If you tend to do much of your holiday shopping with your credit cards, you’re probably familiar with the common post-holiday credit card debt many consumers face. It can take months to pay off those Christmas and other holiday gifts for all of your friends and family.

While there are many things you can do to cut down on holiday shopping debt (like only using cash or preparing a tighter budget), there’s a simpler option that still lets you take advantage of your credit cards. Shop early.

Why Now is the Time to Start Your Holiday Shopping

With October sneaking up on us it might feel a bit too early to think about the end-of-year holidays. But retailers are well ahead of you. Some already have Christmas displays out, and others will before too long. If you take advantage of this early holiday shopping period you can save money and avoid racking up a huge amount of credit card debt to kick off your new year.

Why? Early holiday shopping can help in several ways:

•    It gives you more time to find great deals while product demand is lower. For example, you might find deals on things like electronics as stores start making room for next year’s models. Or you can shop for staple gifts for neighbours, casual acquaintances, kids’ teachers, etc., such as candles.
•    If you need a new credit card or want to change credit cards anyway, it gives you more time to take advantage of introductory offers for holiday shopping (like the Westpac 55 Day credit card which gives you interest free financing on purchases for your first five months).
•    You have time to pay off your holiday shopping bills a little at a time before the holidays even arrive.

Other Tips for Minimising Holiday Credit Card Debt

The holidays can be stressful enough without having to worry about money more than you need to. Here are a few additional tips to help you cut down on that stress this holiday shopping season.

•    Only finance larger gift purchases. Pay cash for smaller ones so there’s no potential for debt at all.
•    Give yourself a strict payment schedule before you start shopping, and calculate what your monthly payments can be at a maximum. Use that as a guide for setting your holiday shopping budget, so there are no surprises after the holidays where a three-month repayment goal proves to be unreasonable.
•    If you start shopping early, use online price comparison sites as well as visiting local retailers. You’ll have more time to find the absolute best deals around, and you’ll have time to wait on shipping rather than being in a rush and paying a premium for it later.

If you’re used to dreading holiday credit card debt, now is the time to make a change. Let the holidays this year be more relaxing and more enjoyable by tackling at least some of your holiday shopping early. If you love the hustle and bustle of last minute shopping, go ahead and leave some of your budget for that too. But make sure you get the best deals on bigger purchases by looking at early offers. You don’t have to start your new year in more debt than you already have.