How to Pay for Christmas This Year
Welcome to our Hoyes Michalos Debt Free Digest where we round up personal finance topics from around the web to help you live, and remain, debt free.
There are so many ways to pay when you shop these days. But some payment methods are risky if you’re not careful. This month we’re showing you how to pay for Christmas without getting into debt and losing your money on fees.
Be Careful Using Buy Now, Pay Later Apps to Shop
Buy now, pay later (BNPL) apps to let you break down the cost of items into smaller installments, which makes spending more affordable. But what you’re really doing is taking on a new form of debt.
Jennifer Kwon and Doug Hoyes discuss how BNPL apps work, their risks, and how to be careful if you want to use them for your holiday shopping.
Good Reads From Around the Web
Watch Out for Prepaid Credit Card Fees
If you don’t qualify for a regular or secured credit card yet, you may be thinking about using a prepaid credit card to shop online. While prepaid cards can be a good alternative, you should know that they can come with monthly fees, which will eat away at your card balance.
Does this mean don’t use them? No. But it’s important to understand how they work so you don’t get burned. Learn more from Diane Cunha and Doug Hoyes in this podcast.
Create a Realistic Christmas Savings Plan
We believe the best way to avoid holiday debt is to pay for Christmas with your own saved up money.
If you haven’t already started a holiday spending fund, now is a great time to do so with the help of these realistic savings tips from Nicole Dow of The Penny Hoarder. She’ll show you how to spend less on gifts too.
Spend Christmas Without Spending
Some of our readers have asked if it’s possible to spend Christmas without spending any money at all.
The good news is, yes it’s totally possible to still have a memorable holiday season for free. Check out this post by The Curious Frugal for free (or practically free) Christmas ideas.
$50 President’s Choice Gift Card Giveaway
Enter for your chance to WIN 1 of 10 free $50 President’s Choice gift cards!
We want to help make your holiday grocery shopping a little more affordable by giving you the chance to win a free $50 gift card from President’s Choice in this month’s giveaway.
Enter soon. Giveaway ends November 25, 2021 at 11:59 p.m.
Do you like our Debt Free Digest? Sign up to receive it directly to your inbox each month.
Please enter valid email.
You cannot continue without providing consent. Please put a checkmark in the checkbox above.
Get A Personalized Debt Free Plan
"*" indicates required fields
SignUp For Our Newsletter
Please enter valid email.
Sign up for our newsletter to get the latest articles, financial tips, giveaways and advice delivered right to your inbox. Privacy Policy