5 Tips to Lower Holiday Debt

Now that the holidays are over, those of us who used our credit cards are now seeing the downside to that Santa spirit. The bills have arrived and you now realize just how much you spent. Well, don’t panic, yet! Here’s some sound advice to help you put this Christmas behind you and help you attack Christmas 2009 without relying on credit.

• Line ‘em up and move ‘em out No, it’s not an episode of Rawhide, but it’s a way to take a look at the big picture and start picking off your debt one-by-one. Get out your credit card statements and line them up. First, priority should be cards that are right at or over their credit limits. Since these will cost you in outrageous fees, we need to get those below the credit limit ASAP. Next priority is the higher interest cards followed by the lower interest cards. Got them lined out? Good. Next step.
• Stop the fees Okay, Like I said above, the first thing is to make sure we don’t get an over-limit fee. If you have any cards right at or over the limit, we need to take care of those first. This can be a vicious circle where you make a payment, the balance dips below the limit, but then you are attacked with interest and the over-limit fee (which seems to apply on the worst possible date) that jumps you back over your limit. You want to make enough of a payment so that you will still be under when they apply interest and fees.
• Pay more to the high-interest cards It is always a good idea to pay more than the minimum, in fact the more over the minimum, the better. But, if you have multiple cards, and most of us do, you need to get the high interest ones down first. To do that, you pay the lower interest cards at about $5 over minimum so that you can pay the higher interest cards more. I suggest at least $50 over minimum, if you can do that. If not, then as much as your finances allow. As you pay down the high interest cards, your minimum payments will lower drastically, allowing more of your payment to go to principal.
• Negotiate lower interest If you have been a good customer, paid bills on time, and stayed below your credit limit, you may be able to negotiate better terms, even in the short term. Call the card company up and remind them how good you’ve been. If you are receiving offers for 0% transfers, tell them so. They may reduce your rates to keep you there.
• When all else fails If you find yourself in quite a pickle where you are in danger of not being able to make at least the minimum payments every month on your card, consider Consumer Credit Counseling. They are almost always able to negotiate 0 interest as long as you are using their services. Of course, this almost always means closing the credit card account, but it will definitely help you stay afloat and pay off your debt.

Once you get your cards paid off, decide on which ones to close. I try to stay with 1 or 2 cards and only use them in emergency situations. Try to choose the ones that have a good balance between credit limit and interest rate. The better your credit score is, the lower the interest you can get.

How to Keep Your Pets Safe During the Holidays

Most of us like to include our pets in our holidays and let them enjoy some of the same things we humans do. Unfortunately, some of us find out the hard way that our pets can’t tolerate all the things we can.

The first thing to remember is that pets tend to get anxious when things aren’t normal – which holidays rarely are. This anxiety can cause your pets to behave in ways you wouldn’t expect. For example, pets may want to inspect the new items guests bring into your house, such as suitcases, food, plants, etc. These items can prove fatal.

Human medications behave very differently in dogs and cats than they do in humans. Medications left where pets can get to them may be ingested. This is true for over-the-counter as well as prescription meds. Even something as ‘safe’ as ibuprofen or acetaminophen can cause irreparable harm to dogs and cats. It doesn’t need to be ingested in quantity, either, one tablet is all it takes.

Holiday treats can cause problems, too. We humans do love our chocolate, but it contains theobromine which can cause heart, kidney and central nervous system problems. Onions and garlic in large amounts can cause red blood cell damage. Sugar substitutes can cause rapid blood sugar decreases and seizures. Grapes and raisins can cause renal failure. Macadamia nuts can cause paralysis. Unbaked bread dough can expand rapidly and cause ethanol poisoning. In short, pet foods for the pets is the safest bet. Keep in mind, though, that any drastic change in diet can cause gastric problems that you may be cleaning up for days afterward.

Plants are another problem, especially with cats. However, if your dogs are as curious as mine, this applies to them as well. Mistletoe and holly are poisonous as are some exposed plant bulbs. Lillies, any part of the plant, are especially bad for cats.

Pets, being pets, are likely to surprise you. Just when you think you’ve covered everything, they eat something they are not supposed to and then what do you do? Don’t wait. Try calling your vet’s emergency number first, or another animal emergency hospital. You can also call the ASPCA national animal poison control center (888-426-4435). They charge a veterinary consultation fee, but free information about toxins is at their web site.

How to Survive Christmas on a Budget

Many people have already started the dreaded annual event – Christmas Shopping! No other two words appearing together strike more fear in our bank accounts than those. ‘Tis the season to overspend, then regret it all year. But, take heart! There is help!

Since the government is finally admitting that we are in a recession, something that millions of Americans already new, it is time to be smart with our Christmas spending. Here is some sound advice.

