With 100 days before Christmas, it’s time to start planning!
September 16th marks the official start of the winter holiday shopping season. It may seem too early to start thinking about gift lists and holiday plans, but starting a holiday spending plan now is the best way to avoid credit card debt this year. It’s particularly important this year.
“The winter holidays are the most expensive time of year for most families,” explains April Lewis-Parks, Education Director for Consolidated Credit. “Along with all the joy and good cheer, the holidays also bring a higher risk for taking on credit card debt. It’s crucial to budget and plan, if you don’t want to start 2021 with a mountain of new debt to pay off. And we’re here to help you find smart ways to reduce costs and save. Even better, we’re giving three people a chance to win $100 to give a much-needed cash boost to their holiday budget.”
Finding a new way to save each day
For the next 100 days, Consolidated Credit will feature a new money-saving tip on our favorite social networks:
“The 100 days, 100 ways tips are designed to help people learn practical ways to keep holiday costs low,” Lewis-Parks says. “There are things you can be doing in September, October, November – all the way to the winter holidays – that will help you stay on budget, so you can avoid debt.”
Tips don’t just focus on gift-giving. There are ways to save on holiday travel, meal planning, decorating, and even shipping on holiday cards. We’ve also asked personal finance bloggers and finance experts to offer their personal tips, to help give people all the money-saving ideas they need to avoid debt this year. Following all 100 tips will teach you how to set a reasonable budget for holiday spending and stick to it.
How to win $100 while finding 100 ways to save
In an effort to encourage people to follow these tips, Consolidated Credit is giving people three chances to win a $100 gift card. To enter, simply follow Consolidated Credit on your favorite social platform. Then retweet, like, share, pin, and repost each daily tip. For each action you take each day, you’ll get one entry into the contest. There’s no limit to how many entries you can earn!
Then there will be three drawings between now and December. Each round, Consolidated Credit will tally up the entries and draw one winner. That individual will receive a $100 gift card that we’ll email to you following the winning announcement on our social networks.
- 1st drawing: Wednesday, October 16, 2020, at 12:00 PM (EST)
- 2nd drawing: Monday, November 20, 2020, at 12:00 PM (EST)
- 3rd drawing: Thursday, December 29, 2020, at 12:00 PM (EST)
How the 2020 holiday shopping season is shaping up
After an unprecedented year of stay-at-home orders and financial crisis caused by the pandemic, experts say they expect holiday spending to be up this year. It makes sense after a summer of limited vacation travel as well as limits on traditional Halloween celebrations, families are keen to make the winter holidays as merry and bright as possible.
In fact, the delivery giant Amazon moved Prime Day, which historically has happened in July to October in an effort to help Americans save for the holidays. Experts say online shopping and shipping will boom towards the end of the year because while families are expected to spend more, holiday travel is expected to be limited this year. Consumers will need to adjust their traditional holiday spending plans to account for these types of changes.
Use Consolidated Credit’s holiday spending planner to start saving!
“Early planning is the key to avoiding a holiday debt hangover,” Lewis-Parks continues. “We created an interactive holiday spending planner that makes it easy to set a holiday budget. We encourage people to use this free tool now, then follow the tips in 100 Days, 100 Ways to Save to help avoid overspending.”
This free tool walks you step by step through how to create a holiday budget, based on how much income you have. It will help you set spending targets for gifts, decorations, travel, and meals. Then you can print it out and keep it with you as you shop to stay on budget.