One in 3 Americans have or are planning to take out a personal loan to cover holiday shopping expenses....That’s double from last year’s survey, the credit bureau said.
Come again? Is this really a thing? Having I been giving people far too much credit this whole time? I know racking up a huge CC bill around the holidays is the norm for a lot of people, but this is a new level of stupidity. Is this level of foolishness purely an American habit?
Americans are expected to spend $1,047 this holiday season and many more are financing it with loans. But experts worry that these loans, which come with high interest rates and additional fees, could make your holiday spending that much more expensive.
By
could the "experts" mean
will absolutely make your holiday spending that much more expensive. Also, something tells me on average people will spend more than $1,047 this year.
“If you’re going to have to pay interest on a loan to buy holiday presents, you're probably in a situation where you shouldn't be buying presents,” said Brian Boswell, a certified financial planner in Massachusetts.
Hopefully the author of the article misquoted Brian or accidentally misheard him say the word
probably