Nobody likes a hangover, plain and simple. In addition to the physical ailments that plague the body comes the feeling of regret, and the fact that you know you’ll be paying for the night before for a good portion of the following day. Ever heard of “debt hangover”? If not, it’s because Casey Bond, managing editor for GoBankingRates.com, coined the term, referring to that feeling not unlike buyer’s remorse where, come January, you find yourself up to here in credit card debt from some serious seasonal overspending. Fortunately, Sacramento Bee journalist Claudia Buck has some advice to avoid the hangover debt long before it ever begins. Check out her recent article with ten tips for holiday shoppers:
“Then Black Friday, which tumbled right into Small Business Saturday. And then? It was Cyber Monday. And it’s only November. With that in mind, here are 10 tips to keep your holiday shopping season a little more jolly and a lot less jarring on the wallet.
1. Makin’ a list: One of the best ways to avoid overspending is to write down a list of everyone you want to give to, from your kids to your haircutter. Decide what you can comfortably spend for each person.”
Click here to read the rest of Buck’s sage advice to shoppers this season.
Sure, swiping that shiny plastic credit card feels great in the moment. But when the painful sting of remorse and high interest fees hit you in January, it doesn’t feel so good. Not even close. Be shop-conscious this year to avoid some serious credit damage later on!