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Financial Literacy Month blog

We hope you enjoy reading some of our thoughts as we join you on the path to financial wellness and we encourage you to yours. If you would like to follow our path on a more micro-level, we will be using twitter to chronicle our days.

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The holidays come every year—whether you’re ready or not

Posted by Kim McGrigg on 4/20/2008

I’m going to pick on the holidays for just a minute. In many households, the magic of the holiday season fades as soon as the bills start to arrive. For years, Money Management International, my national nonprofit credit counseling organization, has seen substantial increases in the number of clients who come in for help during February and March.

According to the National Retail Federation, the average American spends more than $900 on holiday related expenses. And, just as the holiday bills become due, another festiveless season approaches—tax season. Unfortunately, credit cards are often used to pay for both.

Both holiday and tax debts are periodic, meaning they are not part of regular monthly expenditures. In that regard, they join the ranks of other expenses such as auto registrations and vacations.

So, I am going to do everyone a favor and let you in on a little secret: THE HOLIDAYS ARE GOING TO COME AGAIN THIS YEAR!!



Don’t say I didn’t warn you…
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