Is the New Credit Card Consumer Protection Law Really Going to Help You with Money Management?

When you get your credit card statement or statements in the mail each month are there other things in the envelope besides just your bill? Perhaps there is also an advertisement or two stuffed in there with the statement. And maybe, just maybe there is something with a lot of fine print that is labeled as being “important information about changes to your account.” How many people do you suppose actually read all of this fine print? Well the banks issuing these credit cards are counting on this; but the cat is slowly getting out of the bag on their latest scheme!

For years credit card companies could make changes to cardholder agreements at their leisure. There were really no restrictions placed upon these companies by the federal government. But because it was such a competitive industry it would not have been in any credit card issuer’s best interest to make themselves less competitive by doing things like randomly raising interest rates. That was until the banking and credit meltdown.

So President Obama signed a bill into law called the Credit Card Accountability, Responsibility and Disclosure Act. This bill basically states that banks are restricted in the way that they can raise interest rates on fixed rate credit cards. That’s great news for credit card holders who are concerned about money management, right? It would be, except the law says nothing about credit cards that have variable rates.

And you guessed it: now these credit card companies are changing many of their cardholders’ accounts to variable interest rates instead of fixed interest rates! Some consumer advocates are going as far as calling this a bait and switch tactic too. While we may not all agree that it is this extreme, we can all recognize that these companies are changing these terms simply to sidestep the new law.

So, what can you do? Your best option is to pay off your variable rate credit cards, and try to obtain fixed rate credit cards. Debt settlement and debt consolidation plans are also a solid choice, if your credit cards are putting excessive strain on your finances. Make sure you pay attention to the tiny print in your next credit card statement, and don't get caught with a higher than usual interest rate!

How can it even be possible that a person who earned hundreds of millions of dollars during their career could end up under a mountain of debt? Well now that the news coverage over the grieving of Michael Jackson’s death has partially subsided, his enormous debt is starting to make the news. And some of the numbers being thrown around for this debt have been as high as $500 million dollars! So how did this all happen? Did he get really lousy budgeting advice? Or was it his copious lifestyle that was to blame?

Michael Jackson’s adult life could probably be summed up in two words: excessively lavish. So what kinds of things did he buy? Perhaps the easy way to answer that would be by asking what he didn’t buy! While we would all love to have our own private amusement park, Jackson actually did. And his sprawling home at Neverland Ranch was chock full of rare antiques. At one point he was even rumored to have owned the skeleton of Joseph Merrick otherwise known as the Elephant Man. This was a man who had no problem spending 40 or 50 million dollars in the span of just one year. That would be like spending $137,000 every single day for a year!

After his albums stopped selling like hot cakes in the late 80’s Jackson’s income dwindled. Fortunately for Jackson there were assets that he could still rely on. Where normal people would need to explore debt settlement options, Jackson instead used investments he had made as a means of leveraging. This put more cash in his hands. And as always the cash would not stay in his hands but instead would get spent supporting his lavish life style and spending sprees. The mountain of debt continued to grow until his death.

So what can we learn from this? Well for one thing, we should all keep our spending habits in check. This is as important as ever right now too because of our economic situation. It is always a good idea to have a plan, and manage your money properly. And a financial plan starts with having a budget. If you have not budgeted for something, don’t buy it! If you control your spending habits, your savings will take care of themselves.

Remember last summer when gas prices went through the roof? It was horrible! In some parts of the county prices actually topped $4.00 a gallon. At those prices you could quickly max out your credit card just to settle your debt at the pump. So what caused that spike in prices?

1. Supply and demand will always be the major driving force behind the price point of any product. If supply is low and demand is high, prices will go up.
2. Speculative trading is common with oil futures. In this case it has been estimated that this practice may have added up to $25.00 per barrel of oil.
3. Hoarding did take place. When prices started to rise, people panicked and flocked to gas stations to fill up fearing that prices would continue to rise.

But this summer prices did not rise significantly. Those pieces that fell into place last summer to create the perfect storm did not raise their ugly heads this year. So this summer while you are driving back and forth to work or anywhere else, it is costing you less money. In many cases this adds up to a very significant amount of money too.

So what are you going to do with all of this extra money? You could go buy yourself a nice new flat screen TV. Or maybe you could get that cool new iPhone so you can keep up with the Jones. Perhaps a new wardrobe is in order? While those are certainly fun ideas, they are likely the reason you felt the pinch last year when prices rose. Paying off your debt is the best decision you'll make this summer. Do you really need that flat screen? I think not.

