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{"id":1679,"date":"2021-12-08T06:03:47","date_gmt":"2021-12-08T06:03:47","guid":{"rendered":"http:\/\/financialpsychologycenter.com\/?p=1679"},"modified":"2021-12-08T06:22:36","modified_gmt":"2021-12-08T06:22:36","slug":"avoid-borrowing-blunders-this-holiday-season","status":"publish","type":"post","link":"https:\/\/financialpsychologycenter.com\/avoid-borrowing-blunders-this-holiday-season\/","title":{"rendered":"Avoid Borrowing Blunders This Holiday Season"},"content":{"rendered":"
Learn to spread cheer without maxing out your credit.<\/h5>\n

Christmas came early this year.<\/p>\n

Ready or not, the holiday shopping season is here \u2014 and has been for a while.<\/p>\n

Retailers could be found rolling out Black Friday deals long before Thanksgiving week, and according to a report by McKinsey & Co.,<\/a> 45% of surveyed U.S. shoppers had begun their holiday shopping by early October.<\/p>\n

To some, an earlier Black Friday may have seemed like an invitation to spend more money or accrue more debt; however, shoppers may have also used the early access to holiday cheer as a means to maintain control over their bank account and shop more mindfully this holiday season.<\/p>\n

Putting money away \u2014 and also planning out holiday expenses in advance \u2014 are effective tactics to help mitigate overspending, according to Paul Golden, spokesperson for the National Endowment for Financial Education.<\/p>\n

\u201cThe holiday spending season shouldn\u2019t come as a budgeting surprise,\u201d Golden says. However, he adds, all the bells and whistles that come along with the holidays, from gifts to wrapping paper, decorations, holiday parties, and more, can lead to the \u201cpotential for overspending and strain on your budget.\u201d<\/p>\n

Fortunately, implementing tactics like shopping lists and spending limits can help to manage cash flow and prevent overwhelming holiday debt. With that in mind, let\u2019s take a look at how:<\/p>\n