Cyber Monday 2008: Paying the mortgage and holiday spending

With the holiday shopping season well under way in America, with the start today of the huge Cyber Monday Sales, and last week’s Black Friday kicking off the shopping frenzy, you are still advised to watch your dollars, with the United States on the brink of recession and other countries around the world amid an economic downturn, avoid pushing yourself further into debt by purchasing goods that you do not need.

You should check the Cyber Monday Sales on-line and just buy what you feel is a necessity purchase even if it does have a huge saving. Also if you are paying for your goods on a credit card make sure you are aware of interest rate your credit card will be charging you, it may mean that your discount is eaten up with your credit card charges.

Remember that equity in your home is reducing during this housing slump, to re-finance and pay for your holiday spending using your home equity may not be a great move right now, if the house prices continue to fall you could find yourself in negative equity.