Speaking of Christmas decorating and getting into the holiday spirit, I am just putting my foot down that I will not incur ANY debt just because I want to buy gifts for Christmas or decorate the house. I do not want to start the new year in debt. I guess that is where most people make mistakes, right? They are too caught “trying” to get the holiday spirit by purchasing gifts and spending that they even apply for loans to get money. Most banks nowadays offer personal loans to employees with good credit standing. While I don’t negate the fact that personal loans are better than secured loans, I believe applying for one is for extreme emergency cases only – like confinement to the hospital, kid’s tuition fees. I do not consider wedding expenses essential. If you are really strapped for cash and there is no other way, getting a loan is the way to go. But as always, it is better to be prepared for anything – in short, we need to learn how to save.

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