If you’re an avid online shopper, chances are you did most of your holiday shopping from your laptop. You wouldn’t be the only one. Roughly 50% of American consumers followed suit. The online deals, free shipping, and, let’s not forget, the convenience of shopping while in your pyjamas makes it the far better alternative to actually putting on pants and driving to the mall. Those cyber sales are too hard to pass up as we buy for the whole family and — of course — a little gift for ourselves. Many of us click ‘confirm purchase’ without really thinking about the cost — until the New Year when the freewheeling online spending catches up with us.
According to the national survey conducted by Prosper Insights & Analytics, the average American spends $935.58 on seasonal festivities. Whether or not you’re close to this figure, we all know how easy it is to overspend. Black Friday and Cyber Monday deals in the lead up to the holidays only exacerbate our troubles. Before we know it, we can have nothing left over to cover surprise purchases in the event of an unavoidable bill or repair.
For many individuals, the rest of the winter season carries on with no surprise financial obligations, so they’re able to recover from their holiday indiscretions without trouble. But there are still others that run into bill after bill, repair after repair, with no means of their own to pay for them. If you find yourself in a similar situation, it’s time to explore your options for lines of credit loans. These financial products can be a simple and flexible way to cover your financial difficulties in the New Year.
A line of credit is an accessible borrowing option that lets you withdraw money as you need it, instead of locking you in short and unreasonable terms. It can pay for a series of purchases that exceed typical small dollar loan terms. It’s a responsible way to borrow money, as you usually only ever have to pay a minimum payment determined by how much you use and not the entire loan limit. This gives you the option to wait to pay off the principal at a time that’s most convenient for you and your financial capabilities.
It may be a long ways away, but Thanksgiving 2017 is coming sooner than you think, and you’ll eventually have to pay for it. Now that you know what personal lines of credit can do for you, you could get a line around Thanksgiving in preparation for your online holiday shopping, or you could wait until the New Year for those last-minute wintertime expenses. Until then, consider those state licensed direct lenders who offer competitive rates and fees in line with state-wide regulations. They’ll be able to help recover from last year’s holiday spending.