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Welcome to the Credit.com newsletter!
This free newsletter delivers easy-to-read tidbits about credit
directly from personal finance experts. In this issue, we're sharing our best holiday financial hints and tips.
We'd love
to hear from you! Send us an email with your credit questions or comments
anytime! |
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Quick Tip
Thinking about getting out of debt for your 2008 resolution? If so, you may want to request a free debt consultation now to beat the rush!
Get a confidential debt consultation
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 Happy Holiday Hints
It's hard to believe that the holiday season is already here! Friends, family, presents, decorating, entertaining; this is the most wonderful (and expensive!) time of year. Credit.com has a few simple tips for making your yuletide bright without going broke:
1. Consider Cutting Back
Economists predict that consumers are going to be more cautious about holiday spending in light of the recent credit and mortgage industry problems. Join the pack by having a simple relaxing holiday season at home this year.
2. Be Below Average
According to the National Retail Federation, people plan to spend an average of $816 on holiday-related shopping this year. Most of that amount goes toward gifts. You can save by quickly coming up with a spending plan for your gift list. Can you get everyone something great without breaking above the average? Read 10 tips for holiday spending.
3. Avoid In-Store Credit Offers
Saving 15% on your purchase may sound like a good deal, but it can lead to serious credit damage. Your score can drop each time you apply for new account. Even if you close the new account right away, the record will remain on your credit report for 7 or more years. Read a retail credit card horror story.
4. Use Credit for Purchases
Identity thieves love the holidays. Protect yourself when shopping online or in person by using credit cards with good fraud recovery policies. Match receipts to your statements and track your spending against your gift spending plan. Also, consider using a rewards card so you can receive benefits from all those dollars you spend. Read more tips for avoiding identity theft grinches.
5. Start 2008 Debt-Free
The New Year is no time to be burdened down with holiday debts. Don't spend more in December than you can afford to pay back in January! If you're carrying high balances, make getting out of debt your New Year's resolution. Here's an article that shows you how!
Happy Holidays from Credit.com!
We'd love to hear your holiday credit and budgeting ideas. Send your comments or questions to tidbits@credit.com anytime.
Quote of the Month
"Winter is not a season, it's an occupation."
- Sinclair Lewis |
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