Tis' the season to be debt free
As we face the upcoming holiday season, merchants see dollar signs, and consumers face an endless array of opportunities to utilize their cash, or plastic. One of my favorite sources for financial advice is Suze Orman, and in her Holiday spending article, she tackles the issue of spending more than you make during the holidays. She mentioned some simple tips to help fight the urge to excessively spend. She brought up the recent policy changes that have raised the minimum credit card payment to 4% of the balance, which is twice what it was, and she also suggested that you simply only buy gifts that you currently have money to pay for. She also demonstrated how if someone used the equivalent amount of money that they would've been charged as credit card interest, and invested it, how much better off they would be. Suze's advice is very practical, and wise regardless of when you are purchasing goods or services, and if people could start incorporating these basic principles into their lives, the financial status for households, and society would be healthier as a result.