MoneyWise Live


Avoid Christmas Debt with Neile Simon

October 22, 2018

Don’t look now but the Christmas shopping season is just ahead!  That’s the time of year when we throw caution to the wind and our budgets out the window even though some of us haven’t paid off last year’s credit card bills.  Millions of Americans will go into hock this Christmas but you don’t have to be one of them.  Financial planner and teacher Rob West talks with Neile Simon of Christian Credit Counselors on these topics about how you can avoid Christmas debt:

  • First, Neile Simon, acquaints listeners with the Christian Credit Counselors organization.
  • Why do you suppose people overspend so much during the holidays?
  • How do we avoid going into debt during the Christmas season?
  • If some listening who might already be financial trouble contact your organization, how can it help them?
  • What qualifies a person for help from Christian Credit Counselors?

Then, Rob takes your questions at 800-525-7000 on these topics:

  • If you have $28,000 in credit card debt, owe $350 in back taxes and might be getting a lean against your house for $1100 of taxes and are barely paying your current expenses, how can you get ahead of your problem?
  • If you've just come out of credit card debt and have been told to get a card for getting travel miles, should you go down that road?
  • If you save your change all year round, would it be a good idea to use that fund for Christmas presents at the end of the year?
  • If you've found that renting in your area is almost as much as a mortgage, have about $20,000 of liquid savings, no debt, what are some creative ways to get the 20% down payment?
  • If you currently have two properties - one your main home and the other an inherited home, and plan on moving to the inherited home soon, should you take advantage of the current real estate market and rent until moving time?
  • A listener calls to relate a story how taking MoneyWise Live advice helped her family.
  • What are the positives and negatives of making use of the "Student Loan Forgiveness" opposed to just continuing to pay the debt?

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Guest

Neile Simon