We alluded to this in one entry yesterday, and now we learn that this post-holiday period is officially known as the debt hangover time of year.
Does this sound at all familiar to you?
I bought all kinds of stuff — you name it, I bought it — for my daughters, for my grandchildren, for my friends,” said Gilbert. “I wanted a good Christmas for them. I figured I’d pay the cards off later.
Depending on your situation, you may need to substitute “daughters” and “grandchildren” with “girlfriend/boyfriend” and “friends”, but you get the idea. Most of us are prone to overspend.
Is it just a holiday related problem? The experts say it’s not.
I believe that many people who overspend at the holidays overspend all the time.
The article goes on to emphasize how you need to have a budget and how it’s a good idea to examine your spending patterns. It’s a pretty good read, especially for a newspaper article.
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