Halloween is a special time when we get to show kindness and have fun with each other. But, it’s also a time when we can go wild with our spending and decrease our credit scores! Do you want to shop and enjoy everything that Halloween season has to offer, yet manage your credit? You can do that if you follow the tips below:
Set a Budget
You should set and stick to a budget before going shopping. Plan carefully so you don’t spend much money during the Halloween season. Make a list of the items you wish to buy and prioritize them. Don’t buy something you can’t afford.
Think about your future expenses (such as taxes and insurance payments) in the next few months, including your Halloween parties and outfits for your family. You can manage your credit score during Halloween by controlling your expenses.
Live Below Your Means
Living below your means, i.e., paying for everything with cash and not applying for loans/using credit cards, is essential to stay away from debts. You will also have to forget about buying certain unnecessary/inconvenient items when you don’t have enough money.
Consider how much money you need monthly to pay bills, such as rent/mortgage and car payments. Then, ensure you have enough left over after all such expenses, so you don’t fall short of money during the Christmas shopping season or other festivities in October through to December.
Pay Bills On Time
Paying bills on time will help you manage expenses efficiently during the Halloween season. Pay bills at the right time by setting up automatic payments or ask for bill reminders from the companies that offer you services, this will help keep you on track.
If you can’t pay off the total balance at once, it may be worth negotiating with them about making monthly payments to prevent them from taking legal action against you. As legal actions against you add more damaging information to your credit report, you should always try to avoid them.
Pay Down Credit Card Debt While Paying Basic Expenses
Try to pay off your cards in full every month by adding an extra payment to each one. Ensure those payments are going toward the balance with the highest interest rate. If you can’t afford the total amount, go for the debt snowball method. Commit all your additional cash flows toward your least debt until it’s fully paid off. Then, apply those funds toward the next largest debt amount and repeat the process until you clear all your debts.
Remember, filing taxes is approaching, which can mean a big tax refund. Use tax filing as an opportunity to eliminate some additional debt so that when Halloween rolls around every year, you’re ready to spend on your favorite things.
We all have made poor financial decisions sometimes in our lives. But the Halloween and Holiday seasons are more stressful than most as we tend to think about buying things, such as candy and costumes for our kids. Just make sure you avoid succumbing to temptation by keeping your finances in check and planning before Halloween arrives, following the tips above.
At Okinus Credit Solutions, we offer purchasing options to help you buy the desired things immediately with less and even zero credit scores. With our solutions, you can buy whatever you need. To learn more, get in touch with us today.