Luckily I didn’t go into debt too bad this year and I don’t think I am paying for anything that I got for Christmas now. I did use money I was wanting to spend on other things and now I am having to wait to get more money, but I have no credit card debts or things like that. I know some people will go into debt so bad on Christmas, they are still paying for it when the next Christmas rolls around.

I think a lot of people fear the economy that we are in right now and took it easy this Christmas. Others just didn’t have the money to spend on Christmas, due to the fact we have to pay so much more for gas at the pumps. I know my buddy Jim Cramer from CNBC says that we are headed for a recession. He’s the smartest man on Wall Street and he’s probably right.

I hope that too many of you didn’t go into a large hole this past Christmas. If you’re in debt right now from Christmas, get out now and earn the money to finish paying it off. The summer of 2008 could be a bad one for our country economically. I think a lot will hinge on the gas prices this summer at the pumps.