How to avoid the pitfalls of financing your holiday shopping

Estimated read time: 2-3 minutes KEY TAKEAWAYS

Utahns are warned against deferred interest and high-interest store credit cards.

WalletHub analyst Chip Lupo advises creating a budget plan before holiday shopping.

Buy Now, Pay Later options are popular but can incur penalties if payments are late.

SALT LAKE CITY — Holiday shopping is in full swing, and Utahns are looking for deals. But some of the deals offered up at the register could cost you hundreds, if not thousands, of dollars if you're not careful.

You've likely heard the pitch, "Zero interest for 12 months!" Careful!

"You've heard the saying, 'day late and dollar short,'" said WalletHub analyst Chip Lupo. "This really applies to deferred interest."

WalletHub has found that 51% of Americans think deferred-interest financing s