Black Friday is the best day to talk about the dreaded “B” word… Budget

By Terri Woods, Selling real estate in Santa Cruz, Aptos, Capitola, La Selva Beach, Watsonville, Pajaro Dunes, and North Monterey County

I know Black Friday officially begins tomorrow. Some stores are opening on Thanksgiving to get that jump ahead of the competition.

The temptation is to take advantage of all those great deals. BUT BEWARE. 

Did you know that the average household has a credit card debt of over $7000?  

Did you know that nearly half of Americans have more credit card debt than they have in savings?  

Did you know that over half of all Americans are accumulating debt faster than they are saving for retirement?  And this time is year is when many families increase that amount.

For those wanting to buy a home, an increase in debt may make the difference in your ability to buy and home in the future.

There are many Budget Calculators available online.  One that I greatly endorse is Dave Ramsey’s Christmas Budget Tool which will help you keep you on track while looking for those deals.

ONE MORE THING… When you do buy something, and approach the register, you may be offered to save 10%, 15% or even 20%+ if you open a store credit card. 

Though you might save up front, just know that in most cases, store credit cards are not good ideas.

I hope you had a Happy Thanksgiving and I wish you WISE SPENDING.