Times are tough for some of us that are barely making it by, or at least sacrificing some of our high-end buys for drugstore steals (me!). It’s more than ever necessary to be more frugal and to take steps toward being debt-free.

I try to stay away from credit cards. They are risky business, because you never know when you’ll have to cut costs and end up struggling to make your payments on time each month, including car insurance. Not only that, but if you find yourself with near maxed-out credit and also not doing so well in other areas, your credit score will falter. Being relatively debt-free is crucial to credit health, and credit health is so very important in our present state of economy.

When you have good credit you will have a better shot as a borrower should you ever need a lender for extra cash. This could mean being able to provide for your family better during a shortage of income, or if you’re celebrating Christmas with gifts, being able to buy for each member of your family. This time of year always sets people back in the finance department; just know that you can explore alternative options to celebrating the holiday season. I think your family and friends will understand. Christmas doesn’t need to be about spending money to make people happy. It will also spare you the stress of paying back all debts accrued for the holiday.

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