Reverse Mortgages and Holiday Spending

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The holiday season is upon us and for many, it will be unlike any other holiday season we have known.  Some are shifting their focus from the pandemic and looking forward to purchasing gifts for family and friends.  The National Retail Federation reveals that consumers intend to spend an average of $997.79 on holiday items such as decorations, candy, and gifts.These added expenses along with the costs of everyday living can add stress and possibly put you in a financial bind.

Reverse Mortgages and Holiday Spending

To ease the urge to overspend, you may want to look at some creative options which can leave more money in your pocket and let you enjoy the holidays.

  • Create a budget and then figure out how much you can afford to spend on each person. Include your expenses and monthly budget so you don’t overspend.
  • Have a list of who you are buying for to avoid impulse purchases. A list allows you to make sure you’re buying for who you want to.
  • Gifts don’t always need to come from a store. Small tokens, gestures, or handmade gifts to loved ones can be just as heartfelt. Whether it’s making some homemade goodies, writing a thoughtful note, or knitting a scarf, can mean so much more than a store-bought item.

If your bills from the holidays or other debt are causing you financial stress, a reverse mortgage may be able to help. To find out more, call 1 (800) 976-6211 to speak with a licensed loan advisor.