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4 Tips to enjoy Black Friday deals without incurring holiday debt

Black Friday will be arriving one day early in 2012. This will induce the people to shop more. People hardly think and care about money during the festive season. As the retailers come up with exciting shopping offers via smart-phone for Black Friday, consumers need to have extra-control over themselves to avoid financial problems.

The National Retail Federation predicts that people are most likely to shop more during this festive season. They may spend $749.51 (on an average) during the last 2 months of 2012. The total sales during the festive season are going to touch $586.1 billion in this year.

Too many articles have been written on how the economy of the country will improve in the coming months. People say that economy of the country is very weak. If that is the case, then how come people are engrossed in purchasing goods for their loved ones on Black Friday?

Actually, people hardly think about the terms "debt", "budgeting", "finances" during the festive season. They whip credit cards and purchase goods. Once the festive season is over, several people will end up spending the first half of 2013 in repaying the bills.

4 Sensible tips to stay away from holiday debt

If you love yourself and don’t want to get into holiday debt, then have a look at the following tips.

1. Don't accept cash advances: Some credit card companies are sending blank checks via emails to customers during the festive season. Remember that you may have to pay as much as 20 percent on these cash advances if bills are not repaid within the scheduled time.

2. Never open a new account: Don't take up a new credit card in the lure of exciting Black Friday shopping deals. Keep it in mind that you’ll have to pay credit card bills later on. Nothing comes free in this materialistic world. Entering into a new financial arrangement during the festive season is indeed a very bad idea.

3. Don't accept special offers: Some credit card companies are trying to attract consumers through special offers. For instance, no--interest balance transfers and cash back offers for spending a certain amount. Don’t ever accept these offers.

The consumer credit card debt in the country is almost $600 billion because many consumers make hasty decisions. They don’t think about their affordability prior to accepting these offers. Always, check your monthly income first before accepting the offer happily.

4. Avoid spending more to earn rewards: Credit card companies often specify the spending requirements in order to earn reward points. This is just an ugly trick to make you spend more with the credit card. Be smart and avoid spending more dollars just to win a few reward points.

If you’re really facing some financial problems, then try the age-old tip of making your family happy with home-made gifts. Remember that you don’t need to be a smart shopper in order to get lucrative deals. You just need to use your brain and money smartly to avoid incurring debt on Black Friday and other days.

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