Has Christmas become synonymous with spending?

Say 'Christmas' and people across generational lines think 'presents'. Christmas is a birthday celebration after all. The Magi brought the baby Jesus gifts of gold, frankincense and myrrh. Today, the real message of Christmas gets lost amid a flurry of activities that include shopping, putting up decorations, parties, homecoming visits and more shopping that all come to an end the day after Christmas (or some time thereafter). There are lots of wonderful memories for sure but in its aftermath most people are saddled with debt.

Oh, the convenience offered by a credit card... just lovin' it! You are satisfied. You got your wants and needs covered without shelling a dime. Do you realize that you now have a loan that must be paid back in 30 days? You don't have to but if you do not pay the full amount due, the finance charges can quickly throw you into a pit that is designed to make it difficult for you to climb out.

Be smart and shop for the lowest APR on credit cards. The annual percentage rate (APR) is the cost of credit on an annual basis expressed as a percentage rate. When stated in dollars, the finance charge is the total dollar amount shown on your credit card statement and includes interest and other fees. Interest is the price you pay for using the credit card company's money. Here are a few tips:

1. Use no more than 28% of your credit limit
2. Read the terms of your credit card agreement
3. Minimize the interest costs by paying as often as allowable within the billing cycle
4. If you are not able to pay the full amount due and must carry the balance forward, do not make any additional purchases until the balance is paid in full.

The new Card Act that was signed in 2009 provides credit protection for consumers. The highlights are on page 58 of Destination Points - A Values Driven Journey available here http://www.viacompass.com/financial_stability/limited_copies_-_order_today

Take charge - don't spend money you don't have!
http://www.viacompass.com/