St. Valentine’s Day Financial Massacre

Today can effectively be for some of us effectively a recreation of the St. Valentine’s Day Massacre, in terms of our Credit Cards.

This one is an interested twisted tail to follow, so I’ll try to not wander down too many dark alleys, but it is this simple, right about now (February 14th) the Credit Card bills are arriving for the stuff you bought after Christmas (or stuff that didn’t make it into your Christmas bill, which would have shown up in January).

How bad could that be? Who spends lots of money after Christmas? You do!!

RRSP, RESP, RDSP

Valentine's Day Sentiments to Live By

Remember that big screen TV that you got for 40% off at the Boxing Day Sale? How about all that stuff that was on sale for Boxing Week/Month/Quarter? There is a tremendous amount of money spent after Christmas, and you might have planned for your Christmas spending splurge, but did you plan for your January spending binge? My guess is no (and if you didn’t have a post-Christmas spending binge, good on you (but are you sure?)).

In my house my daughter’s tuition appears on my Credit Card (we still have money to pay that off so that is good), but it is a HUGE number to appear for St. Valentine’s day, isn’t it?

Oh and all those, “live now, pay later” deals you got from the Furniture Mega-Store or the Electronics Mega-Store all have to start getting paid off now too. Future Shop’s new “don’t pay for 3 months” has a new catch, yes, you don’t have to pay it all in 3 months, but now you have to pay at least 1/3 every month leading up to the payment.

Are you now feeling the effects of a Saint Valentine’s Day financial Massacre?

{ 4 comments }

{ 3 comments… add one }

  • Joe February 14, 2012, 9:46 PM

    Nope. *crosses his fingers for when he has grown children*

    Reply
  • Jeremy @ Modest Money February 14, 2012, 5:58 PM

    I’m normally really starting to feel the financial pinch at this time of year. My girlfriend’s birthday is right in between Christmas and Valentine’s Day which adds to the mess. Luckily for my finances, we recently broke up. It makes V-Day a little lonelier, but sure eases the financial burden.

    Reply
  • retirement planning February 14, 2012, 3:03 PM

    Although I did not spend too much from Christmas, still I feel the pinch from my last credit card bill. All the little gifts and food added up. I think one of the reason people do the “buy now, think later” is because of our refund system.
    Think about it, if nothing can be refunded, people will buy more cautiously.
    So the question is: is the refund system good or bad?
    No matter what, we should do better financial planning and prepare for our retirement. How much you safe now is how much you enjoy later in your retirement.

    Reply

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