Need cash for the holidays? 5 ways to borrow money.

Forget sparkling lights and sugar plums. With rising prices on everything from food to clothing, you may be feeling the squeeze this holiday season. High prices are driving up expected spending: People plan to spend about $900 on gifts, food, and decorations this holiday season, according to the National Retail Federation.

Whether you need extra cash to buy gifts for your kids or cover the cost of travel to visit family, you may be thinking about borrowing money for the holidays. From buy now, pay later apps to personal loans, there are several ways to access funds without throwing your budget off track.

The holidays can be a magical time, but they also come with a lot of pressure to spend. Gifts, decor, meals, and travel can add up.

Ideally, you’d have money tucked away in savings to cover the cost. But if you weren’t able to save for the holidays, there may be a gap between your expectations for the season and your budget.

Although going into debt for unnecessary expenses isn’t recommended, some people choose to do so due to family pressure or simply because they want to create memories with their children. Regardless of the circumstances, here are a few popular options if you must borrow:

Best for: Those with a steady paycheck who need a relatively small amount to bridge the gap until payday.

A payroll advance allows you to access some of your upcoming paycheck early. You submit a request to your payroll department, and, if approved, your employer issues you a portion of your pay ahead of schedule. The amount of the advance is deducted from your next paycheck.

Employer payroll advances don’t involve interest or credit checks, though small administrative fees may apply. But taking a pay advance could leave you short of cash for necessities later, since your next paycheck will be a reduced amount. Also note that not all employers allow pay advances, or they may set limits on how many times an employee is eligible for one.

Best for: Those with reliable jobs who need a short-term way to get $500 or less before the holidays.

Cash advance apps, such as Dave, Earnin, and Brigit, allow you to get a cash advance on your next paycheck without the hefty fees of payday loans. With these apps, you can get a relatively small amount — usually $500 or less — up front. When payment is due, the app will deduct the borrowed amount from your bank account automatically on the agreed-upon date.

These apps don’t require credit checks, and you can use the cash advance feature more than once. They usually don’t charge interest, but you might pay membership, transfer, or late fees.

The catch? Cash advance apps can leave you short on money for future bills because the payment is automatically withdrawn from your bank account. If you come up short again, you may end up relying on these apps more often, creating a debt cycle that’s hard to break.

Best for: Those who need to borrow a larger sum but can afford to repay it within a few weeks or months.

With buy now, pay later (BNPL) apps, such as Klarna or Affirm, you can purchase items and pay for them in a series of weekly or monthly installments. These services are available through many major retailers, including Amazon, Walmart, and Wayfair.

You can finance large purchases, and depending on the service and your banking history, you may be eligible to finance items that cost several thousand dollars. Depending on the financed amount and the app, you could opt for a term as short as two weeks or as long as 12 months.

Shorter terms, such as three months or less, often come with no fees or interest. However, longer-term loans usually charge interest, and the rates can be quite high (some as high as 35.99%). Plus, these options require credit checks, so those with poor credit may not qualify.

Best for: Those with good credit who can pay off their credit card balances quickly.

Credit cards are one of the most common ways to finance holiday expenses. With a credit card, you have access to a revolving line of credit, so you can use it again and again (up to your credit limit). If you pay off the entire balance by the due date, you can also avoid interest. And some cards offer rewards on your purchases, so you can earn cash back, airline miles, or points.

With some credit cards, you can take advantage of promotional 0% APR offers and enjoy no interest for a limited time, such as a 12-month introductory period. This gives you time to pay down a larger balance without interest.

However, you usually need a good credit score to qualify for a credit card with a promotional APR. If you carry a balance, interest can accrue rapidly.

Related: How credit card points can save you hundreds on holiday gifts

Best for: Those with excellent credit who need a more substantial amount of cash

A personal loan can be an appealing option; you can borrow a lump sum of cash and repay it over several years. Personal loans usually have lower rates than credit cards, making them more affordable options. Loan amounts can range from $1,000 to $50,000 or more, so you can borrow a larger amount.

Personal loans are unsecured loans, so you typically need good to excellent credit to qualify for a loan with a competitive rate. Some loans have high origination fees, but those can often be avoided with the right lender.

Taking out a personal loan for the holidays is risky. While they’re convenient, you could end up in debt for years. Borrowing money for one holiday season could mean you’re still making monthly payments in 2030.

If you decide to take out a loan, compare quotes and loan options from several lenders to find the best deal.

Tip: If you need to take out a holiday loan, check with local credit unions. Many credit unions have special Christmas loans or seasonal credit options with lower annual percentage rates (APRs) than you’d find elsewhere. Find a credit union near you with the National Credit Union Administration locator tool.

Borrowing money can help you manage holiday expenses, but finding ways to free up extra cash or reduce your expenses is better for your financial health. Use these tips to cut corners this holiday season:

• Set a budget: Create a detailed budget for the holidays, listing everyone you need to buy gifts for, allocating money for decor or travel, and seeing just how much cash you have on hand to cover your expenses. Creating a plan before you start holiday shopping can help you stay focused and avoid overspending.

• Get a side gig: A seasonal side gig can be a great way to bring in extra income to pay for the holidays without taking on debt (or reducing how much you need to borrow). Wrapping gifts for neighbors, setting up decorations, delivering groceries, and pet sitting are all great side hustles.

• Rethink how you gift: The pressure to give expensive gifts can be significant, but it truly isn’t a requirement. When money is tight, be honest with family members and loved ones. Suggest alternatives, such as a Secret Santa gift exchange, or set strict dollar limits on gifts. Giving thoughtful, homemade presents or thrifted treasures can be a smart option too.

This article was edited by Alicia Hahn.