I Choose Us - Self improvement and motivation for women.

You can still spread the holiday cheer without spending a great deal of money in the process. The holiday season is about giving, but it doesn't have to be about spending. There are plenty of ways to still show love and spread memories around!

1. Start Saving Early

You may think it's a little crazy to start preparing for the holidays several months in advance, but it could end up saving you a great deal of money. Think about the people you'll need gifts for, and then make a list. This way, as you shop around throughout the year, you can keep an eye out for the items on your list. You might find something on a super sale that you may have ended up paying the full price for otherwise.

2. Entertaining

When it comes to entertaining guests over the holidays, keep in mind that you'll likely have to spend some money. But you can spend smart. Shop for holiday specials, and if you're entertaining many guests, you can consider warehouse shopping for some of the items needed.

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If you find yourself dealing with financial stress, it can be an exceptionally difficult time. However, you mustn't let the stress take over your life. If the bills are piling up, there are steps you can take to reduce your stress and your debts.

The most important thing to keep in mind when you're faced with financial troubles is to make a plan and stick to it. If you need help with this plan, it would be in your best interest to seek out a financial planner.

Here are a five steps that can help you on your way:

1.    Don't spend money to relieve your stress. It's often tempting to reduce stress by going out for meals, entertainment, and other activities. This is clearly counterproductive. Instead, use some free stress relievers such as a warm bath, a good book, or a social event with friends at home.

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If you’ve determined that you are in debt, you’ve probably already starting trying to figure out how to get out of it.  If you haven’t started, now’s the time.  One of the worst things about debt is that it will not go away on its own.  In fact, if left to its own devices, debt will get worse.  It will continue to grow at an alarming rate, making it increasingly difficult to get out of.  The second you figure out you’re in debt is when you should start putting together a plan to get out of it.

1.  Tally up Your Debt

Before you can make a complete plan for getting out of debt, you need to know how much debt you truly have.  The best way to find out who you owe and how much you owe them is to look at a copy of your credit report.  New laws make it possible for you to obtain a free copy of your credit report each year from each of the three credit bureaus.  You can get these free copies by visiting www.annualcreditreport.com.

With your credit report in hand, write down the name of each of your creditors and the total amount you owe them.

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Behind on your credit card payments?  Consumer credit counseling might be a viable solution for you.  With consumer credit counseling, you work with a counselor to decide how much you can afford to pay on your credit card bills each month.  Your counselor then works with your creditors to work out a debt management plan that fits with your ability to pay.  This new payment schedule often includes a lower interest rate, thus lowering your minimum monthly payment.

How Does A Debt Management Plan Help?

Being under a debt management plan makes your credit card payments easier to manage.  In most cases, your payments will be sent to your credit counselor rather than to each of your creditors.  Your credit counselor is responsible for distributing your payments to your creditors each month.  Even when you’re on a debt management plan, it is wise to monitor your credit card accounts to be sure that your payments are being applied.

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When you look at your bills each month, you may feel overwhelmed by the amount of money that you’re spending on debt.  Sometimes debt might seem like a trap that you only want to fight your way out of, but not all debt is bad.  When a lender looks at your credit report to see what kinds of accounts you have, they will look at some debts more favorably than others.  If you’re focusing on getting out of debt, you need to know which debts are considered bad and which are considered good.

Some Debt is Good

Some kinds of debt are actually investments.  It might sound preposterous, but it’s true.   If you used debt to finance something whose value will appreciate or contribute to your financial health, then you’ve incurred good debt.

What are some examples of good debt?  A student loan borrowed to finance education.  It’s been proven that people with college degrees make more money over their lifetimes, so a student loan is an investment in yourself.  A mortgage loan used to purchase a home is good debt since homes typically appreciate in value.

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Society tells us that we should live a certain way.  It seems like the media is the scapegoat for many of society’s bad habits, but many people imitate what they see on television whether it’s conscious or unconscious.  If your favorite television star is wearing the latest pair of Manolo Blahniks or driving BMW’s newest addition to the 7 series, you tend to want to do it to.

The problem with imitating what we see on television and in magazines is that most people can’t afford to live that kind of lifestyle.  Instead of realizing they can’t afford it and striving to afford it, the “right now” mentality that many people have causes them to use credit and loans to obtain the lifestyle they desire.  This is where the problem starts.

If you have to use credit to obtain a lifestyle, you will also have to use credit to maintain that lifestyle.  Unless you drastically increase your income, you will not be able to play catch up while continuing to live a luxurious life.  Many people incur a large amount of debt people incur just to purchase consumable goods like clothes, food, shoes, and transportation.

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They promise to relieve the pressure from debt by lowering your monthly payments and reducing the amount of debt you owe.  Debt settlement seems to be the solution to your money woes, but there’s a lot that these companies don’t tell you.

High Administrative Fees

Like their high administrative fees for example.  Debt settlement companies charge hundreds of dollars and fees which they never tell you about, because you don’t ask.  Most consumers that use debt settlement as an option are so desperate for relief that they put their trust into the companies without exploring other options or digging deeper to find out how the company operates.  They usually don’t find out about the fees, until it’s too late.

Not only do debt settlement companies charge you high fees without ever telling you, they also use your monthly payments to fund these fees before sending a single penny to your creditors.  Months go by, your credit cards are reported as thirty, sixty, and ninety days late, and your credit score plummets.  But this is exactly what the debt settlement companies want.

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Getting out of debt is a common goal of many people.  One solution that many people use to get out of debt is to obtain a loan to pay off debts.

How it Works

When you use a loan to pay off your debts, you must first obtain a loan large enough to cover the total amount of your debt.  If you have credit card debt that totals $4,000 you need to obtain a $4,000 loan.  Once you have received the loan, you then disburse payments to each of your creditors.  Your credit card debts are paid off and you now make a single monthly payment your lender.

Benefits

Perhaps the most noticeable benefit that you receive from using a loan to pay off your credit card debit is that you no longer have to be hounded by creditors.  If you were behind on your credit card payments, you are now caught up.  The harassing phone calls will stop as soon as the creditors receive your payment.

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