• Make a budget and spend within it.  Figure out how much you can spend on Christmas without letting vital bills go past due.  Make a list of those on your Christmas list and prioritize those you want to spend more on, i.e. children.
• Leave the credit cards at home.  Credit card companies are raising rates for no reason at all.  Even if you have a perfect payment history with them, you may find your rates doubling or tripling.  This can make differences in payments from tens to hundreds of dollars a month.  So, the less you can put on a credit card, the better off you will be.
• Be smart with electronics.  Instead of buying new, consider purchasing factory refurbished products.  They often have the same warranty as new, but can save you sometimes as much as 50%, but usually around 20-25%.  For example, Dell* has an outlet (see links at the bottom of this article) that sells computers that have been ordered and canceled, or returned for some reason.  They are checked out before they are shipped.  We bought our son a refurbished X-Box* last Christmas and it has not had a problem.  We could not have purchased it new, so this was a good compromise.
• Consider home-made gifts.  Bake some cookies, make some candy, knit a sweater.  Most of us have a talent we can use for someone.  Use your computer to create some ‘coupons’ good for yardwork or housework and give to mom and dad or grandma and grandpa.  They will love it.

Christmas is about giving, but it does not need to be about expensive gifts.  Giving yourself can go a long way.

* I am not endorsing any products in this article.  Dell outlet is at www.dell.com/outlet

For more tips on making extra money, see the Online Business Guide.

Thanksgiving on a Budget

There always seems to be one house that everyone gathers at for Thanksgiving dinner.  In our family, it seems to always be mine.  So, to simplify things, we generally buy the turkey, dressing, cranberry sauce, potatos, bread, gravy, etc.  My mother-in-law will bring the sweet potatos, and my mother the deviled eggs, but as you can see, most of the burden is upon us.  So, we have learned how to cut down on our expense while still providing a wonderful dinner.

Let’s start with the turkey.  It’s easy to go out and get the biggest bird you can, but then you are strapped with the leftovers and will be eating turkey sandwiches, turkey soup, turkey burgers, turkey this-and-that.  Typically, if you figure about 1 pound per person, you won’t have any leftover turkey.  Also, we’ve found that the store-brand turkeys are just as tasty and moist as higher-priced brands.

Start looking for specials now.  Most grocery stores will begin sales on turkeys to get you into the store at the end of October.  Plus, shopping early gives you a wider choice.  Make sure you have room in your freezer until the big thaw.  If you also have turkey at Christmas, shop the day after Thanksgiving for your next turkey.

Making your own stuffing is a lot tastier than purchasing stuffing.  We use a store-brand stuffing mix, but you can also use grandma’s recipe.  Keep bread that is going stale for use in these recipes.

Using disposable aluminum pans can make cleanup easier, but be sure to evaluate ease vs. budget.  Sometimes it is just worth it to make clean up better.  On the other hand, buying prepared food usually ends up costing you in the long run.

Share the cost.  Don’t make the same mistakes we did and try to prepare everything.  Try to equalize the cost and preparation with your guests, especially if they are family.  Maybe they can bring 2 dishes instead of 1, or cut back on what you make and supplement it with their dishes.

Pre-plan meals with the leftovers, if you have any.  That way, you can also plan ahead to buy anything you need to make that special turkey dish.

Have a great holiday!

Cheap Halloween Costumes

OK.  I know this post may be a little close to Halloween, but if you are like most people, you are still undecided.  Not only that, but costumes are pretty outrageous considering they will probably only be worn once.  Dressing up the little tricksters doesn’t have to be a budget-breaker.  With a little imagination, you can use mostly what you have at home to create an award-winning costume.

For the younger trick-or-treaters, think of something that will go with those all-over pajamas.  If they have something brown, make their face up like a lion, or pink can be a cute bunny.  One year, we gutted a stuffed over-sized teddy bear that was falling apart and put my son in it, made up his face and taught him to growl like a grizzly.

Most of us may want to forget the seventies, but like it or not, that is a popular theme this year.  Dig in your closet, or visit local thrift stores for seventies apparel.  Don’t forget the gaudy necklaces and the open shirts that were popular.  Or dig out that tie-dye and go as a hippie.  Don’t forget the hair.

A geek is an easy one.  Take some pants that the legs are too short, black socks and tennis shoes.  Button up shirt with a pocket protector and lots of pens.  Add slick hair and some glasses to complete the ensemble.

You can use the old ghost standby.  Take an old white sheet and cut eyes in it and voila!  If you don’t have one, you can probably pick up a cheap one at the dollar store or other deep-discount store for a few bucks.

You can make a good hobo by just using old clothes that have holes in them, or are very worn.  Use makeup to smudge dirt on the face.

Using those gosh-awful loud shorts and shirt, an old camera, those old disney maps (or others), a cap with a tourist attraction logo on it can make a good tourist.  You can use your imagination and have fun with this one.

Plenty of other ideas out on the internet, just enter cheap costume ideas into a search engine.