Plan Ahead for the Holidays with PayBreak
‘Tis the season for slushy boots, ugly sweaters, and budgeting to make it through the busiest time of the year. Whether it’s preparing a festive feast for your extended family or handmaking gift baskets for classroom parties, those extra costs can quickly add up.
The pressure to create picture-perfect memories often leads to overspending—even if you’ve meticulously mapped out all your end-of-year finances. It’s easy to get caught up in the whirlwind of sales and excitement and expectations. Cutting back or sacrificing altogether in other areas is all too common as a result.
Parents, especially, find themselves pinching pennies amidst all the holiday cheer. A 2023 study by LendingTree found that among its participants with children under 18, nearly half had lost sleep worrying about how to afford gifts and other seasonal expenses.
The study also found that at least ten percent of Americans are still paying off last year’s holiday bills. That’s where Community Choice Credit Union can help. UNbankers can relieve some of the financial tension by pausing their loan payments with the PayBreak program.
The rules are simple:
- A minimum of three payments must be made on all new loans to qualify.
- Your most recent payment (prior to the month you’re looking to delay) must be made before applying.
- Member accounts must be current and in good standing to qualify.
Credit cards, first mortgages, and home equity loans are not eligible for PayBreaks. Each loan payment that’s postponed costs $25.
Applications are subject to approval and limited by product type.
Everyone needs a break, especially around the holidays. Take a PayBreak, have some hot cocoa, and relax knowing that you’ve got a little more breathing room.
Apply online or visit your local UNbanking center to learn more.
