The time is approaching when many individuals in Tennessee will get together with family and friends and celebrate the holiday season. For many, this also means creating a schedule and budget for holiday traveling. With recent reports indicating that many plan to use credit accounts to cover their expenses, holiday travel costs could leave some families searching through the available options for debt relief.
Recent studies indicate that just under half of all Americans surveyed said they plan to spend money on expenses such as hotel rooms and flights over the holiday season. These studies indicate that the average person could spend as much as $1,500 on travel-related expenses. With many individuals planning to use credit cards to cover their needs, a holiday trip could leave many facing significant financial concerns.
Studies also indicate that some families are still working to pay off travel expenses from the previous holiday season. Experts also advised that more than 70 percent of Americans simply fail to plan their holiday trips in advance and end up paying increased prices for airline tickets and lodging costs. When coupled with the possibility of overspending on gifts, extensive travel costs could bring about dire financial hardships.
When holiday travel expenses lead to severe financial struggles, families in Tennessee may wish to know more about the steps to take to safeguard their finances. Those who wish to gain a better understanding of the available options for debt relief could choose to speak with a bankruptcy attorney for advice. An attorney can examine the client’s financial situation and assist him or her in forming a strategy to reduce or eliminate debts through the necessary outlets.