Matthew S. Dana quoted in article “Don’t Go into the Red on Black Friday”The Daily Courier 11/20/16
Below is an excerpt:
So, how can you avoid suffering from a debt hangover this season?
Build a budget – using real math.
“Create a budget and stick with it,” Dana said. “Before you start spending, do a little math and figure out how much you can afford.”
A general rule of thumb, according to Dana, is to use the “1.5 rule.”
“Don’t spend more than 1.5 percent of your total gross income on holiday-related expense,” Dana said. “If you’re already in debt, consider spending less than one percent.”