The money you are saving on gas might just be one of the best debt solutions you have right now. You could use the money that you are saving on gas right now to help pay off debts that you have incurred. For example, use this extra money to pay off one of those high interest credit cards. Or use the extra money to help pay off your car loan quicker. By doing this you will truly be compounding your savings in the long run. Not to mention the long-term savings felt by a reduction in the overall interest you pay.

How long can a state operate without a budget? It seems like an absurd question, but let’s take a quick peek at California. Their fiscal year came to an end on June 30th. And they did not have a budget approved for the following fiscal year at that time. So when it comes to services that are funded by the state, where is the money going to come from to pay for it all? That’s a good question, and only recently was answered. California was, up until a week or two ago, literally writing IOU’s to its creditors. Talk about poor money management?

In government, here is how things are supposed to work: you can only spend the money you have. It’s called a balanced budget. Unfortunately this year funding from the State and Federal government has decreased and many programs are requiring cuts. Each government official has a vested interest to keep as many programs on the budget as they can, but without the funding something has to give.

The only options: either raise taxes or lower costs by cutting programs. Unfortunately, in our economic climate, no one can afford to have their taxes raised. So to balance the budget, what programs should they cut? That’s a tough question! But it is one that needs to be answered quickly because without a budget eventually even essential services like fire and police will fail. The budget is such that it calls for a reduction in spending to the tune of $15 billion. Cuts included $6 billion from K-12 schools, $3 billion from the University systems, $1.3 billion for healthcare, and $1.2 billion from the state prison system.

So what can we as individuals gain from this? Well, how many of us actually have a personal budget? And for those of us that do, is it balanced? The best budgeting advice is to simply have a budget! Generally people are not entirely in complete control of how much money they make. Few people can give themselves a raise! So we have to control our spending. Ideally we never want to spend more than we have or we end up in debt. And ideally we would like to actually spend less than we make so we can save for the future. This is an opportunity to learn from the fiasco that California is facing. Having a balanced budget is every bit as important for individuals as it is for a state government.

We have all been tightening our belts in this recession. The money never seems to go as far as one would like. Our daily living expenses as a whole just never seem to go down. Now imagine how difficult money management becomes if you have a very large family, like Jon and Kate Gosselin from Jon & Kate Plus 8.

Obviously raising kids can get expensive. Anyone who has children can attest to this. But the actual cost per child may shock you. A recent government study sponsored by the USDA actually put a dollar figure on this. The study involved looking at what the average middle class household would spend to raise a child to the age of 17. The major expenses the study looked at in order of cost from highest to lowest were:

1. Housing
2. Food
3. Child care and education

Based on their findings the average middle class household will spend $221,000 per child from the time they are born until they turn 17, and that's not even including clothing or medical care!

If we go back to the example of Jon and Kate, that is a whopping $1,768,000! That’s right, Jon and Kate can expect to spend more than one and three quarter million dollars raising their children! How can the average family possibly manage money in a situation like this, especially when you don't have a fancy television deal to help with expenses?

One thing that families with many children have going for them is that the housing costs decrease exponentially as the number of children increase. So long as the children don't mind sharing rooms with each other. But the other factors like food, child care and education will not decrease, but rather increase with time, due to inflation. Money management is a challenge for any family, but for large families the challenge is even greater. Here are some tips for managing these expenses:

1) Create a budget, and start planning now for your future expenses from school clothes next year to college in ten. Being prepared could be the difference between tens of thousands of dollars.
2) Look to save wherever you can: buying in bulk when it's a good deal, cutting coupons, shopping on certain days (like Tuesdays when stores introduce their weekly specials), and bargain shopping at thrift stores, Goodwill, and others will help reduce spending.
3) Save on childcare: from employer childcare flexible spending accounts to enrolling your children in pre-kindergarten, there are many ways to save without forfeiting the quality of care.
4) Everyone helps: create chores and tasks for your children to help around the house. As they get older set a budget for their expenses and if they want to go above and beyond that budget make them contribute monetarily. This includes clothing, shoes, haircuts, makeup, sports equipment, and vehicles. Babysitting for other neighborhood kids, cutting grass, having a paper route, or dog walking. These are all things children can do to make some extra money.

Being a frugal family takes hard work, but if you implement just a few of our tips your family will surely benefit in the long run.

We have all been tightening our belts in this recession. The money never seems to go as far as one would like. Our daily living expenses as a whole just never seem to go down. Now imagine how difficult money management becomes if you have a very large family, like Jon and Kate Gosselin from Jon & Kate Plus 8.

