The holiday Season is here, the kids are in school, Football is back, hockey is … forget about hockey. Pumpkins, costumes, candy, turkey, and last but certainly not least, gifts. What a wonderful time of the year, what can possibly spoil all the fun?
Answer: Your Credit!
Beginning in October and rolling through the New Year, household spending drastically increases.
- Halloween requires candy, decorations, costumes, and extra cash if you’re going out.
- Thanksgiving requires turkey, a fancy feast, travel expenses.
- Every Black Friday promises to be the sale of the century, herding customers outside of their stores at ungodly hours of the night, shopping for everything from televisions to toaster ovens.
- Christmas requires gifts, a tree, decorations, and another fancy dinner.
- New Years Eve requires a party! Friends, drinks, hors d’oeuvres, possibly even tickets to an event or concert, and yes, yet another fancy dinner.
- But wait, there’s more. It’s cold, time to turn the heat up and hook up all of those icicle lights and holiday decorations. There goes your gas and electric bill.
This is the time of the year which credit card companies covet the most. Why? Because staring in October,credit card balances rise higher and higher, they bump against credit limits and even break through causing millions in fees and even more in increased interest rates. All in the spirit of FUN. But what’s fun about credit card fees, 30% interest rates, and crippling your credit score?
This is a time of year that many people look forward to, resist the temptation of blowing up your credit cards and ignoring your credit. You’ll thank yourself in January.