During the holidays, we often feel the pressure of gift-giving. Not just any gift, but the perfect, in demand and, in all likelihood, expensive gift. It is a holiday so wrapped up in consumerism that much of its joy is replaced with the stress of spending more than one should.
This is exactly what creditors hope for. It is, of course, in their best interests that you spend beyond your means. After all, they are not concerned with whether you should or can spend, but increasing their profit by gradually taking your money through high interest rates and late fees. You could end up spending a great deal more than you originally intended, paying it out over the course of a lengthy period of time, for an item that may either become outdated or not worth the exorbitant price you end up shelling out for it.
Another aspect one should consider when making a holiday purchase is if the item will continue to be relevant or used in a month, or if it is just a flash-in-the-pan gift that will quickly lose its glow once the holidays are over. If you are not sure, chances are, it is not worth getting in over your head financially. In fact, it is a good question to ask yourself no matter what time of year it is.
As cliché as it may sound, sometimes the best thing you can give, particularly to those close to you, is your time, which is something you will have less of if you end up working longer hours to compensate for the excessive spending you may do during the holidays. This year, send the creditors a message that they cannot always win.
Atlas Consumer Law provides debt solution services. Our team is skilled in handling bankruptcy, foreclosure, creditor harassment, and consumer law. You do not have to struggle with debt or fall victim to creditors. We can help. Call us at 312-313-1613.