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Financial Literacy and the Holidays

7 Ways to Stay Out of Debt This Holiday Season


Last year, the average American who took on new debt during the holidays came out an additional $1,054 in the red. Most of those who took on new debt didn’t plan to and weren’t able to pay it off for the next several months, if at all. Obviously, that’s not ideal: unexpected debt can lead to increased stress and decreased financial flexibility.

To set the stage for a zero-debt holiday season this year (and to give yourself a good shot at a debt-free 2019), do these seven things today. Read the tips at 5 On Your Side

Credit Card Debt After The Holidays: Survey Finds $998 Average Balance

In January, LendEDU conducted a survey of 1,000 Americans who went into credit card debt as a result of holiday spending. In short, we found that our average respondent accumulated $998.36 of debt after splurging for the festivities. Respondents were asked a series of questions about their credit card spending during the holidays, debt payoff plans, and post-holiday financial stress.

The holidays can be a stressful time. And, the time after the holidays can be even more stressful if you are one of the many Americans in financial recovery. In our previous survey ahead of the holidays, we found that nearly a quarter of Americans were planning on incurring debt as a result of holiday spending. Read the rest at LendEDU

      

More Personal Finance Tools Available at PFEEF

PFEEF’s mission is to provide support to organizations and their employees as they take charge of their financial well-being. The Employee Survey and Personal Financial Wellness Scale™ and additional PFEEF services enable employers to understand that employees who have their finances in order will be more productive.

From all of us at PFEEF, we extend our wishes for the happiest of holidays and may the new year bring a greater abundance of peace and goodwill to us all.   
Click here to read about the latest academic research that supports organizations and their employees as they take charge of their financial well-being
The PFW Scale™ is an effective way to evaluate employee financial stress. Click here to learn how your organization can benefit by using the Personal Financial Wellness Survey™
Personal Financial Employee Education Fund (PFEEF)
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