Most Americans Made Poor Financial Decisions This Holiday Season

The holidays are supposed to be a time of joy, but for countless Americans, they're nothing more than a period of stress and regret. And part of the reason is that many of us make poor financial decisions this time of year. Nearly one-third of Americans took on credit card debt to cover their seasonal spending, according to a new COUNTRY Financial survey. Not only that, but 18% of consumers withdrew money from savings to afford their gifts.

There's no arguing that racking up debt is a dangerous practice, but you may be wondering: What's so terrible about taking money out of savings to pay for holiday purchases?

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Source: Fool.com