How to deal with financial problems before the holiday season

The holiday season can provide many reasons to spend money. There are flights to book, gifts to buy, special party outfits, extra catering for visitors and the temptation of seasonal sales. In order to participate in the festivities, many people may end up stretching their budget – whether or not they can actually afford it.

“Even as credit card debt exceeds $1.14 trillion, holiday shoppers expect to spend an average of $1,778, up 8% from last year,” he said. CNBCciting a Deloitte survey of holiday retailers. These spending plans are in place even though, according to another NerdWallet report, “28% of holiday shoppers still haven’t paid for the gifts they bought for their loved ones last year.”

While you may be tempted to focus on the fun now and worry about your finances later, the reality is that “with interest rates near all-time highs, relying on credit cards or even buy now, pay later to buy gifts will pay off a high price if there are missed or overdue payments.” Not to mention adding to the existing one debt burdenor expenses that you know are beyond your budget can cause a lot of financial anxiety. Here are four tips to keep your financial fears at bay this holiday season.

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Sometimes financial anxieties can also come from a deeper place. For example, “some common” triggers include “lack of personal finance education or your childish beliefs about money,” said CNBC Select. By working through these issues and taking steps to resolve them—such as talking to a therapist or increasing your financial know-how — can help you develop a better relationship with money.