Valley First

Avoiding Holiday Season Debt

Top five tips for avoiding debt this holiday season

It happens every year. The holiday shopping season hits and people feel pressured to buy, often leading them to spend beyond their means. With personal debt loads hitting record highs, Valley First offers five tips to help consumers avoid overspending this holiday season.

Tip 1: Set a realistic budget

Many people do their shopping without a budget in mind. Start by making a list of all those you want to buy for and how much you are able to spend and go from there. It sounds simple, but by setting a realistic budget and sticking to it, you can avoid spending beyond your means.

Tip 2: Leave the cards at home

If you struggle with sticking to a budget, leave your credit and debit cards at home and only take cash with you, forcing you to spend only what you have in your wallet.

Tip 3: Don't start shopping too early…or too late

Starting your Christmas shopping early can help you spread out the cost of your purchases, but it can also turn you into a repeat spender. If you've purchased a gift for someone, stop. On the other hand, if you leave your shopping until the last minute, you may purchase a gift that's outside your budget because you have limited time to search for a more budget-conscious gift.

Tip 4: Don't be fooled by so-called bargains

We've all heard the phase, “It was such a good deal, I couldn't afford not to buy it.” A deal it only a deal if it's something that is actually needed. Spending is still spending, regardless of whether it is five, 55 or 95 per cent off.

Tip 5: Give a gift card

While some people think gift cards are impersonal, they can help keep you to a fixed-dollar purchase-especially if you're short on time. Plus, you can be sure that the person receiving the gift will be able to get something they actually want.


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Whether you’re looking for more information, or you’d like to let us know how we can serve you, you’ll find our contact information here.
We encourage you to visit a representative at any of our branches for more information on how Valley First can make things simple!

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