{"id":188258,"date":"2025-01-07T13:43:05","date_gmt":"2025-01-07T18:43:05","guid":{"rendered":"https:\/\/thevwindependent.com\/news\/?p=188258"},"modified":"2025-01-07T13:43:07","modified_gmt":"2025-01-07T18:43:07","slug":"guest-column-tips-for-holiday-bills","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2025\/01\/07\/guest-column-tips-for-holiday-bills\/","title":{"rendered":"Guest column: tips for holiday bills"},"content":{"rendered":"\n<p><strong>By Jamie Crawford<\/strong><\/p>\n\n\n\n<p>COLUMBUS &#8212;\u00a0As Ohioans await credit card bills from the recent holiday season, the\u00a0Ohio Department of Commerce\u00a0Division of Financial Institutions (DFI)\u00a0is sharing tips to help consumers work through any post-holiday financial headaches, whether it\u2019s managing surprisingly large invoices or dealing with potentially stolen credit cards.<\/p>\n\n\n\n<p>The\u00a0National Retail Federation\u00a0reported late last year that sales during the 2024 holiday season were expected to reach a new record. At the same time, according to a survey conducted by\u00a0LendingTree, 36 percent of American consumers were expected to incur holiday debt with an average balance of $1,181, which is up from $1,028 in 2023.<\/p>\n\n\n\n<p>DFI Superintendent Kevin Allard said the combination of spending more and going into debt can lead to an increased risk of carrying balances into the next holiday season, which can cause even greater financial pressure for consumers.&nbsp;<\/p>\n\n\n\n<p>\u201cAlthough they\u2019re quite common in January, larger-than-expected bills after the holidays can seem overwhelming and, at times, insurmountable,\u201d Allard said. \u201cIt\u2019s important for consumers to take a breath and realize there are steps they can take to address this financial challenge in the short term so their overall long-term financial outlook isn\u2019t negatively impacted.\u201d<\/p>\n\n\n\n<p>To help manage holiday debt, Ohioans may consider taking the following steps if they receive a large bill:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Negotiate a lower interest rate\u00a0\u2013 Contact your creditors and emphasize your history of on-time payments or cite competitive offers from other companies. A single phone call could result in significant savings.<\/li>\n\n\n\n<li>Consider participating in a no-spend month\u00a0\u2013 Offset holiday expenses by challenging yourself to limit spending to only necessities like housing, transportation, and groceries for an entire month.<\/li>\n\n\n\n<li>Create a debt payoff plan\u00a0\u2013 Don\u2019t panic if you are unable to pay off all your holiday spending immediately. Instead, develop a realistic plan that will allow you to pay it off as soon as possible. Just as important, make sure to stick to this plan.<\/li>\n<\/ul>\n\n\n\n<p>When you receive your credit card bills in the mail, don\u2019t focus on just the amount you owe. Instead, review each expense to ensure there isn\u2019t anything out of the ordinary that may have driven up your bill up any higher than it should be.<\/p>\n\n\n\n<p>According to Experian, credit card fraud remains a significant issue, with over 214,000 cases reported in the first half of 2024. If you believe your credit or debit card might have been compromised during the holiday season, DFI recommends taking the following steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cancel your card\u00a0\u2013 Contact your card issuer or bank immediately to cancel the card and request a replacement. For debit cards, make sure to also update your PIN.<\/li>\n\n\n\n<li>Monitor your accounts\u00a0\u2013 Regularly check statements and online activity for unauthorized transactions. If you notice any disputes or suspicious charges, report them immediately.