Budgeting for the Holidays: A Better Alternative Exists

It's beginning to look a lot like Christmas everywhere you go (online or otherwise). The countdown is on, which means parents, siblings, lovers, and friends will be getting creative to find gifts without breaking financial budgets. It's the most wonderful (and often most stressful) time of the year. 

We all want to make the holidays special for the people we love, but at what cost? Today’s savvy consumer is wary of high-interest credit cards — and it’s officially too late for layaway for the 2019 holiday season — so how can someone without enough cash on hand make an important purchase in a smart, sophisticated way?

Two words, seven syllables, endless possibilities: alternative financing.

Let’s say you want to buy a new futon for your college-aged daughter, or new hunting gear for your beloved dad. Funds are short. How great would it be if you asked the universe for the amount of money you needed — up to $5,000 — and sat patiently as offers came directly to you? That very situation happens for thousands of satisfied Credova customers every day.
To get started, all you need is a few minutes of time and a ballpark figure you’d like to borrow. Better still, Credova can get you approved with what’s called a soft credit inquiry, which does not affect your overall credit in any way.

Why Alternative Lending Exists

Alternative lending was born out of the 2008 Great Recession. People didn’t have cash on hand to purchase what they needed, and big banks were on the verge of financial collapse. Credit was suddenly next to impossible to secure.

Fears about the likelihood of another recession are creeping up, and customers are gearing up to spend less and save more this year as a result. Buy now, pay later payment methods are now so integrated into the consumers shopping experience that, while a recession does appear somewhat imminent, we’ve got in place the tools to survive it. Budgeting out a better holiday shopping season is easy through an option like Credova.

A major benefit to customers is helping them avoid going into major credit card debt. By utilizing a buy now, pay later payment method, you can make those important purchases and break out payments over several months. In fact, some qualified customers can pay 0% interest if they pay off their purchases within 90 days[i]. Credova also has options that allow customers to take up to 36 months to complete their contracts.

Financing your big holiday gifts this way can help you wind up with a better credit standing as well. By making on-time monthly payments, you can actually help improve your credit score with Credova.

Why Alternative Lending Works

If you’re making your holiday list and checking it twice, keep a few parameters in mind to ensure you get the most financial bang for your buck. Consider these holiday shopping tips:

1. Plan Your Budget and Payback Schedule: Map out whom you need to purchase presents for and exactly how much money you’re willing to spend. Without this part of the plan in place, you’re likely to spend much more than you intended and dig yourself into a hole.

2. Consider Your Financing Options: It can seem overwhelming to know the right financial course to take with so many options at consumers’ disposal. Plenty of factors are at play, from the predictability of a payment to the lure of 0% APR options. Credova’s Credit EDU platform is a great resource to compare all of the possibilities.

3. Determine the Right Fit for Your Needs: Every dollar counts, so do your due diligence when evaluating the pros and cons of any financial decision. Credova isn’t just one buy now, pay later option — it’s actually multiple! Customers can be approved for several financing plans (for up to $5,000) within minutes and just in time for holiday shopping.

This holiday season, you don’t have to go without, and you don’t have to break the bank. When you’re ready to make this the greatest Christmas ever, click the Apply link and experience a better buy now, pay later payment method with Credova.
[i] Terms and conditions subject to approval based on customer’s credit profile