Finance 101: Preventing the holiday financial hangover

Mass Appeal

Mass Appeal – Spending. It’s what a lot of people have to do this time year. Whether it’s buying gifts or throwing parties, it’s best to have a financial plan so you are not feeling the effects of your spending after the holidays are over. Todd with Cambridge Credit joined us with some useful tips.

Todd suggests not using credit cards for purchase unless you are prepared to pay the balance in full, otherwise you will end up paying more for your charges with interest, etc. Todd also warned against taking cash advances against your credit cards.

Department store credit cards that offer appealing discounts should also be avoided. They have extremely high interest rates and unless you can pay it in full, should be disregarded. If you are looking for some savings, Todd suggest waiting to shop, because retailers will take discounts closer to the holiday.

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