Obviously raising kids can get expensive. Anyone who has children can attest to this. But the actual cost per child may shock you. A recent government study sponsored by the USDA actually put a dollar figure on this. The study involved looking at what the average middle class household would spend to raise a child to the age of 17. The major expenses the study looked at in order of cost from highest to lowest were:

1. Housing
2. Food
3. Child care and education

Based on their findings the average middle class household will spend $221,000 per child from the time they are born until they turn 17, and that's not even including clothing or medical care!

If we go back to the example of Jon and Kate, that is a whopping $1,768,000! That’s right, Jon and Kate can expect to spend more than one and three quarter million dollars raising their children! How can the average family possibly manage money in a situation like this, especially when you don't have a fancy television deal to help with expenses?

One thing that families with many children have going for them is that the housing costs decrease exponentially as the number of children increase. So long as the children don't mind sharing rooms with each other. But the other factors like food, child care and education will not decrease, but rather increase with time, due to inflation. Money management is a challenge for any family, but for large families the challenge is even greater. Here are some tips for managing these expenses:

1) Create a budget, and start planning now for your future expenses from school clothes next year to college in ten. Being prepared could be the difference between tens of thousands of dollars.
2) Look to save wherever you can: buying in bulk when it's a good deal, cutting coupons, shopping on certain days (like Tuesdays when stores introduce their weekly specials), and bargain shopping at thrift stores, Goodwill, and others will help reduce spending.
3) Save on childcare: from employer childcare flexible spending accounts to enrolling your children in pre-kindergarten, there are many ways to save without forfeiting the quality of care.
4) Everyone helps: create chores and tasks for your children to help around the house. As they get older set a budget for their expenses and if they want to go above and beyond that budget make them contribute monetarily. This includes clothing, shoes, haircuts, makeup, sports equipment, and vehicles. Babysitting for other neighborhood kids, cutting grass, having a paper route, or dog walking. These are all things children can do to make some extra money.

Being a frugal family takes hard work, but if you implement just a few of our tips your family will surely benefit in the long run.

The credit card industry is going through some changes. New government regulations are slowly being put into place. These new rules could help you pay off your debt more quickly. And they certainly offer some great consumer protections. These new regulations are part of the Credit Card Accountability, Responsibility and Disclosure Act which goes into effect bit by bit from now until February, 2010.

A large portion of the new rules revolve around a banks ability to change a cardholder’s interest rate. When a bank raises your interest rate it can drastically affect your ability to pay down or off your credit card debt. Many of the rules also address billing, fees and who may get credit cards. The new rules (that do not necessarily apply to credit cards with variable interest rates) include:

1. No raise in interest rate the first year the card is issued.
2. Issuers may not raise rates on existing balances.
3. Due dates may not change; they must remain on the same day every month.
4. Bills must be delivered to the customer’s mail at least 21 days before the due date.
5. Nobody under the age of 21 may get a credit card without a co-signer.
6. The bank may not raise the rate on someone under 21 without the co-signer’s approval.
7. Banks can no longer charge consumers a fee just for making a payment.

If for some reason you don’t manage your money very well and you miss a payment or two, then the bank may raise your interest rate even if you do not have a variable rate credit card. There is good news, however. If you get back on track, start to manage your money well and make payments on time for six months, then the interest rate must return to where it was originally.

So for those of you who may not be able to make the consistent payments over six months to get back to a lower interest rate, trying to settle your debt with credit card companies may be a viable option. The tomfooleries that banks were allowed to pull in the past are being eliminated. But just because the government changed these rules, savvy consumers will need to continue keeping an eye on their credit card issuers to see how they try to get around these new rules.

At the root of economic theory is a simple principle; people make smart and responsible financial decisions. Given the choice to spend their money paying debt that is owed, or to spend it on let’s say going out to dinner, the responsible consumer will spend their money on paying down the debt. Unfortunately that is not always the case.

For those of you that choose to go out to dinner, you should begin to focus on what you’d like to accomplish in your life. With every dollar you earn, you choose whether to responsible or to be irresponsible. Responsible people do not spend money on non-essential items they cannot afford. Additionally, I am constantly amazed when people have hundreds of dollars in cash in their pocket, and a nice new cell phone with a custom ring tone, but haven’t sent any money to their creditors in 6 months. What’s more important, your bills or your ring tone? Do you expect to pay your bills or do you think you can magically make them disappear?

Don’t get me wrong, there are always people that are just in that tough of a spot. They just don’t have enough money coming in each month to deal with all their bills. That’s not the person I’m referring too. I’m referring to the person that makes the conscious decision to avoid their creditors and spend money on worthless items instead. What these people must understand is that spending their money on themselves instead of dealing with their bills will only injure them in the long run. This behavior hinders credit scores and can even cause depression because of financial instability. You are either in denial about your situation, or you should seek professional help.

