It's that Time of Year

How did you fare at the winter sales? If you went mad on the credit cards, will you be able to pay them off when the bills come due?

If not, you’re not alone. After the Christmas and New Year sales, many shoppers experience a financial hangover that a couple of aspirin will do little to cure. According to the 7 January 2006 Guardian, one person in eight has no idea how to pay for the festivities once the whole thing is over.

As a matter of fact, fully two million people who used credit cards to Christmas shop for 2005 were still paying off their Yuletide bills from 2004. I’m sure it’s even worse this year… one clothing and lifestyle accessories store in the Southeast had a queue more than a mile long when they opened on Boxing Day at 5am. They had to call in extra security when they unlocked the doors.