Paying Off Christmas Bills

Do you have Christmas bills to pay?

It’s been said that “Christmas is the season when you buy this year’s gifts with next year’s money.” Now, if your bills are stacking up, here’s what you do: face the facts, take responsibility, and begin to pay them off. First, prioritize and systematically tackle them so you can better manage your income this year. Only spend money on essentials until things are really under control. Apply all your extra income, like raises, bonuses, gifts, and tax refunds, to the highest-interest credit card first. The sooner you pay off the balance, the better, and if you already pay off your balances every month, then you don’t have a problem.

Now, if not, make a list of payment due dates. They typically appear at the top of your statement.  If you’ve created an online account, log in to verify the date that the bill is due. Pay what you can as far ahead of the due date as possible. Extra payments throughout the month really do help. Your interest charge is usually calculated on the average daily balance, which will drop when you pay ahead. Plus, early payments can improve your credit score. Set reminders on your phone to pay on time and avoid late fees.

Now, if you’re burdened with debt, you know why the Bible says, “The borrower is slave of the lender.” (Proverbs 22:7) But don’t lose hope. You can pay off these bills with God’s help and some sacrifices on your part. Now is a great time to start a budget. Not only will your finances improve, but you’ll avoid the stress of Christmas bills next year.

And if you’re really struggling, I want you to check out our budget coaching program. It can put you on the road to financial freedom. Go to Crown.org and click “Get Help Now.” You can start today at crown.org.