If you want to be responsible, my recommendation would be to look into a debt consolidation program, a debt settlement program, or start to automate your bills. Create an income and expense budget to understand what you can afford. Possibly pay all your bills through your bank accounts. Set up an automatic deposit for your paycheck to go into your checking account. Total up your monthly bills for each month. Have that amount remain in your checking account and have the remainder of your funds be transferred into a savings account. Forget about your checking and allow yourself to use the money in your savings as you see fit. This will ensure that you begin to live within your means and your bills will get paid on time.

Anyone who has children can attest to the fact that once a year they get socked with the expenses related to sending their kids back to school. As parents, you need to plan ahead for the fact that this is going to happen. The expenses of sending your children back to school needs to be part of a family’s budget. After all, a family budget is the key to good money management. The last thing you want to be doing is trying to settle credit card debt caused because you did not plan ahead for an expense like school expenses that you knew was coming!

Unfortunately many families do not even have a budget. Add to that the fact that it becomes increasingly difficult to manage your money during a recession. Right now many families literally live from paycheck to paycheck. But budgeting may be simpler than you think. Creating a simple budget will help you manage your money.

Any budget must be realistic. A common practice is to make a list of the things you need to buy when creating a back to school budget. While this is a good plan, it may not be the logical first step. A better way to manage your money is to first figure out exactly how much you can afford to spend. After you have figured out how much you can spend, then start making your shopping lists.

One great way to give your children a reality check when it comes to back to school shopping is to involve them in the budgeting process. Their back to school list of things they think they need can often look more like a Christmas wish list. Of course the retailers want you to buy into this. They would love to see your children return to school with brand new clothes, new shoes, new back packs and so on. By letting your children be a part of the budgeting process they will be able to better understand why they do not need everything to be brand new. It also is a good life lesson in money management for your kids.

A few back to school tips are listed below:

•Shop for back to school supplies throughout the year. The basics are likely not to change much from year to year. So why not look for those supplies throughout the year when they are likely to be at rock bottom prices?
•Don't be afraid to hit the discount bins at the dollar stores, Wal-Mart, or other large retailers that provide discount prices.
•Buy clothing from the sales rack, and buy classic clothing. Don't go for 'trendy' styles, that are sure to change within the next 4-6 months.
•Shop at the Outlet Malls. Look for sidewalk sales and specials throughout the year.
•Encourage hand-me-down school supplies and clothes from older children to their younger siblings.
•Consider having your children earn money throughout the year doing chores, and using that money to pay for items during your back to school shopping. This helps your children to learn the value of a dollar.

Change is in the air. The summer is coming to a close, children are back in school, and the weather is turning cooler as we are enter the last quarter of the year. The next three months seem to go by faster than any other quarter. This probably occurs because we prepare for one holiday after another. We celebrate a wide variety of holidays from Halloween to Thanksgiving to Christmas, or whatever you celebrate, and lastly New Year’s. Why does it seem that these holidays are all bunched up together? Why can’t they be spread out over more months? Why is it that between Thanksgiving and New Year’s the average amount of weight gained for adults is 7 pounds? Yes, 7 pounds. Think of all the food you eat and think of the amount of alcohol you consumed for each holiday. Why do we do this to ourselves year after year? When will we learn how to control our splurges? There is no better time than the present.

As we head towards the end of the year, what did you think I meant the end of the world? As we head towards the end of the year, try reign in your credit card debt. Set a budget for what you can afford for this holiday season and stick to it. Put yourself into a better financial position by sticking with your holiday season budget. Maybe you should pay by cash only. Whatever you think might work, do it. There is no better time than starting now.

Most people think that winning the lottery would be like having a dream come true. You could buy a new car. You could by a new house or that boat you always wanted. Looking into debt solutions would no longer be an issue. Unfortunately the reality is that this dream often turns into a nightmare for people who win the lottery.

Typically when someone wins the lottery debt settlement is the furthest thing from their mind. If you won the lottery today would you settle credit card debt, or would you go shopping? Would you manage your money, or would you start spending it? The statistics show that a lot of lottery winners do the latter, and many quickly find themselves broke. You don’t have to fall into this trap though.

It is only human to want to splurge if you have a large sum of money basically given to you. This is not to say that you can’t buy a new car and treat yourself to a few nice things. Rather, it is about moderation. A good rule of thumb would be not to spend more than 5% of your winnings right away. That way you will be left with 95% of the loot to invest.

