The 2021 holiday spending season may be more populated due to covid numbers dropping and people starting to feel more comfortable with being in public places. Along with the usual shopping for gifts for your loved ones, more money may be spent as you decide to grab lunch or dinner after shopping, which can cause added stress to your credit cards.
A press release states, “World Finance, a people-focused finance company that offers services like personal loans and tax preparation at more than 40 local branches across the Dallas-Fort Worth region, is sharing some tips to get the most out of the holiday season without tanking your credit.”
Steps for a stress-free spending season
- Start Early: Think about the cost of gifts, wrapping paper, gift bags, decorations, travel expenses, and anything else you would purchase for the holidays. Combine those costs to create a budget to implement today. By doing this in advance, “you can start saving before you spend.”
- Back to the Basics: Simple changes to daily routines can allow for extra spending money to use for your decided budget. World Finance suggests changes like making coffee at home, packing your lunches, and pre-prepping meals.
- Stick to a Plan: It is very easy to overspend if you use credit cards. “A cash envelope system for holiday expenses is a helpful physical reminder and limitation,” says World Finance. Remember your budget while using credit cards by adding up each holiday purchase as you go.
- Reduce, Reuse, Recycle: Use what you have in the home when wrapping gifts. Start saving gently used gift bags, paper, and ribbon. Thoughtful gifts can also be a gift that you create on your own.
- Shop Around: Remember that an item may be a higher price in one store than another. Check all options, whether it is online or in a physical store. Find the best deal with the price. Honey, Rakuten, and Capital One Shopping are browser extensions that will track prices for you if you are shopping online.
The press release mentions that “holiday retail sales are slated to increase 7% this year.” According to Deloitte’s annual holiday retail forecast, compared to the holiday season in 2020, e-commerce holiday sales are expected to rise 11% to 15%.
Business Wire stated, “Individual spending could hit record levels this holiday season as consumers report significant growth in their holiday spending plans,” according to the Roku and Harris Poll 2021 Holiday Survey.
One in three people, according to this survey of 2,000 adults, plan to increase their holiday spending. They mention that “consumers expect to spend a record $937 on holiday purchases.”
For Black Friday and Cyber Monday, 43% of people who were surveyed are planning to shop in the stores. This year, 57% of people stated that they would do most of their shopping exclusively online.
Regional Vice President of World Finance, David Minick, said, “The holidays should be a time of celebrating family and friends, but too often the season is overshadowed by financial stress. With advance preparation and setting realistic budget goals, the holiday season can be a cheerful time.”
World Acceptance Corporation (NASDAQ: WRLD) was established in 1962, and its headquarters is located in Greenville, South Carolina. Annually, they gain over one million customers and guide them to “achieve mainstream credit each year” while also “turning their financial possibility into reality through services like personal loans and tax preparation,” explains the press release.
They are located in sixteen states and have over 1,200 branches within communities. World Finance values its relationships with customers and provides quality customer service. Their website states, “With us, you get the strength of a national financial institution and the personal services of local neighborhood branches.”
In 2020, World Finance was honored with an award given by Greenville Business Magazine, Columbia Business Monthly, Charleston Business Magazine, and Energage. They were listed as one of South Carolina’s Top Workplaces and were placed within the top five.
The press release shares that “World sets itself apart as the financial partner with heart, offering an ever-expanding menu of customer-focused services and a commitment to teamwork, community, and care.”
A testimonial on their website states, “We just wanted to write and say that you guys have been really easy and nice to work with. And say thank you to your staff for dealing with us and working with us when money was tight at times.”
Another review mentions, “World Finance has a very nice staff, and they are very educational, they went above and beyond to help assist me in rebuilding my credit! The manager was so friendly and showed she cared for her clients, thank you so much, World Finance.”
World Finance can help guide you with credit-building loans and products, budgeting and personal finance tips, and more. For information, visit www.loansbyworld.com.
For more information on additional budgeting tips, loans, and credit information, visit www.loansbyworld.com/blog.