month. I just got a notice that one of my cards is going above 21% interest. My credit score is about as high as it can be, so that isn't the issue. If you're paying 21% interest on any substantial amount it adds up very quickly. Fortunately, I pay it off every month so the interest rate won't impact me at all.

Some years back, I went through a little bit of an economic dip. And we started carrying a balance on our credit cards. The debt climbed and my wife became alarmed. She signed us up for a couple of cards that allowed for a balance transfer with no interest on the balance transfer for a year (maybe it was even longer). We worked on paying down the balance transfer amounts and had them paid all the way down before the interest kicked in.

There are some necessities worth going into debt for. Beyond that, life is much happier without debt. This time of year people think they need to get elaborate Christmas gifts and spend a lot of money. If you don't have the money, don't spend it. Christmas can still be joyous and happy.

*gwalker steps off his soap box*