If you don’t already have a financial advisor, get one. Professional advice can be instrumental in helping you deal with and hold onto your money. This does not mean that you should rely on your financial advisor completely though. Learn how to invest and save money yourself by reading books, taking classes and researching online to help you manage your money.

You need to set a budget. Setting a budget is not about being frugal. Instead, setting a budget is about being realistic and sensible. Think of it as figuring out how much you can afford to give yourself as an allowance without draining your new fortunes.

You can reduce the likelihood of going broke after winning the lottery if you take these simple steps to manage your money. You can buy some nice things and even take a vacation. But once the initial spending spree (which you did in moderation) is done, be smart with your winnings. You don’t want to be the next sad lottery story that hits the newsstands.

Arizona home owners who are already struggling to make ends meet may find themselves facing an unforeseen expense related to their mortgages. If you are one of these homeowners already stressed with money management woes, perhaps even to the point of exploring debt settlement options or debt consolidation plans, the state equalization property tax repeal bill might be a surprise you didn’t need. This is especially true right now with Christmas shopping right around the corner.

The repeal of the state equalization property tax means that even though the value of your home has been going down, your property taxes will go up. If you have a mortgage on your property, your property taxes are likely paid by an escrow account you set up when you took out your mortgage. You literally pay your taxes as a part of your mortgage payment which is then held in an escrow account.

In the event that property taxes go up you have the choice of making a higher monthly mortgage payment or paying the difference to the mortgage company in one lump sum when your tax bill is due. Many homeowners are surprised when they get a bill stating their escrow account does not have enough money to pay their taxes that recently increased. Will homeowners already having money management issues be able to come up with this extra expense?

Not likely. Most homeowners have to tighten their belts even more when it comes to discretionary spending as the holiday season approaches. Money management is on everybody’s minds right now, and unforeseen bills can ruin a family’s budget. Less discretionary spending means less money getting infused back into the economy. This of course refuels the recession. It is a vicious cycle.

Homeowners may not be the only ones who feel the pain from this property tax increase either. Businesses and utility companies who own large tracts of land will be facing very large property tax bill increases too. The additional expenses they incur will of course be passed on to you, the consumer already struggling to make ends meet.

Are you prepared for a possible increase to your property taxes this year? Thankfully, if you have excessive unsecured debt in addition to your mortgage problems, debt settlement options are available for these tough times.

It is a common problem these days: people are losing their jobs. The timing for many people could not be worse either. Many people who have recently lost their jobs were already struggling with money management. It is like you got kicked when you were already down when one day you are dealing with credit card debt, and the next day you are filing for unemployment benefits. This doesn’t have to be the end of the world though. You can survive this financial crisis.

Now more than ever is when you will need to manage your money. This is a good time for you to take a personal financial inventory. First step: calculate net worth. It only takes a few minutes to calculate your net worth. Be honest with yourself though. Value your things at today’s market value instead of how much they cost you. Add everything up and then subtract what you owe in debt. This number could boost your sprits!

Second step: evaluate your spending. You must find ways to cut down on your spending. There are fixed expenses that you can not do anything about. These are your house payment, car payment, water bill and so on. While you can’t do anything about those, there are other things you can work on. If you do have a lot of credit card debt this might be a good time to look into using a credit card debt negotiation company. Identifying and cutting out any unnecessary spending is crucial.

Third step: budget. Budgeting is one of the keys to money management. Simply defined a budget is really nothing more than a spending plan which allocates your income to cover your expenses. This obviously becomes difficult if you have become unemployed because the income you were depending on has disappeared. Since unemployment benefits only go so far, you need a budget or you will not be able to manage your money.

This all seems like a lot to do, especially when you are also devoting a lot of your time to searching for a new job. But really it is not that difficult to take a quick look at your financial inventory, identify unnecessary expenses, negotiate debt, and create a budget. Doing so could be the difference between surviving this financial challenge and going belly up.

A very fascinating phenomenon has occurred in baseball this year. The best teams in the playoffs this year are also the teams with the biggest budgets. This begs the question of whether high salaries result in better performance on the baseball field. And if so, can that same controversial budgeting advice be applied to the business world? Money management advisors across the nation have recommended cuts in employee salaries as a way to maintain business profits during the recession. However, if the baseball phenomenon is applicable to other industries then this may not actually be the smartest way of managing your money.

