MINNEAPOLIS – The National Retail Federation says Americans will spend around 980 billion dollars this holiday season. We’ll wait to see how much of that ends up on credit cards as debt.
University of Minnesota Marketing Professor George John says to come up with a budget before you hit the stores and keep an eye on your limits. Otherwise, you may pay for it for many months after the holidays.
Professor John also says to be careful using credit cards, and make sure you know the interest rate for your accounts. Some of those cards now carry interest rates of 30 percent and more.
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