Many of us will face the Christmas Financial Cliff in January (a little later than our friends down south).
The Christmas Financial Cliff occurs when all those Credit Card bills you forgot about during the Christmas carnage of shopping appear on your doorstep. You must then pay up.
How bad could this be? If you don’t have a solid plan in place and simply rush into stores or stay up late ordering pre-wrapped items from Amazon, you will overspend. This will force you to confront a difficult question in January: will you choose groceries or fall into credit card debt? It's essential to be smart and strategic about your spending.
The hard part about the Christmas Financial Cliff is that the fault lays solely on you (which makes things easier, doesn't it?). The reality is that raising taxes to boost your income isn't an option, yet you might resort to claiming you'll cut spending to manage your debts. Let's be honest—this is just an excuse that allows you to feel better about the situation.
You can thank Mrs. C8j for this topic!
