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Credit Card Debt

Use the S.Y.S.T.E.M.
February 28, 2017

There is nothing more painful than getting that Christmas shopping credit card bill in January, and not knowing how you will be able to pay for it.


T is the Season. It’s The Most Wonderful Time of The Year!  I LOVE  Christmas. Literally, I am just like a kid to this day on Christmas.  The Christmas Season tends to bring out the very best of mankind.  People tend to be in a very giving and kind mood the month of December.

It is priceless to see the face of a loved one when you have made their dream come true for that special gift they have had their heart set on for months.  I know that feeling.  My wife and I have raised two beautiful daughters now 28 and 25 respectively.  On the contrary, there is nothing more painful in January than getting that credit card bill and not knowing how in the world you are going to pay it.


Let me encourage you to utilize the following tips this holiday season:

  1. Make a budget.
  2. Stick to the budget.
  3. Manage the expectations of family members and loved ones.
    Be honest and let them know what is affordable and attainable this Christmas season.
  4. Shop for deals They are there to be found.

Cyber-Monday set a record this year with over 2 billion in sale.  Just hope you got deals before you laid the down the plastic. It is so important that you make and stick to the budget for family members and loved ones. If at all possible, pay off the bill as soon as it comes.  Do not get stuck paying the minimum payment on a bill in December next June or July.

According to, the average credit card rate in 2016 was 15.18 percent.  However, some credit card companies charge as much as 30 percent to high-risk cardholders.  Take a look at the following scenarios:

  • $1,000 payment of $25 a month at 15.1% interest rate = Paid off in 4.6 years,  $350 interest.
  • $1,000 payment of $25 a month at 23.64 % interest rate = Paid off in 6.3 years, $875 interest.

Shop responsibly, enjoy the Christmas season, and avoid the credit card blues in the New Year.

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