Christmas is coming: don't make yourself a slave to money lenders

Christmas is coming. We all end up spending a little more for gifts, decorations, donations to charities and many other things. However, let's not make ourselves slaves to the money lenders. While this is good advice any time of the year, it is especially true at Christmas when we tend to go overboard and too often create a large amount of unnecessary personal and family debt.
The credit card companies and banks make it too easy to spend, but it's the lender who has to repay the loan at the very interest rates. The loan providers like the banks make more money when the borrower doesn't repay the entire loan, and pays only small amounts each month. Nevertheless, the interest must be paid on the total amount not paid back and this can add up to large sums.
A specific loan cost will be based on the balance, the payment and the annual percentage rate. The time it takes to pay off a credit card loan depends on the balance, interest rate, and one's monthly payment. A small, consistent payment …