"Mistletoe, Wine, and Christmas Time" How often have you already heard this, and it's only November? A few I'll bet, but with Christmas seemingly becoming earlier to us each year, we will no doubt feel the need to get ahead with our present and food buying. We end up spending more than we should because of this, though. This is because the stores are telling us to buy our gifts now because they are decorated for Christmas and playing Christmas music. This means that by the time...
"Mistletoe, Wine, and Christmas Time" How often have you already heard this, and it's only November? A few I'll bet, but with Christmas seemingly becoming earlier to us each year, we will no doubt feel the need to get ahead with our present and food buying. We end up spending more than we should because of this, though. This is because with the shops full of decorations and Christmas tunes, the stores are dictating to us that we have to buy our gifts now, which will mean by the time December has come and gone. We would have spent more during the two months that stores have been decorated for Christmas.
This is not all bah! Humbug.
Personally for the occasion alone and seeing the kids faces when they open their presents on Christmas morning, as Christmas is a special time of year that for the day makes all the preparation and spending all worth while.
But that doesn't mean it's free, and in some cases it's more expensive than people can afford. Even with all the decorations and parties, Christmas can be hard on a lot of people. Instead of letting their kids and family down, they may turn to credit cards and store cards, which offer the promise of money.
Don't get me wrong, both credit cards and store cards can be helpful. This is true, but only if you use them in a way that helps you get the most out of them. If you're trying to decide between the two, my only suggestion is that you choose the credit card over the store card.
We all want to enjoy this time of year, so making sure you have everything you need and save money so you don't go into too much debt will make the holidays even more fun. So, I hope that telling you some of the pros and cons of credit cards and store cards will go a long way toward helping you make the right choices.
First, what's good about credit cards:
- Better interest rates than store credit cards.
There are a lot of offers out there that let you pay no interest for a while.
- Will keep your gifts safe after you buy them.
You can buy something now and pay for it later, but you only have to pay back what you've already spent.
Now, the bad things:
- Can make you spend more than you can afford to pay back, which means that your account will be charged interest.
- They can be hard on your wallet, especially if you pay late or go over your credit limit.
What's good about the store card:
- Your first discount, which is usually 10% off your first purchase, will save you money right away.
- As soon as you get the card, you can use them.
Disadvantages:
- Interest rates that are much higher than those of a credit card. Some of them can be as high as 30%.
If you don't pay them off at the end of each month, they can put you in debt quickly.
- Sold to customers by people who don't know anything about what they're selling.
