Some consumers looking to free up
cash for holiday spending this year are turning to a costly source: cash advances on lawsuits.
CNBC surveyed 800 adults to get their views on the state of the U.S. economy, the Trump presidency,
plans for holiday spending, and more.
Consumers with student loans are more likely to turn to other sources of debt, including credit cards and personal loans, to help them
pay for holiday spending — the survey showed they're also more likely to try to save money by selling presents they receive or re-gifting items.
«Discretionary
dollars for holiday spending are limited for the large pool of lower - and moderate - income consumers due to lack of wage gains this year coupled with the increased payroll tax.»
You can transfer money from your credit card directly to your current account — helpful if you need a little cash, are
looking for some holiday spending money, or need to cover unexpected costs.
Credit cards and holidays savings make an unlikely pair because many consumers pull out
plastic for holiday spending only to end up snowed under by debt in January.
The current conditions index, which is a strong
indicator for holiday spending, jumped a sharp 2.9 points from November to an expansion peak of 115.9.
Katie Bossler is expecting calls in January from people looking to manage the debt they've accumulated, either
for holiday spending or from medical bills.
A few weeks back, as you were gearing up
for holiday spending, you might have noticed you got a new credit card — a chip credit card.