Be Merry & Don't Get in Debt - WALB.com, Albany News, Weather, Sports

Be Merry & Don't Get in Debt

Updated:

November 29, 2007

Albany - - It's a common problem this time of year, but financial experts say it doesn't have to be.

The Students in Free Enterprise group at Albany State University sponsored a forum to help students learn how to budget their money, especially during the holidays.

A Bank of America representative offered tips.  

"A lot of people get into major debt during Christmas. They go out of their way to buy toys for their kids or boyfriend, girlfriend, and friends. Then after Christmas they are $3,000 in the hole and don't know what to do," says organizer Alphonso Carr.

Students got handbooks to help them establish good credit. The speaker encouraged them to make payments on time and explained how important good credit is for buying a home and even getting a job.

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