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5 Tips for Avoiding a Holiday Financial Hangover

The holidays are one of our favorite times of the year.  We get to spend time with family, and take a break from our work to catch a breath before the new year kicks off.  Unfortunately, this is also a time of year when many people will make poor financial decisions that lead to a holiday hangover that could last for years.

According to a recent survey by credit karma, over a quarter of Americans plan on going into debt during the holidays.  In other words, they intentionally plan to dig themselves into a deeper hole than they're already in with debt.  Some of the other key findings are listed in the table below.

What strikes us as most saddening is that 43% think that debt is unavoidable during the holidays and 22% are still paying off last year's debt.  Talk about a long hangover!

If you've been reading this blog for more than a minute you know just how ridiculous these statistics are.  Going into debt to buy xmas gifts is unavoidable? ...

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