Holiday Debt & Regret: How to Avoid it

Hey Credit Heroes!

Did you know that 25% of Americans regret their holiday spending?

Every year, consumer spending peaks during the holidays, followed by a surge in holiday debt, as 41% of Americans finance 90% of their holiday spending with credit cards.

Now, you know that I’m not a fan of credit cards and that I don’t use them. But they’re a big part of our industry, and we need to address their impact. Good and bad!

When used responsibly, credit cards are a convenient way to build your credit profile, and they can provide quick financial relief when in a pinch. But when used on items you don’t need or can’t afford, credit cards can be a fast track to financial ruin…

So, with the shopping season around the corner, today's episode will be all about the dark side of holiday shopping, why it causes so many credit issues and what you can do to avoid it.

Tune in and say goodbye to holiday regrets!

Key Takeaways:

Intro (00:00)
Holiday Debt Statistics (00:45)
Consumer Behavior during Economic Crises (02:04)
How Holiday Debt Impacts you? (03:43)
How long does it take to pay off Holiday Debt? (05:17)
Three Secrets to avoid Holiday Debt (08:47)
Facebook community spotlight (12:08)
Outro (14:34)

#DanielRosen #holidaydebt #holidayshopping #creditcard
#credit #badcredit

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[mberrynunez]

Excellent video, very informative and very well presented! Thanks for all of the support that you provide to the CRC business owners. Happy Thanksgiving and keep changing lives!

[yournextlevelsecrets]

This was a great reminder about getting on top of finances, but more importantly: spending discipline. Thank you!