12.22.09 | Student Debt After The Holidays
Hi all! Little Miss Platinum here. I don’t know about you, but it seems like every year I spend more and more money on holiday gifts. However, ever since I got my first credit card I have enforced a rule upon myself to never spend more than I can pay off at the end of the month… event during the holidays.
After Christmas it is very tempting to let credit card debt build up. It might seem like a good idea to only make the minimum monthly payment, but the total payoff amount will only continue to grow. When debt builds up interest builds up and you end up essentially throwing money away. I will be the first person to admit that giving feels good and we all want to spend money on our loved ones, but is is really important not to let your credit card debt spin out of control.
So this holiday season give modestly and spend within your means. Remember, no one would want you to put your credit score at risk to give them a nice gift.
ScholarshipPoints Bonus Code: HOLIDAYDEBT
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I don’t use credits cards, i prefer cash or debit cards. Is a good way to free of debts
December 28th, 2009 | #
You have to be smart about credit cards they can be very hard to manage.
December 28th, 2009 | #
You could always save up for the holidays. It is not like you dont know when they are coming.
December 28th, 2009 | #
good article
December 28th, 2009 | #
I don’t have a credit card but I heard that it is important to have a credit card when you go to college.
December 28th, 2009 | #
I like making gifts, the supplies cost less, and the gifts tend to mean more.
December 28th, 2009 | #
very nice article. very informative.
December 28th, 2009 | #
I do not have my own credit card yet – So I guess I am safe for now. Do I get a credit rating if I have an ATM card cosigned by a parent?
December 28th, 2009 | #
its hard not to spend tons of money around the holidays but everyone can make sacrifices
December 27th, 2009 | #
Great opinions & yes I know what she’s saying.
December 27th, 2009 | #
this whole christmas holiday ive been trying to save as much money as i can!
December 27th, 2009 | #
I only charge what I can pay & pay balance each month so I receive NO interest charges. I learned this from past experience.
December 27th, 2009 | #
I was tempted but really careful with my spending.
December 27th, 2009 | #
I’m already a thrifty shopper!
December 27th, 2009 | #
The holiday season is always a money spending time. If you have it, you want to spend it on loved ones to show your appreciation. What they don’t know is your bank statement afterward
December 26th, 2009 | #
I don’t participate in this holiday
December 25th, 2009 | #
It is a real problem.The season could be over tempting to spend too much money. Good planning in this time of the year is always helpful.
December 25th, 2009 | #
I had to get a credit card with Wells fargo, because of my new job at Starbucks:) To my surprise, I’m really good at managing my money. Before I go shopping I log on to Wells Fargo and check my balance, if I need to, I add more money from savings so that I do not get overdrafted. It literally takes like 30 seconds. So I never put my credit score at risk.
December 25th, 2009 | #
I just got a credit card because of my new job. To my surprise, I am very good at managing my money. Before I go out I always log on to my account with wells fargo and check before I go. It literally takes like 30 seconds, I can even pull more money out of my savings just to be safe. So this way I never put my credit score at risk:)
December 25th, 2009 | #
I Got laid off the day after thanksgiving and i really havnt got anything under my tree just a few thing for my family and i couldnt be happer right now, I am in school finaly on my way to getting this new job and i am just happ to be with my friends family and my boyfriend. debt for me with chrstmas
December 24th, 2009 | #
iam always like this i spent so much money for christmas shoping
December 24th, 2009 | #
i dont own or plan to own any credit cards
December 24th, 2009 | #
i get like this too. i’ve already spent at least $500 just this month for christmas shopping!
December 24th, 2009 | #
I don’t use credit cards to shopping,if I don’t have the money or can’t put it in lay-away I don’t buy it. I only use cash at the stors at Christmas time. That a easy way to get in debt over your head if you use credit cards.
December 22nd, 2009 | #
yes it is true, at this time of Christmas is very tempting to buy and more if you use one target, is very comfortable and people do not realize what they spend, and the accounts accrue and interest alike, is why I personally when I go shopping I assign a certain amount of money and I administer myself without going over
December 22nd, 2009 | #