Smart Chicago Shoppers Sticking To Cash Rather Than Credit This Season

Despite the constant barrage of tempting holiday sales and specials, it looks like cash-strapped Christmas shoppers are holding their own against retailers, according to Chicago bankruptcy attorneys.

Statistics show that fewer consumers used credit cards for post-Thanksgiving shopping this year than ever before. Use of several major credit cards fell by 11 percent this season from just a year earlier. It seems that we might finally be getting the picture that this year's holiday gifts aren't worth paying for next year...and the year after that, and the year after that.

Not that retailers are going to give up without a fight.

They don't just want to convince you to shop in their stores; they'd prefer you do so with a store credit card. Why? Because if you're anything like most Americans, you won't be able to afford to pay your bills all in one piece - meaning stores will make extra money off the interest they charge you. It's exactly how major credit card issuers like Visa and MasterCard make their billions.

Fortunately, many of us are realizing that the only way to start saving money is to stop adding to debts from years past. After all, no sales price is worth years of suffering. By refusing to pay with credit, we also refuse to pay interest - and that keeps our debt from growing. That's the first step to financial freedom.

So what's the next step? How about eliminating debt altogether. If damage done during years of credit card use is keeping you a financial prisoner, bankruptcy can set you free. Interested in whether filing a bankruptcy case has the ability to lower your payments and prevent foreclosure? Find out more for free with a personal debt analysis courtesy of a Chicago bankruptcy attorney

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