Holiday Nightmares

People might think that holiday seasons is the best time of the year - but many didn't notice that holiday season might bring you nightmares - financially that is!

It's true that people enjoy the holiday seasons - but they did not take into account that the household expenditure would shoot up sky high.

Holiday shopping brings bargain hunters and retail outlets together to fight it out over the once mighty dollar. As always, there are winners and losers in this economic game.

What about those consumers who did not break their holiday spending budget? Did they win? Well if they shopped using cash, checks, or debt cards, then yes, they are the winners. However, if their spending budget was based on the fact that they could charge their purchases, and make small monthly payments, then they too are losers in this game. Interest on the debt built up over the gift giving season can easily break anyone's budget. Most people do not stop to calculate the interest paid on specific purchases, and the banks will not help you do this.