Can Holiday Shopping Be Fueled by Smarter Financing Options?

This season has been largely met with predictions of consumer optimism, with various reports forecasting healthy spending that could even see an increase from recent years. But similar surveys have also reported consumers expect holiday spending will more than likely result in debt. To meet this challenge, consumers are turning to alternative payment platforms; better planning their holiday shopping and spending, and seeking deals and various incentives from credit card companies and retailers. According to a recent survey by Credit Karma, Americans feel that debt is unavoidable during the holidays, with 81 percent of respondents saying buying gifts for family was the number-one reason for holiday debt. Though even given expectations of debt, Credit Karma found that Americans still plan to spend. To best manage spending over the holidays, Dana Marineau, vice president and financial advocate at Credit Karma, advises consumers to “make a plan” and “set expectations.” Further, “Credit Karma found that among those who plan to make changes to their holiday spending habits, 28 percent of those surveyed plan to save money this holiday season by agreeing upon a set budget with those they will exchange gifts with.” Additionally, Marineau said consumers can look for deals year-round, “Holiday sales are no longer

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