Keep Your Finances in Order during the Holiday Season

Share Article

Equifax Provides Tips for Surviving This Year’s Retail Rush

With a little planning and mindful shopping, you can have a great holiday season without being overwhelmed with bills come January.

The holidays are fast approaching, and with them arrives the gift-giving season that can often leave shoppers feeling frazzled about their finances come January. To help consumers maintain their peace of mind and their credit scores, Equifax has provided tips for managing holiday shopping expenses.

It’s important to put aside money and set a budget before starting your holiday shopping. Doing so can focus your shopping trips and reduce your overall spending. Creating a shopping fund also can help you avoid paying for gifts on credit.

Tips for managing finances during the holiday season include:

  •     When shopping, keep in mind the true price of a gift if you pay for it on credit. A gift can end up costing much more after you pay interest.
  •     Spend wisely to avoid maxing out your credit cards. High outstanding debt accounts for nearly 30 percent of your credit score.
  •     If you do incur debt, pay it off as quickly as possible. If you can afford to do so, pay more than the minimum monthly payment.
  •     Avoid late fees, higher interest rates and deductions to your credit score by paying bills on time.

“Everyone loves the feeling of giving a friend or family member that perfect gift, but it’s not worth racking up debt and spending beyond your family’s means to do so,” said Trey Loughran, president of the Personal Solutions unit at Equifax. “However, with a little planning and mindful shopping, you can have a great holiday season without being overwhelmed with bills come January.”

It’s also critical to remember that the holidays are a busy time for identity thieves. While shopping online, only make purchases through reputable businesses and use unique passwords for each online store that requires a login. Keep a close eye on your bank and credit card statements for any unusual activity. It might also be a good time to consider a credit monitoring and identity theft protection product for your family, such as Equifax Complete™ Family Plan (

About Equifax

Equifax Personal Solutions empowers consumers with the confidence and control to be their financial best. Find out more about Equifax’s innovative suite of credit monitoring and identity theft protection products designed to enable consumers to maximize their financial well-being at Get smart information on everything from credit to retirement, all in one place at the Equifax Finance Blog,

Equifax is a global leader in consumer and commercial information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers. Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, please visit

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Caroline Wilbert

Michele Cacdac-Jones
Visit website