Community | December 05, 2007 | 8 comments

Consumers To Pay Holiday Debt Faster

source: http://www.reuters.com/article/domesticNews/idUSN0560215120071205

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Scott_Bromley

http://www.reuters.com/article/domesticNews/idUSN0560215120071205

It looks like most American's are actually planning on paying of their holiday debt in a timely manner this year. In fact, three out of four are planning on paying their debt within the first three months of 2008.

The survey also finds that more than half of consumers are turning to cash or their debit cards for their holiday spending.

How are you paying for all of your holiday goodies this year?
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    Finance,  Holidays,  Debt,  Consumers,  3 more
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8 comments // Consumers To Pay Holiday Debt Faster

  • LateForLife
  • Ro_Lew
    • 0
      Ro_Lew  

    • I won't be dumpster diving, but it will be a frugal holiday season. Coupons, sales and Online bargains will be key. I will be using my PayPal Debit card for most gifts this xmas
      From: Ro-Lew
      To : You
      Have a blessed and safe holiday season.

    • 5 years ago
  • zkaboli
    • 0
      zkaboli  

    • The scary thing about this article is that it already assumes that Americans will go into debt during the Holidays. Which is a good assessment, judging from previous years, but makes it seem "ok" to go into debt.
      It took me years to recover from student loan and credit card debt and I have been debt free for over 5 years now. I only have one credit card I use and I get points for hotel stays and I pay it off immediately. No finance charges - which are highway robbery! Consumers need to scale back their spending if it's going to make them go into debt. No other country in the world puts so much on credit cards. At the end of the day, those credit card companies are reaping all the profits.

    • 5 years ago
  • twodee
    • 0
      twodee  

    • Very wise mr. nordby7. The other good thing about using your credit card (and paying it off!!!) is that you will build a strong credit over time. A good credit rating is more important than ever these days with the mortgage industry having a little freak out. Be patient and wise with your credit and it will help you in a BIG way when you go to buy a home. cheers.

    • 5 years ago
  • nordby7
  • mattbrawn
  • Tori
    • 0
      Tori  
    • Image

    • I pay with a credit card for everything that I possibly can. First, why wouldn't I get airline miles if I can. Second, my card sends me this nifty year end report that breaks down my spending by category, which I find interesting and useful - it's like a pretend budget for me.

      But if you're low on cash this year, check out the link for a sweet list of gift ideas.

    • 5 years ago
  • Swiyyah
    • 0
      Swiyyah  

    • Check out this pod:

      "Credit card debt can be hard to keep a handle on. What happens when it spirals completely out of control? Jay Bennett had to declare bankruptcy to dig himself out. This is his story."

    • 5 years ago

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