It’s been fascinating to see what has happened with baseball this year. Of the eight teams poised to make the playoffs, six of them are ranked among the top eight in terms of the amount of money spent on the team. The Yankees hold the number one position in the playoffs and they also hold the number one spot as the baseball team with the highest payroll. Is this just a coincidence? Many experts in the baseball business say that it is. But perhaps there’s more to it than just pure chance.

It can be argued that higher salaries are an incentive to do better in the sport, and act as incentive for better players to come calling. This could be particularly true during a recession when even the richest people are wondering what is going on with the economy. The money dangling in front of the nation’s best baseball players may be even more of a motivation than it was in the past to do well at the job. And although it could be just a coincidence that six of the top eight baseball teams are also among the top eight spenders, it seems like a pretty big coincidence to just blow off without a second look.

If it’s true that the increase in spending results in better performance for baseball players then business owners may want to look at their own money management approach. Most businesses have taken the budgeting advice that they have to cut back spending (and that means cutting salaries) if they want to keep their businesses alive during financially tough times. However, if better performance correlates with higher profits and higher wages result in better performance than an increase in wages would result in higher profits. No one is saying that you should change how you’re managing your money just yet but it might be worth it to keep an eye on baseball as you watch your own business budget and see what you can learn.

Most moms are skilled at money management. It’s often their responsibility to make sure that the household needs are taken care of without their family going into debt. They use savvy shopping, coupon clipping and frugal living to make sure that their family doesn’t go into debt but also doesn’t go without. Unfortunately, managing your money gets tough at this time of year. As the fall and winter holidays approach, it gets harder to say no to the things that your kids want. The problems start with Halloween. The following budgeting advice can help moms save money on Halloween without compromising their kids’ fun.

The biggest piece of budgeting advice that moms should follow this season is to start working now to save money on Halloween costumes. Costumes tend to be the biggest expense associated with Halloween. If you can save money on your kids’ Halloween costumes then you can save money on Halloween. You can implement some of your usual money management tricks here. Start early, do comparison shopping, make what you can at home, buy what you need at yard sales and thrift stores and don’t be ashamed to put your kids in some Halloween hand-me-downs that you’ve updated with a few cheap accessories. Your kids may think that they want the latest, hottest Halloween costumes from the stores but they don’t have to win this battle. A succinct explanation of the importance of managing your money along with your own enthusiasm for coming up with creative costume ideas should be enough to get your kids on board with your budget Halloween costume plans.

Once you’ve dealt with the Halloween costume issue then you’ll want to focus on applying some smart budgeting advice to decorating your home for Halloween. The same tricks that you used to get an affordable Halloween costume will apply to getting affordable Halloween decorations.

Hopefully you’ve been managing your money well for some time already and you have some decorations saved up from years past. If not then you’ll want to scour clearance outlets and thrift stores for decorations. Make some cheap decorations yourself with the kids. Create a decorating budget and stick to it. It’s more important to stick to your money management plan than to have the best-decorated house on the block this Halloween.

Finally, there’s the issue of Halloween candy. If you’re planning to stay home and hand out candy to the neighborhood children this year then you’ll want to do what you can to get that candy at the lowest price possible. This further decreases the amount of money that you spend on Halloween this year. There are two major tricks here. The first is to buy candy that’s not chocolate because chocolate is almost always the most expensive candy in the store. The second is to buy in bulk at discount stores like a local dollar store, or even major shopping outlets like Costco or Sam's Club. Implement these two tricks and you should find yourself able to buy what you need without breaking your budget.

If you’ve been smart about managing your money this Halloween then you may even have some money left over in your Halloween budget. Consider using it wisely at those post-Halloween sales to pick up the costumes and decorations that you’ll want next year at a real bargain.

Smartphones are becoming a necessity for many people today. Unfortunately these phones don’t come cheap. In addition to the initial cost of buying the phone, you have to pay for your monthly plan. People also frequently pay for additional accessories (such as improved battery chargers) and downloads from app stores for personalizing the phone. All of this can lead you into a situation where you’re spending more money than you should on a phone. If you find yourself in the position of reviewing debt consolidation plans and trying to settle credit card debt but you don’t know where your money is going then you may want to look at how much you spend on your phone each year. It’s good to know which smartphones offer the best deal in terms of their cost. Take a look at the differences between the iPhone 3GS and the Android G1 and you can see that some phones are better than others when it comes to cost.

