Before signing up for your first credit card, you should take the time to educate yourself on the basics. Understanding the terms and conditions of your credit card, how debt and credit usage affects your financial security, and the overall pros and cons will help you make wiser decisions when it comes to swiping that plastic.

As your credit score improves and your salary increases, credit card companies may reach out and extend your credit limit – and sometimes they even offer high available limits to those who couldn’t possibly afford them. However, you shouldn’t allow yourself to be tempted by ever increasing credit card limits. Remember, that money isn’t yours and you eventually have to pay it back.

New Year’s resolutions might be cliché, but the end of the year still serves as a reminder to step back and reflect on time spent. And your spending habits are a good place to start.

It’s time Americans reflect on their relationship with money and excessive consumerism – and there’s no better time than the holidays. Instead of racking up debt to stack presents under the Christmas tree, bring the family closer with these 7 alternative Christmas traditions.