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We know that a lot of folks were out shopping already for the holidays and are you finding yourself already a little short on cash apps it is possible the amount you're shelling out on -- is not appropriate for what you actually hurt.
So in today's take charge consumer protection segment we wanted to take a look at your budget and if you don't have one hopes you should.
Joining us now financial expert John -- author of master of your debts.
Or maybe don't have been in Jordan but if you do which most of us do.
Welcome to you thank you for being -- get the right time of year serve first question cash or credit.
Whether pros and cons of each cast there's no fees involved and you know exactly how much -- gonna spend and there's a temptation to spend a little bit less if you're doing cash.
Credit the advantage of it as a -- paid off from -- -- getting frequent flier miles of building up your credit record by using credit.
So if there's pros and cons of each but more people are using credit these days particularly debit cards have been -- -- credit cards being used more.
In January we can get together and talk about how everyone overspend -- they should do at that point credit counseling -- will put up some web sites that are helpful in that area but.
You say avoid when you go into some of these stores and they say will give you ten or 20% off on your purchase if you open up a store credit card why is that it's a savings.
Well the savings and if you pay off -- -- that's fine but the temptation is to.
Get the ten -- 20% on the spot and that's gonna hurt your credit record okay so what's gonna happen is if you have a lot of inquiries -- your credit report -- quickly.
That's going to mean you're gonna end up paying higher interest and hurt your credit score -- when he points every time so.
He really nurture if you go too wild and sign up for all these things -- a lot of people do this season.
Do we know your credit report comes into play a lot of things sometimes employers can look at it may want to home loan at some point how so.
Do you advise people to say no to a purchase well you haven't have to have an overall budget going -- holiday season as saying this is how much -- gonna -- As you spend that take it off the list and if you're down there the -- -- -- that's that there are you cannot go further.
Very tempting when you get to the malls the music in the sounds and the smells the whole thing -- lose your financial sense.
Something like 40% of the people last year took till July to pay off the Christmas bills with -- of the money.
Of course is extremely very high interest -- 2925%.
If you can't pay the bill becomes a January.
Now the web sites we're gonna talk about if you do get into trouble let let me just give these quit their first -- -- credit ratings dot com it's card ratings dot com actually.
Card ratings dot com helps you get lower interest credit cards.
And -- there's loads of deals out there you don't have to pay trying to present something like that can do that.
Right there's Cambridge dash credit dot or we can help you if you over -- and consumer recovery network dot com.
But basically how can people find information online or otherwise to develop a budget this season by the lots of life -- together a budget that the basic thing is to have some discipline which -- -- -- people don't have -- if that happens in this plan.
With a -- just mentioned there.
They can help you consolidate your debt into one payment at a lower rate.
You can't get under on Cambridge credit dot org for example.
Can get -- raider like six of 7% that you can't possibly get.
If you try to negotiate with a credit card companies directly concerned non profit -- group.
But we -- -- help people avoid having that load that credit load in January so up in terms of actually sitting down a budget are there things you recommend they cut out of their spending right now so they can afford I think we're on the frivolous stuff effect and possibly -- -- the so called latte factor right you're gonna right.
The Starbucks and how volleys fancy things if you take some of that money that's kind of relatively frivolous.
And concentrated on the prices we really want to go -- for presence is the time of the year.
To do that I think that's best week ago.
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