The iPhone 3GS is generally considered a better phone than the Android G1. There’s a lot of hype about the iPhone and much of it is well-deserved. However the Android G1 is a highly capable smartphone and it may be a lot more affordable than the iPhone 3GS is. First of all, the Android phone is cheaper to purchase; it runs $50 cheaper than the iPhone 3GS when purchased with a contract and is a full $200 cheaper when bought without a contract. Moreover, the monthly bill on this phone is cheaper; the total monthly cost of an unlimited voice, messaging and data plan is approximately $35 cheaper with the Android than with the iPhone 3GS. If you don’t need an unlimited plan then you’re looking at a savings of about $35 per month when getting an average usage plan on your Android G1 compared to your iPhone 3GS.

But do you get more for your money when you spend the extra to get an iPhone? It doesn’t appear that that’s the case. The average usage plan for the Android phone gives you a full 100 extra minutes of talk time for a price that is $35 per month lower (and both phones come with unlimited data and messaging). Both phones have WiFi, GPS, voicer commands, cameras that are comparable to one another and similar battery life in terms of talk time. The iPhone 3GS does offer longer standby time before recharging is needed and it offers more on-device memory storage. However it doesn’t offer multitasking features which the Android G1 does offer. Both phones allow you to download applications from their individual stores. The iPhone store may offer more apps but it also offers more apps that cost money. The Android store is growing and can be added to by a variety of developers so costs for downloading apps vary and may be cheaper than iPhone apps depending on what you want to download.

So what does all of this boil down to? Even if you need a smartphone, you may not need the phone that you think you need. If you’re having trouble with debt then you should look into finding a smartphone that meets your needs without costing so much. There are a lot of modern phones out there that don’t have to cost as much as the one that you think you love. Plus you can further reduce what you spend on your phone by limiting the apps that you pay for and reducing your plan if you don’t need as much talk time as you have. Instead of trying to settle credit card debt later, try to reduce your spending today. Instead of looking into debt consolidation plans in the future, try to reduce how much you are adding to your debt right now. Being smart about your phone means you’re being smart about your money.

The holidays are a mixed bag of emotions for many people. On the one hand, we get excited about all of the wonderful things that we get to experience during the holiday season. On the other hand, the holidays can be a highly stressful time of year. A lot of that holiday stress comes from financial concerns that crop up during the holidays. Right after the holiday rush a lot of people have to start looking into credit card debt negotiation, debt consolidation plans and other ways to settle credit card debt because they spent too much money during the Christmas season. If you can avoid going in to debt this year then you can enjoy the holidays more fully. If you cut back on your spending in three areas – presents, travel and parties – then you should be able to minimize the amount of debt that you acquire during the holidays this year.

The biggest problem area for a lot of people is the problem of Christmas presents. There are certain people in our lives to whom we feel obligated to give Christmas presents. This ends up costing us a lot of money. If you can find a way to buy fewer presents this year then you will have found a way to minimize your need to settle credit card debt once the holidays are done. The key here is to talk to the people in your life with whom it’s reasonable to discuss the problem. Parents, adult siblings, friends and spouses are all people that you can talk to about holiday spending. Most of us are in the same position of dealing with financial difficulties and we can help each other out by relieving each other of the burden of spending a lot of money on presents. Agree to only buy gifts for the kids, do a holiday potluck instead of exchanging gifts with friends or do a “white elephant” party where each person buys for only one other person in a group. These methods reduce what you spend on Christmas presents and help you avoid the need to review debt consolidation plans at the end of the year.

Next you may want to reconsider your travel plans for the holiday season. A lot of people travel to their hometowns for the holidays. Some go for both Thanksgiving and Christmas. Others go to both their own parents’ homes and their in-laws. Consider whether or not that’s a smart Christmas investment this year. Maybe you can plan one big family get-together in the spring instead when travel fares may be cheaper. Or perhaps you can go to just one gathering instead of several. Or maybe you can get with the 21st century and use the Internet and video conferencing to bring everyone together in one space on Christmas even though you’re in different parts of the country. Barring that, at least reduce your travel costs by looking for good deals on travel, keeping costly travel activities to a minimum and eating at home with the family instead of dining out in restaurants during the trip. All of these things reduce your holiday spending and help you keep out of debt so that you don’t have to look into credit card debt negotiation after the holidays.

Finally you’ll want to make sure that you keep your spending limited when it comes to holiday parties this year. Holiday parties are pricey whether you are throwing them yourself or just attending a variety of different events. Attendees feel the need to dress up, make sure they have fresh haircuts, bring a bottle of wine with them and even bring gifts for their hosts. To keep the costs down in this area you’ll want to limit yourself to the number of parties that you choose to attend. Make do with the clothing that you have in your closet already instead of buying dressy new clothes for the event. And stick to bringing an affordable bottle of wine or even a homemade dessert rather than a gift. These things all help to make sure that you don’t rack up a bunch of credit card debt by attending holiday parties and keep you from needing to settle credit card debt later on. And all of that makes it a lot easier for you to fully enjoy the holiday season!

