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With Christmas
only days away, many people who have not made all their
purchases may feel a seasonal kind of pressure, not only
to buy but to overspend. Christmas is not the only time
it is tempting to spend beyond our means; after-Christmas
“bargains” can also play havoc with our budgets.
Research indicates that one in 20 Americans have trouble
controlling their spending and that the average American
has five different credit cards. Here are some warning signs
that you may be a shopaholic:
1. You spend more when you’re emotional. Do you spend
money when you are blue? Does buying new clothes make you
feel better and do you spend excessively to make yourself
feel better? If your answers are “yes,” then
you may have a spending problem. Like people who eat when
upset, you are at risk for larger issues and need to find
a less costly way to deal with your feelings.
2. Your spending habits result in added stress. Excessive
spending causes debt and with debt, comes phone calls from
creditors, lowered credit scores and in some cases, bankruptcy
and marital problems.
3. You can’t live without credit cards. The average
American household has more than $8,000 in credit card debt.
If you tend to overspend, try using plastic only for emergencies.
When we pay for something in cash, the outlay seems more
“real.”
If financial concerns are causing stress, don’t suffer
in silence. Try an anxiety and mental health support group,
seek help from a reliable financial adviser or you may find
help at your church or place of worship, but don’t
try to cope with stress by smoking, drinking or overeating.
In order to get out of debt, you need to know exactly how
much you are carrying and at what interest rates. Then you
may be able to negotiate a lower rate or look for a card
with a lower rate that will allow you to transfer the balance.
Make sure you pay off the balance before that introductory
rate expires, and then cancel most of your cards, keeping
only those with no yearly fees and the lowest interest rate.
If possible, pay off every card by the due date and avoid
all interest charges.
If you are still looking for inexpensive gifts for friends
or family members, an analysis of the most-requested gifts
by seniors, compiled by Home Instead Senior Care, include:
- Gift certificates to restaurants and grocery stores
- Hand and body lotions and shower gels
- Robes and slippers
- Books and magazine subscriptions
- Puzzles and games
- Chocolates and hard candies
- Stamps and stationery
- Gift certificates for services
Gifts that show thoughtfulness and care in the choosing
are what makes them special and appreciated.
Jean Cherni is founder of Senior
Living Solutions, a retirement advisory service. Contact
her at jeancherni@sbcglobal.net or 15 The Ponds, Branford
06405.
H. Pearce Company REALTORS®
is a full-service real estate company with more than 100
agents and branch offices in greater New Haven and the Shoreline.
Corporate and & Commercial offices are located in North
Haven, where the company was founded in 1958. All listings
can be found in color on the web at: www.hpearce.com. |
