Credit Cards: How to Avoid Holiday Overspending Christmas Shouldn’t Destroy Your Bank Account

stockfresh_1104622_falling-credit-cards_sizeS-300x200It is beginning to look a lot like Christmas if you believe in retail stores. Some are starting to get the decorations out and are planning their holiday campaigns. It is a time of love and giving. But unfortunately, Christmas is also a time when credit cards get maxed out.

Folks have a hard time saying “no” in December, which will get them in financial trouble. They may already be stretched to the limit on their plastic. Credit card balances, and the interest charged on those figures, can wreak havoc on anyone’s finances. Paying those bills adds to the stress and anxiety of many employees.

Financial wellness help is something many people want from their employers, and it means more than office seminars. The ability to speak to a professional who can give guidance and support is appreciated. Countrywide Pre-Paid Legal Services has a financial wellness benefit that can help.

Some Creditworthy Ideas

Countrywide wants plan members to get the assistance they need, and it should be the best. We have a nationwide network of certified counselors who will provide excellent financial wellness guidance. There is a Countrywide counselor in every community where we have a client. Setting up a COVID-safe meeting is easy because our plan members have priority status. Ideas the counselors might share with a plan member include:

  • Automatic card payment. The plan member would arrange with their bank to have a certain amount of money automatically transferred to the credit card company each month. Chances of incurring penalties for late payments are eliminated that way.
  • Snowball the balances. Pay off the card with the lowest balance first. Once that is done, use the freed-up money to pay off the next balance and continually “snowball” payments until all large balances are eliminated.
  • Debt consolidation. Credit card companies offer consolidation services that enable a person to consolidate all credit card debt into one payment at a low-interest rate, thereby eliminating multiple monthly payments.
  • Create a designated card. Use one card for special payments, such as automobile service and repair. It will help keep the debt amounts on other cards manageable and the interest payments low.
  • Work on the personal budget. A little fine-tuning can solve many credit card issues.

A Countrywide counselor can provide significant help with a personal budget. Our money professional can do a budget analysis that uncovers possible adjustments to make paying off existing credit debt easier.

Countrywide can come to the rescue of any financial wellness plan member who feels overwhelmed by the plastic obligations. We have a Debt Management Plan that will give extra help to those who are in serious trouble. It costs a bit more but can be a genuine lifesaver for someone.

The Client’s Choice

Our clients are directly involved in creating the benefit. We will explain all our options to a prospective client, and we answer every question. The client organization will select the benefits that will be in their financial wellness plan, and we provide the member services and the administration.

What is always a part of Countrywide’s benefits is empathy. Our counselors are sensitive to the needs of plan members and respect each person. We want to help people, and emotional intelligence is expected of our counselors.

Christmas is coming faster and faster. It will be Black Friday before you know it. Credit cards do not have to be a source of anxiety and frustration. Countrywide can help a financial wellness plan member take control of the plastic and buy great presents at the same time. Please feel free to contact us at your convenience if you have any questions about our benefits. We are ready to answer any inquiry.