Christmas is the one of the best times of year. We get to spend quality time with our loved ones, travel back to our hometowns and celebrate the ups and downs of another year gone by. However Christmas is also the worst time of the year in the sense that it is the time of year when a majority of people spend more money than during any other time throughout the year. Right after Christmas we often see people searching for smart debt settlement options so that they can settle credit card debt accrued during the holiday season. Christmas presents are the biggest reason that so much money gets spent each year. If you can save money on Christmas presents this year then you can avoid having to look into credit card debt settlement services once the season is over.

The top three ways to save money on Christmas presents this year revolve around the idea that if you get organized now then you can avoid having to deal with trying to settle credit card debt later. First, you need to look realistically at how much money you can afford to spend on Christmas presents and budget your holiday spending accordingly. Second you need to start buying now so that you have time to get good deals and do smart comparison shopping so that you can stick within your budget. And third, you have to avoid getting sucked into the holiday spending frenzy that starts with Black Friday sales and continues through Christmas Eve. If you can plan what you want to buy and shop around to buy it in a smart way then you can avoid getting yourself into the kind of holiday spending trouble that will have you looking at debt settlement options come Christmas.

The next three ways to save money on Christmas presents this year are all about finding ways to reduce the cost of the presents that you do buy. The first thing that you should look at doing is making homemade presents that are affordable to make and really give something of yourself to the recipient. Christmas cookies, photo scrapbooks and DIY crafts are great examples of good affordable Christmas gifts. Next you should look at cheaper alternatives to the gifts that you’re planning to buy. Instead of getting your nephew a Wii get him a game for the game console that he already has. And finally, don’t be ashamed to do some re-gifting. It’s totally appropriate to give an unused gift to someone else if you don’t want it for yourself. If you avoid spending too much money on presents then you can avoid having to deal with credit card debt settlement services when the New Year rolls around.

There are four more ways that you save money on Christmas presents this year and these ones have to do with the logistics of shopping and spending. First, pay with cash whenever you can because then you can avoid added fees and interest rates on credit cards. Second, look into 0% interest rate credit cards or retailer options for deferred spending so that you can buy now and pay later without any penalties. Third, make sure that you’re not spending money on yourself as you do your shopping. Many people shop in a manner akin to “one for them, one for me” which increases debt considerably. And finally, be aware that excessive holiday spending will mean that you start the New Year with a lot of debt. It’s great to settle credit card debt using the credit card debt settlement services that are available but it’s even better if you can avoid going into debt over the holiday’s altogether!

Did you already go through a credit card debt negotiation plan? If so then you might be in a precarious state when it comes to shopping. Many people find that they are hesitant to do a lot of shopping once they settle credit card debt. They know just how easy it is to fall into the trap of letting their credit card debt get out of control. Once you have taken care of that debt, you don’t ever want to fall into that trap again. Luckily, you don’t have to stay away from shopping forever in order to avoid credit card debt. You just need to learn to implement some smart shopping tips that will help you save money so that you don’t let your debt get out of control again.

The best tip that you can learn to implement in your life is to avoid buying anything on impulse. Sometimes that means staying away from stores, and shopping blogs. Always make a list of the items that you intend to buy before you go into a store or log on to an ecommerce website. Before you head to the checkout, take a look at the items that you have in your cart. Is every single item that you have an item that was on your list before you started shopping? If there are any items in the cart that you just bought on impulse, take them out. Ask yourself if the item is something that you truly need or want. If it is, pull out a notebook and make a note of what the item is, how much it costs and what the date is on which you wanted to purchase it. Put the item back (or hold it in your online cart for later). Let a full month pass without buying the item. Once the month has passed, ask yourself if you still want the item. If you do still want it then go ahead and buy it. This will save you a lot of money because you will discover that most impulse buys are for items that you don’t really want or need.

What about when you are shopping for those items that you do need? The most common-sense shopping tips are the ones to keep in mind while shopping. Create a budget and stick to it. Do some comparison shopping between stores to make sure that you get the best deal. Use coupons for all of your purchases. Pay with cash whenever possible. Pay off your credit cards as quickly as possible when you do use them. These are things that you already know. If you had to go through a credit card debt negotiation plan to settle credit card debt then you have probably already learned how to implement these shopping tips. Just make sure that you keep using them to avoid needing to do another credit card debt negotiation in the future.