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Themis
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Paying Down Christmas Debt: How Long Will It Take - Mish - Global Economic Analysis

Why is there such an emphasis on gifts at Christmas in north America? Our family made a decision a few years ago that only children would receive presents. We get together with family and friends for a good, fun Christmas meal. I find the Christmas season, which is a religious holiday for us, so much more relaxed and enjoyable nowadays.

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Beginning of the headline :Consumers splurged this Christmas. GDP will rise. Hooray. But how long will it take for consumers to pay off their debt?MarketWatch, citing MagnifyMoney notes that Many People Blew Their Holiday Budgets. Shoppers in the U.S. racked up an average of $1,054 of debt this Christmas season — an increase of 5% over last year, according to a survey from MagnifyMoney, a personal finance website. It found 44% of shoppers racked up more than $1,000 in holiday debt, and 5% accumulated more than $5,000 in ... Read More

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