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Americans spent, on average, approximately $1000 in 2020 on holiday-related items. It’s not just gifts that add up, though that’s the bulk of the cost. Plenty of other expenses can empty your wallet during the holiday season, including:

Are you looking to get your budget and finances in order before the holidays? While it may seem like an overwhelming task, financial wellness is well within your reach! Lone Star Credit Union Financial Independence Training (FIT) will help alleviate some of the stresses of financial budgeting as well as create a plan of action to help take control of your finances.

Home equity loans give access to a large sum of money by allowing you to borrow against your home's value. You aren't limited to only using the loan for house-related expenses as long as your home is worth more than you owe on it.

For example, the expenses can be used to remodel your property, pay for college, or fund the purchase of a second home. This type of loan is different that a traditional loan as it acts as a line of credit, meaning that a certain amount of your home will be borrowed and your equity in the home is the collateral for the loan.

The advantage of home equity loans is that interest rates are considerably lower than they would be through a credit card.