Can You Afford to Blow an Entire Paycheck on the Holidays?
It's no secret that, generally speaking, Americans aren't exactly on top of their finances. Not only does the average household carry roughly $16,000 in credit card debt, but most adults don't have nearly enough savings on hand to cover a financial emergency. In fact, 57% of workers have less than $1,000 in the bank, while 39% have absolutely nothing to fall back on at all.
It therefore stands to reason that many folks should think long and hard about keeping their holiday spending to a minimum this year. Yet a new GOBankingRates study reveals that the majority of consumers expect to spend an entire paycheck on the upcoming holidays.
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Source: Fool.com
