Last month we offered some tips to help your wallet survive Christmas. But now that the holidays are over, the credit card bills will start rolling in and the financial reality will begin.
Here’s a little Christmas Credit Quiz to see how you fared:
1) The average person spends $1,200 during the holidays on gifts, food and decorations. How did you do?
2) When paying by credit card, people tend to spend 112% more? Did you?
3) 6 million people borrow money to pay for Christmas. Did you?
4) The average American spends 40% more than they earn. Do you?
5) Americans average 13 credit cards per person. How many do you have?
6) One third of bankruptcies filed in March site overspending at Christmas time as the reason why. Will you?
It’s easy to get caught up in the frenzy of Christmas. You’re only human. We all want to give our loved ones a beautiful gift on Christmas morning. So much so that we have a pit in our stomach wondering how we’re going to pay for it. Then comes January and we have to figure out how to pay for it. But now you have to tighten your belt. Don’t ignore your creditors and make sure you keep up with your payments every month.
But if you find that you are in over your head and the hole you have dug is made of quicksand, then call Adams and Associates at 1-888-724-9860 for an appointment. One of our Miami bankruptcy attorneys will contact you to arrange a free, no obligation evaluation and all information will remain confidential. Take control of your financial situation today!