It’s the holiday season which means bright lights and parties. It canalsomean an unusually high credit card bill.
From gift giving, to travel, to that item you just had to buy for yourself, end-of-year spending is up. Black Friday shoppers spent a record $9.8 billion dollars online this year. Shoppers spent a record $12.4 billion on Cyber Monday.
But not everyone is putting cash upfront. Buy Now/Pay Later usage hit an all-time high in November, with an increase of over 42 percent from last year, according to Adobe Analytics. And half of Americans expect to take on debt to pay for the holidays, according to the personal finance company Achieve.
What is the best way to deal with the rush of holiday expenditures? And how can 2024 be your year of financial wellness? Personal finance columnist Michelle Singletary takes your questions.
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