A B.A.D. day for Canadians with holiday debt
Posted Jan 15, 2015 7:55 am.
This article is more than 5 years old.
Are you finding it hard to look at those holiday bills that have started rolling in?
January 15 has been declared Bill Avoidance Disorder Day by Consolidated Credit Counselling Services of Canada.
Executive Director Jeff Schwartz says putting off your bills can mean higher credit card rates and impact your credit score, so it’s better to deal with the payments right away.
“During the months following the holidays you might want to think about living lean and hibernate and put that credit card away for a little while so you can save some money and apply that money that you saved by paying off the debts,” he said.
Schwartz says look at your statement and use it to plan ahead, and put money away for next year’s holiday spending.
Last year at this time, the average holiday-related debt for Canadians was $963.
