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Matthew S. Dana quoted in article “Don’t Go into the Red on Black Friday”

The Daily Courier

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.”