Over 15 million consumers could become delinquent due to holiday shopping
The end of the year brings with it the joy of the holidays, but also the challenge of managing expenses to avoid debts that could last until 2024. A recent survey by CNDL (National Confederation of Store Managers) and SPC Brasil (Protection Service of Credit), in collaboration with Offerwise (a global consumer intelligence provider), revealed that 33% of consumers planning to give gifts this year have outstanding bills, while 69% have a bad credit.
These numbers highlight the importance of consciously approaching finances during festive celebrations.
The study also revealed that 24% of those interviewed who intend to buy Christmas gifts have the habit of spending beyond their means. The situation gets worse when 9% say they want to stop paying the bill to buy the much-desired gifts.
This information indicates that approximately 15.2 million consumers could end up in default due to holiday shopping.
Edemilson Koji Motoda, president of the Geoc Institute, which brings together the 24 main collection companies in the country, underlines the importance of taking care of the budget in this period. He emphasizes the need for a balance between giving gifts and keeping your finances healthy.
“It is important for consumers to be aware of their financial limits and avoid compromising their budget with unnecessary expenses. Planning is the key to a peaceful start to the year,” he warns.
How to avoid debt
The president of the Geoc Institute gives 5 tips to avoid debt during the holidays:
1. Financial organization
Before you go shopping, it’s essential to establish a realistic budget for gifts and celebrations.
2. Prioritize needs
Evaluate the real need for each purchase and focus on the most significant gifts.
3. Do some research on pricing
Compare prices and take advantage of promotions, making your purchases conscious.
4. Avoid excessive installments
Choose payment methods that do not compromise the future, avoiding interest and long installments.
5. Negotiate outstanding debts
If you already have debt, try to negotiate your debts before making new purchases.
With these precautions, consumers can enjoy the festivities without compromising their financial well-being. By following these valuable tips, the transition to 2024 can be marked by prosperity and financial stability.
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Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
