Many people who normally live within a budget during most of the year, throw caution to the wind during the holidays and spend much more than they can possibly pay back when the bills come due in January.
The tragic result is that interest charges start accumulating that often take months to repay, particularly when only a minimum payment is made.
Yes, it’s that most wonderful time of the year. And you can hardly be blamed for wanting to give, and to celebrate. However, such behavior, which is unfortunately the norm for many consumers, derails plans for achieving financial goals and objectives. It also causes a great deal of stress, all of which can be avoided.