“While bargain hunters earnestly believe they’re saving money by buying discounted goods,” explains Ms. Calonia, “the savings falter once credit card interest rates are calculated into the equation. Shoppers who fail to keep their shopping under control can easily get carried away with the hype surrounding consumer-driven events like Black Friday.”
In her feature, Ms. Calonia demonstrates how seemingly harmless holiday purchases, like a bicycle or iPad add up in terms of credit card interest rates over time, and their dire effect on shoppers’ wallets after hundreds of dollars in interest racks up.
While her investigation cautions against over-using credit cards as a method of payment, Ms. Calonia supports credit card use as long as two specific rules are maintained by holiday shoppers.
Employing the conventional credit card practices that Ms. Calonia encourages helps consumers avoid the mounting credit card debt so many Americans face in the month of January.
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Jennifer reports on personal finance, with a specialty in saving money, budgeting and lifestyle. She is available to comment on any of these topics and can be reached via e-mail.
About Jennifer Calonia
Jennifer Calonia (https://twitter.com/
Her work is featured in major publications like US News & World Report, Yahoo!, Yahoo! Finance, LearnVest, Business Insider, Can Do Finance and Consumerism Commentary. Jennifer’s next project, a column called “Breaking Up with Debt”, is scheduled to launch late-November 2012.
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