Tis the season to spend … and spend … and spend. Come New Year, all the spending can catch up to you.
The National Retail Federation estimates that consumers will spend $967 on holiday expenses on average this year. That includes $608 buying gifts, $218 for decorations and food, and $141 on other non-gift purchases.
This (often emotional) spending can have long-term consequences, according to the National Foundation for Credit Counseling. The group shared five reminders of what going overboard at Christmas can do to your financial health. They include your interest amounts, credit score and even your marriage!