Wayne’s Words of Wisdom

I hope you all had a great Thanksgiving and enjoyed time with the family, good food, and watching some football games.

As we head into this holiday season, make it a priority to stay out of debt to avoid financial struggles that can put you at risk for a debt hangover that could last for years, plus give you unneeded anxiety and stress that you do not need. 

The average rate for credit cards assessed interest as of August 2023 was 22.77%, according to data by the Federal Reserve.  Set some goals and guidelines as you shop this holiday season.

Here are some tips that can help:

1. Make a list of those you need to shop for set a budget of the amount you have available to spend and stick to that budget.
2. Search out and compare deals and shop sales. Remember many stores will do price adjustments for purchases that you may have previously made that are on sale later.
3. Choose the option of having receipts emailed to you at the time of purchase, that way you can save them in case you need to make a return or exchange.
4. Switch your payment method to cash or debit card, that way you are spending what you can afford and budgeted for. Some people use the cash envelope system to stay on track as it is more of a visual approach to shopping and prevents overspending. 

If you are experiencing financial difficulties or need advice, reach out. We are here to help with those financial struggles.

• By caseywealth
• December 4, 2023