Less than a month before Christmas and a licensed insolvency trustee is urging people against relying too heavily on their credit cards ahead of the holiday season.
Today is Cyber Monday, one of the busiest online shopping days of the year.
President of BDO Nancy Snedden says while many people have no choice but to use their cards, she’s encouraging people to think about how those bills are going to get paid.
She says if you spend $1,100 on your credit card for Christmas, and only make the minimum payment to pay it off, it will take you 11 years and another $1,100 to do so.
