Financial Planners Warn Jonesboro Shoppers About Debt - KAIT Jonesboro, AR - Region 8 News, weather, sports

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Financial Planners Warn Jonesboro Shoppers About Debt

December 4, 2005--Posted at 10:45 p.m. CST

JONESBORO--Financial planners are reminding Arkansans this holiday season that money doesn't grow on Christmas trees. At Jonesboro, Michael Powers, a community affairs specialist
with the Federal Deposit Insurance Corporation, gave a group tips on how to understand credit reports and how to maintain good credit.

Powers says credit card holders who only pay the minimum each month don't realize that's the worst thing they can do. He says that means they are hardly paying back the principal while
throwing money at interest payments.

He advises shoppers to pay off as much as they can each month, to use control and stay within a
budget when shopping and to be realistic about their spending
habits.

(Copyright 2005 by The Associated Press.  All Rights Reserved.)

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