Revising Your Budget To Prevent Holiday Debt 

Around a third of Americans go into holiday debt. That includes credit cards, pay-later programs, and even personal loans. That's no way to start the new year. You can avoid Christmas debt by taking a serious look at your holiday budget and revising it as the month moves forward.

That may mean making some cuts or shifting money around but taking a strong aggressive approach will prevent you from ending the holidays in debt. There are four things you can do to revise your holiday budget and prevent debt. We'll discuss how you can commit to pay with cash, lower your expectations, get free budgeting apps, writing down your expenses, and how receiving a title loan could help you out. 

4 Ways To Prevent Holiday Debt

1. Commit To Pay With Cash

One sure way to avoid holiday debt is to go with a cash-only plan. That means no credit cards and no debit cards. It's easy to overspend when you use plastic. A good method is to take the cash out you plan to spend on each category and put it in separate labeled envelopes like "gifts" or "party food." Once the money is gone, you are done with spending for that category. 

2. Lower Your Expectations

Everyone wants to create the perfect holiday and will spend a lot of money to try to achieve that. However, money doesn't make the perfect holiday. You may need to lower your gifting amounts and reduce some of your entertainment or food expenses to stay within your budget. 

3. Get A Free Budgeting App

A ton of free holiday budgeting apps are available and you can download any of them to help you revise your budget. The great thing about these apps is that some come with a list of possible holiday expenses you may not have thought. Some also offer creative alternatives to spending within your budget. 

4. Write Down Expenses

A key component to revising your budget is to catalog all your holiday expenses so you don't come up short. This may seem a bit cumbersome but it alerts you to a budget shortfall before it becomes a problem. 

Some people will then use their holiday money to pay for an unexpected expense and use credit cards or other pay-later programs for Christmas expenses. That's confusing and makes the problem worse.

Those who have no credit cards and don't qualify for pay-later programs will find their Christmas ruined for them and their families, but it doesn't have to be that way. There are ways to fund unexpected expenses.

Getting Extra Money Through The Holidays

The holidays can come with extra expenses that you couldn't anticipate. That's especially true when travel, relatives, and friends are involved. Your car could break down going to Grandma's house or a friend staying over could result in an unexpected home repair. Those are the types of things that will require extra money fast. 

Traditional Funding

Getting a traditional personal loan during the holidays from a bank or credit union is nearly impossible, especially in this economy. Regulations are stricter with most financial institutions requiring a decent credit score to be considered. 

Alternative Financing

On the other hand, alternative financing has options but finding a reputable lender on short notice during the holidays may be stressful. That's when Title and Payday Loans become a handy resource. We have private lenders serving people across the country and we can connect you with one in your area. 

All of the lenders in our network are licensed in your state and have an outstanding reputation. And the title and payday loans that are offered are highly competitive. Title loans have a maximum limit of up to $15,000 and payday loans in some cases up to $1,200 in maximum borrowing amounts. 

The private lenders on TitleAndPaydayLoans.com offer a simple loan process and fast decisions where you can get your money either the same day or the following business day. Those with bad credit or no credit are also welcome to seek these alternatives. 

Both types of loans will require a driver's license or another form of state identification. Some lenders require proof of income or a checking account for certain loans. If you are seeking a title loan, you will need a clean vehicle title and the vehicle available for an inspection to qualify. 

Finding A Lender

The easiest way to get started is to fill out the online inquiry form. A lender from your area will then call you to discuss your needs and guide you on to the next step. That step usually requires a trip to your local store to provide the requirements, complete the paperwork, and undergo a quick vehicle inspection, if you are seeking a title loan. The in-store process is quick and can take as little as 30 minutes. 

Submit Information

Fill out the form to see what a lender near you can offer. Title and Payday Loans has many vendors who can serve your alternative lending needs. That way you can keep to your Christmas budget and avoid creating holiday debt. Yet, you can still have a nice holiday without the stress of struggling to pay for something unexpected. Submit the form now!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.