Holiday temptations and credit card bills
This is a tuff one for us all, the dreading temptations when buying the perfect gifts. Everyone start with a budget or a plan when it comes to our holiday shopping. The problems that we have are that 98% of us never stick to it and we over spend. It is in our holiday spirit to give to all of our loved ones, but to what extend are will willing to go? Keep in mind that the people around you will care for you just as much if you are not able to spend a bundle this year. Understandably so, we all want to please our loved loves, but being cautious when it comes to the way that we spend will be a financial gain in the end.
Credit cards seem to be the biggest problem for most consumers when it comes to the holidays. The more troubling aspect is that most consumers see their credit cards as a welcomed way to purchase their gifts. This is in no way a good move financially. What the consumer must realize is how the interest rates actually work when they spend. When deciding to purchase a gift with your credit card you will be harming your budget as well as your credit score. It does not matter how big or how small the purchase is when buying it via credit card the consumer is paying anywhere from three to four times as much for the item. If you buy a gift for five dollars you will be paying ten, if you buy an item for twenty dollars you can be paying forty to eighty dollar for it due to the interest. At first it may seem like a good idea until the bill comes and it is time to pay. This will also affect your credit score at maybe your interest rates as well.
Finding another way to buy gifts or show your loved ones that you care will be a smarter way to save yourselves unwanted debts. Start with being creative, everyone likes gifts that were made with care, this is also very rewarding for you. Gift baskets can be very inexpensive because you buy in bulk and make many gifts out of the purchase. If you go to the ninety nine cent store for stocking supplies and you will save a lot of money. Another way is to buy one gift for a couple instead of two separate gifts. Examples would be gift certificates or dinner for two gift certificates. Remembering that the holidays are for spending time with loved ones, not driving yourself into the poor house. Be cautious with credit card debt.
