yourself, but when Christmas rolls around, you’re compelled to spend money on friends and family. If you aren’t careful, you can quickly take on an overwhelming amount of debt. Resist the temptation to spend more than you should. We recommend that you shop within your means. We understand how hard this can be at Christmastime, especially when you have kids. Just try your best.  

Remember How Christmas Cash Works

Some people use short-term funds like it's free money. It’s not. It’s your next paycheck, early. The money, combined with whatever savings you have, will need to last you all the way until your next paycheck. That could be nearly a month away.  

Even Christmas installment loans need to be spent wisely. It's smart to pay these high-interest loans off as soon as possible. That way you may end up paying less for them.

Money for Christmas Presents

Almost every finance blog on the Internet is going to have an article about how to pay for holiday gifts. Take their advice with a grain of salt, as it is likely influenced by outside sources.

Blogs recommending gifts are often sponsored by retailers. Certain stores pay bloggers more than others, which is why these articles will often tell you to purchase gifts from a particular site.

That’s why we recommend shopping around and finding the best deal. Don’t trust any store to have the lowest prices on everything. You’ll save more if you shop around.

Holiday Fun for Less

You can get great gifts this Christmas without spending a lot. Whether you plan to get a Christmas payday advance loan or not, these presents won't break the bank:

  • Consider buying used items for your kids’ gifts. Remember, Santa rarely delivers gifts in their original packaging. They’re usually set up in front of the Christmas tree. So it doesn’t matter if they're already open.
  • Avoid holiday sales and head to the clearance section, which has items that are actually on discount.
  • Never pay for shipping. Most stores offer coupon codes or deals on free shipping if you spend a certain amount. So you should never actually pay extra for shipping.
  • When possible, make a gift instead of buying one: A craft made with love is better than any gift you can buy.
  • Nip it in the bud and make sure your kids don’t expect too many presents. Tell them to keep their list for Santa down to a couple of items each.

Shopping without a calculator is dangerous. Figure out how much you’ll be able to spend on Christmas this year, and then keep an eye on the total amount spent so far.  

How to Balance Your Finances in the New Year

If you relied too much on credit this year, now’s the perfect time to plan out a new budget. It can be your New Year’s resolution. Here’s a list of five tricks that can help you get your bank account back on track:

  • Consolidate your debt into one account with the lowest possible interest rate. If you can qualify for one, consider applying for a Balance Transfer credit card, which may offer zero-percent APR for up to 18-months.
  • Repair it instead of replacing it. Make it the year you get by with what you have. If one of your major appliances breaks down, see how much it’ll cost to get it repaired instead of replaced.
  • Reward yourself with moments instead of items. After a long day of work, you may want to treat yourself to a nice meal. Treat yourself to a warm bath or a book you already own instead. Rewarding yourself with items you already have will save you money.
  • Get the family involved. Let the kids know that the entire family will be happier when you’re no longer in debt. Ask them for help in deciding how to cut costs. If you make them part of the planning process, then they’ll be more excited about spending less.
  • Sell instead of storing. If you’re paying for a storage locker, it might be time to sell those items instead of storing them. You’ll save on storage fees. The money you make from selling the items can go toward paying off your debt.

Take it one step at a time. You won’t revamp your budget overnight. But bit by bit you will be able to fix your finances.

Even if you end up needing a Christmas installment loan this year, you may be able to pay it in early 2020. We hope you have a great holiday. Please shop smart and be safe. Happy holidays from OpenCashAdvance.

Jim Hughes   OpenCashAdvance Marketing Manager
Personal Finance
Jim Hughes remembers checking his first email on the original BlackBerry 850 nearly 20 years ago. It was spam, and he fell for it. Even so, he’s been on the beat every day since, following the ebbs and flows of financial technology. Look to Jim for insider exclusives on shorter-duration loans, installment loans, and other popular products in fintech today.