SAN MATEO, Calif., Nov. 16, 2017 /PRNewswire/ -- Thanksgiving is around the corner, and with it, temptations for holiday shoppers: Black Friday and its sibling, Cyber Monday. As the holidays approach, Andrew Housser, co-founder and CEO of Freedom Debt Relief (FDR), suggests six ways consumers can rein in spending and avoid digging deeper into debt for the holidays.
"With Black Friday promotions already flooding email inboxes, the temptation to spend can be great. Uncontrolled holiday shopping can create debt problems that last for months or even years," Housser says. "Now is the time to get a plan in place to make the holidays about fun and family instead of debt."
Freedom Debt Relief is among the nation's most experienced and most trusted debt relief providers, which makes Housser uniquely qualified to recommend the following tactics to reduce holiday spending and avoid going into debt.
- Make a list. Start with a detailed list of gift recipients and intended gifts for each. Decide on a budget ahead of time and modify the list as needed to fit that budget. Remember to include tips, gifts for teachers and coaches, and travel and entertainment costs.
- Slash spending by buying only for others. The National Retail Federation reports that people anticipate spending more than $140 on items for themselves and their family – beyond gifts – this holiday season. Being disciplined and avoiding those purchases would cut the average person's spending by nearly 15 percent.
- Avoid exorbitant shipping costs. Buying gifts is one thing. Getting them there is another. Plan to ship early to take advantage of lower-cost shipping. Avoid delivery fees altogether by looking for retailers that provide free shipping by shopping on Free Shipping Day, Dec. 15. Another way to avoid shipping costs is to make a donation in your recipients' names to a favorite charity.
- Give the gift of time. Today, many people enjoy the experience economy. Even if you can't afford pricey tickets to the theater or a sporting event, give the gift of time and caring. Offer coupons for a dozen cookies several times a year, making a favorite dinner, free babysitting, dog washing or gardening help.
- Close your eyes to ads. "It's OK to scour promotions for items that specifically fit your gift list, but do not get caught up in just browsing for something to buy," Housser says. Avoid temptation by recycling catalogs and mailers unread, and unsubscribe from "deal" newsletters.
- Say no to store credit cards. In-store discounts can be tempting, but the cost of interest could outweigh the savings. Store cards can have high interest rates – up to 30 percent annually. In addition, applying for any credit card triggers a credit inquiry that can affect a person's credit score.
"The holidays are fun, and what makes them even better is knowing that you will still feel good in January after your bills have arrived," says Housser. "If you are struggling already with expenses and debt, a holiday-spending reality check can help you exert the discipline to prevent more money problems in the coming months."
Freedom Debt Relief
Co-founded by Andrew Housser and Brad Stroh, Freedom Debt Relief is a subsidiary of Freedom Financial Network, LLC, a family of companies providing innovative solutions that empower people to live healthier financial lives. For people struggling with debt, Freedom Debt Relief offers a custom program to significantly reduce and resolve what they owe more quickly than they could on their own. For more information about the company and its services, see www.freedomdebtrelief.com/what-we-do.
Headquartered in San Mateo, California, Freedom Debt Relief also operates an office in Tempe, Arizona, and employs roughly 2,000 people. The company has been voted one of the best places to work in both the San Francisco Bay area and the Phoenix area for several years.
Contact: Aimee Bennett, Fagan Business Communications, 303-843-9840, firstname.lastname@example.org
SOURCE Freedom Debt Relief