<\/li>\n\n\n\n<li>Change passwords\u00a0\u2013 Update your passwords for any accounts that may have been compromised, and also be sure to update your login credentials. Consider freezing your credit to prevent unauthorized new accounts from being created.<\/li>\n\n\n\n<li>Report the issue\u00a0\u2013 Report stolen information to the Federal Trade Commission at\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__u36632242.ct.sendgrid.net_ls_click-3Fupn-3Du001.Alvp-2D2BpzYTQ-2D2BckF-2D2FqPZDgy0tkw-2D2BE8fjmbb8X9R8rCWZOsMGp0M9dc9LIIsB3Ym2Txnw19-5FpIbxPfpDI69aAybPrpOfg13-2D2BnRq9m1GIM7tuH7cFM0nEfbYl-2D2FmSTl0Gh1qvrOwJaQQoCyyYAZLndF7rMTExMK5x-2D2BOhxq0xgfIE5DeMIzO3goZtPAvAhD-2D2BBJNqtdpPBAfG9WaydoCa2e4KBxWAOyd2MpFowiJ1TUYoJSIKbc2HyaUqbgUW9544UKNjZHCFMaA2-2D2BuYLxk89jADzde0ynXR24TulZEAUOYlIcYX7q-2D2FN9RscAJQZPAGXjK8ruX27kyjMvtGiwD2wb5TRTr-2D2FpjmFS1yLzvqBgURBSePk2aszt9H2CEEhW0-2D2FO9-2D2F0LZOnqzjqK3ln8Efzgw56I4wx-2D2BpvK8Mp31r0SW9X5p2Mm75yW2r75M-2D3D&amp;d=DwMFaQ&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=FC13PzDbVZ8qhVsUeHYgLJLYUVcrkfTA5q3JvQduqoI&amp;m=8v7gHILYifxykdYqFT7kYwNDbYqdEkZT3QVAJ6Cmxa_3Gd-j_935l18PkwiFl87-&amp;s=xau-_W67ocI_UekwOyEv9XsG3NAWbuxjASZHSsdSnFI&amp;e=\">identitytheft.gov<\/a>\u00a0for additional support.\u00a0<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;\u201cWe want Ohioans to feel empowered to take control of their financial future,\u201d Allard said. \u201cWhether it\u2019s addressing holiday debt or protecting against fraud, taking a combination of both appropriate reactive and proactive steps can help you achieve greater financial stability.\u201d<\/p>\n\n\n\n<p>For more information and resources on financial health, fraud prevention, and credit improvement, visit&nbsp;<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__u36632242.ct.sendgrid.net_ls_click-3Fupn-3Du001.Alvp-2D2BpzYTQ-2D2BckF-2D2FqPZDgyz-2D2FA3Rx-2D2BdMqmCvXOeUqLJ-2D2B9GManVSCi-2D2FtwYZSU8xY6tNbX3hsvjWDwCwc6ITZe1jWBpMVDGs9YZvvifkaDJoi6bJ6HVdtFEDfz8aVOfkp5GsB5D3-5FpIbxPfpDI69aAybPrpOfg13-2D2BnRq9m1GIM7tuH7cFM0nEfbYl-2D2FmSTl0Gh1qvrOwJaQQoCyyYAZLndF7rMTExMK5x-2D2BOhxq0xgfIE5DeMIzO3goZtPAvAhD-2D2BBJNqtdpPBAfG9WaydoCa2e4KBxWAOyd2MpFowiJ1TUYoJSIKbc2HyaUqbgUW9544UKNjZHCFMaA-2D2F21GBV-2D2FrwFRuMyJ7TGiIHsqrz3pI-2D2BX0fOKWn1EphAlk612MV7ZWtgLNOqWYH7XuRXdpiyES9XFZBdrJ-2D2FedkROt0TwwP2sk5TK87YwTpGLImO-2D2Fpw6OvdsJZ9EHwS5WTNvICXDGNfOieKQs0iMaASBZ-2D2BLBiZLthprt5qTQqEuxGBQ-2D3D&amp;d=DwMFaQ&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=FC13PzDbVZ8qhVsUeHYgLJLYUVcrkfTA5q3JvQduqoI&amp;m=8v7gHILYifxykdYqFT7kYwNDbYqdEkZT3QVAJ6Cmxa_3Gd-j_935l18PkwiFl87-&amp;s=QR-wMjCmbI0zztEwoUyZeuWL2MbxU3AR-sEim_bpodk&amp;e=\">DFI\u2019s website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jamie Crawford COLUMBUS &#8212;\u00a0As Ohioans await credit card bills from the recent holiday season, the\u00a0Ohio Department of Commerce\u00a0Division of Financial Institutions (DFI)\u00a0is sharing tips to help consumers work through any post-holiday financial headaches, whether it\u2019s managing surprisingly large invoices or dealing with potentially stolen credit cards. The\u00a0National Retail Federation\u00a0reported late last year that sales [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[],"class_list":["post-188258","post","type-post","status-publish","format-standard","hentry","category-opinions"],"publishpress_future_action":{"enabled":false,"date":"2026-07-10 00:53:24","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/188258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=188258"}],"version-history":[{"count":1,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/188258\/revisions"}],"predecessor-version":[{"id":188259,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/188258\/revisions\/188259"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=188258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=188258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=188258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}