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Rising costs are driving some to charge it instead of using cash.

Mark Marshall, Licensed Insolvency Trustee with Allan Marshall and Associates, feels in tough times, people need to prioritize, “Roof over your head and food on your table would be the most important things, so you should cover those things first. If you have to rely on a credit card to put groceries in your fridge, my concern would be, if you can’t afford to buy the groceries, you’re not going to be able to make the credit card payment.”

Marshall expects more people will be seeking debt advice beginning in 2023.

“Often times they usually tread water until they are past the holiday season and at that point in time they feel the crunch and have to make the decision about what it is they are going to try and do,” Marshall says.

But he adds there is no shame in looking and educating yourself about what options are available, “I’ve seen all kinds of people that have struggled, doctors and lawyers. Some struggle at different levels, and there should be no embarrassment whatsoever. Once you gather the information, you can make an informed decision on what would be best for you.”

With Christmas less than two months away, many people are stressing about how they are going to afford to put gifts under the tree.

“You want to be careful. Christmas is the most important season for a lot of people but it’s also a bit of a blip on the radar. People stress out and stress out all month, for basically a 45-minute glorious moment in the morning. Usually, by the next day, no one can remember what they got,” Marshall advises. “It’s about, utilizing the holiday season to get together with family and friends and if you can make cookies or make a meal. That’s the way you should try to celebrate it with small kids. Obviously, they have expectations for some kind of a Christmas holiday gift. But you should look around, see what’s available. There are bargain shops, and there are all kinds of stocking stuffers. Stay away from the brand new and the expensive products if you can.”