Contact Us Español
Nymeo Federal Credit Union Go to main content
5 Spending Tips to Bring You Less Stress (and More Joy!) This Holiday Season November 8, 2022

This year, many Americans may find they are dealing with financial setbacks such as a loss of employment, reduced income, or other unanticipated expenses that may make it more difficult to avoid having holiday debt follow them into the new year.

Here are five tips Nymeo’s partner, GreenPath Financial Wellness, designed to give you less stress and more joy this holiday season.

car icon

Set a Holiday Spending Limit


During the holidays, it can be easy to let spending get out of control. Put a cap on your spending by creating a holiday budget or spending plan.

Be sure to factor in additional non-gift related expenses that can easily add up—things like holiday photos, decorations, food, and if your family gathering is cancelled, shipping of gifts to loved ones. 

Avoid Putting Holiday Debt on Credit Cards


Avoid spending money you don’t have. While it’s easy to do, putting holiday spending on credit cards can be risky— especially if you don’t have the funds to pay it off when the bill comes due.

According to a recent survey, Americans racked up an average of $1,325 in holiday debt. Of those surveyed, 75% said they wouldn’t be able to pay it off in January, with 15% saying they only intended to pay the minimum monthly payment. In case you’re wondering, that translates to over $600 in interest and 5 years of making payments—ouch!

Wish List icon

Trade Pricey for Priceless


A great gift doesn’t have to be expensive. Think outside the box and treat your loved ones to a thoughtful gift that generates excitement without the price tag. Maybe that’s a handmade item, DIY project, a fun experience, a coupon book, or just the gift of your time. 

Keep Your Personal Info Safe


The holiday season is a time when people are more vulnerable to identity theft scams. Not only are they making more purchases than at any other time of year, but they are often distracted when doing so. According to a recent Experian study, as much as 43% of holiday shopping identity theft occurs online. It’s important to be aware of the best ways to protect yourself from identity theft:

  • Stay up to date with online scams
  • Use strong account passwords
  • Monitor your credit report


tax icon

Seek Assistance if You Need it

If you are caught up in the holiday frenzy and stressed about overspending, utilize experts who can help you, such as our partners at GreenPath. In fact, 90% of people surveyed report feeling better prepared to handle their finances after speaking with a financial counselor. It’s free, no pressure, and 100% confidential. More information is available here. 

  • Share:

Category: Credit & Budgeting

« Return to "Tutorial Tuesday Blog"

You may also like.

credit score display

How to Build Credit from Scratch

If you need to build credit and aren’t sure how to do it without going into debt, this recorded webinar presented by our partners at GreenPath Financial Wellness

Read more

By NymeoCredit & Budgeting

Vacationing On A Budget

Does your brain need a vacation, but your wallet is telling you no? All of us have been there so let us share our years of combined experience to help you achieve your goal.

Read more

By NymeoCredit & Budgeting

How Your Credit Score Impacts Your Financial Future

Many people do not know about the credit scoring system— much less their credit score—until they attempt to buy a home, take out a loan to start a business or make a major purchase.


Read more

By NymeoCredit & Budgeting