A week to prepare

One week from today is when retailers in the American economy have traditionally made their annual transition from red to black in their bookkeeping. That is, they finally turn a profit for the year.

They do this by luring customers into their stores and into buying now and paying now or later.

It's that later part that can be especially tempting and damaging to one's personal finances. Debt is based on lies and is to be avoided.

Take a good hard look at your finances and outlook for the next year now before the spending temptation hits in earnest next week. Make sure you're leaving room for existing commitments before spending money that may be needed later.