The expectation is one of joy and good cheer, but for many Americans the overwhelming reality about the holidays is stress about money. While the holidays are a great time to be with loved ones and ring in the New Year, things tend to be more complicated when you're having financial troubles.
Still, many Floridians are undoubtedly going to accumulate more credit card debt during the holiday season, even when they're not sure they can pay the bill. According to a poll conducted for NerdWallet, survey respondents who are in a relationship said they would spend an average of $338 on their partners during the holidays, spanning from Thanksgiving to New Year's Day.
The poll, which surveyed more than 2,000 adults, found that respondents who are in a relationship are willing to amass, on average, $200 in credit card debt during the holidays. And about one-third of respondents said they had previously used a credit card to purchase a gift for their partner while being unable to pay off the debt immediately.
If you're already having debt problems, then you and your spouse or partner might want to consider ways other than gift-buying to celebrate the holidays. For example, maybe you could have a talk about enjoying experiences together rather than purchasing gifts that exceed your budget.
Alternatively, you and your significant other might want to buy a joint gift that you can both use or enjoy. In any case, setting a budget for holiday spending is always a good idea.
For more on legal issues related to debt relief, please see our Florida bankruptcy and debt relief overview.