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How Should I Fund My Holiday Shopping?

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Q: Help! I’m fretting over holiday expenses. How am I going to pay for all this stuff?
A: Relax! You can keep your budget and your sanity, too! Take a few minutes to learn how you can spend responsibly this season.


Let’s explore some options:

1) No-interest credit cards
If you can open a credit card with an introductory no-interest period, you can borrow the money to fund those purchases without paying a penny of interest.

Nice: This option can be ideal if you have an excellent credit score and concrete plans to pay back the bill quickly.
Naughty: Don’t go this route if you have a poor track record for paying credit card bills. You might end up carrying that balance well after the grace period ends and then getting hit with really high-interest rates.

2) Personal loans
Anytime you need a pile of dough, you can stop by City CU to apply for a personal loan. Our representatives are always happy to help you!

Nice: Our personal loans have low-interest rates, which make the payback plan affordable for almost any budget. Learn more here.
Naughty: If you’re already carrying a load of debt and unpaid loans, don’t take out another one just to get you through the holidays.

3) Holiday Helper Account
Pay a little bit toward this expensive season all year long by opening a Holiday Helper Account earlier in the year.

Nice: Our Holiday Helper Account offers you a way to pay for your holiday shopping ahead of the season, instead of playing catch-up on your bills in the coming months.
Naughty: It’s too late to open up a Holiday Helper Account to help you make it through this season. But, it’s never too early to start thinking about next year!

4) Deferred-interest financing
If you’re considering several large purchases at big-box stores, consider signing up for the retailers’ deferred-interest financing. Many chain stores offer customers this interest-free financing option so they can walk out with their purchase today, and pay for it tomorrow.

Nice: Deferred-interest financing works just like an interest-free line of credit, only it’s exclusive to the store selling it. If you don’t like the idea of opening another credit card, but you need that interest-free option, this can be the perfect solution for you.
Naughty: If you neglect to pay off your bill before the interest-free period expires, you’ll be slapped with sky-high interest fees.