Welcome to another edition for our Ezine-Newsletter as always you will find some very useful and sometimes very revealing information. Best of all its free so tell your friends.

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God Bless!

Guy Te

Date of Newsletter: 15-2009-01

This Issue Number, Category and Headline: Issue # 7 - Debt Elimination: How to Cope with Debt Incurred During the Holidays

This is the season to really be jolly, after Christmas, when all through the house not a creature is stirring, not even a mouse, stirring and worrying with you.  Yeah with you cringing after receiving and reading your credit card statement and discovering the total amount due is drastically more than you expected by up to a hundred percent.

According to surveys Americans spent a good deal more during the holidays than other times of the year.  Most purchases are made via the power of the plastic credit card.  In the past Visa USA even announced that credit card holders were able to spend more than thirty billion up till the Christmas week. 

Therefore, with numbers like that the family economy could very much translate the following scenario.  The average family in America having almost ten thousand dollars in credit card charges for one year around Christmas the next year as they are purchasing items for Christmas - they are still paying off debts incurred a year ago.

How do you avoid such a scenario?  That's easy; don't charge when you are still deep in debt.   The following are some basic and easy tips you can use to help you not go overboard in debt and on how you can cope with the debt that you have already incurred.

Plan, plan, plan

Starting today, start planning your Christmas shopping.  You can do this. Just take amount that you spent last year and in the current/new year divide it by ten.  Then that amount is what you put   aside each month. Store it in an account.  This way, by October the following year, you have the money you need for your Christmas shopping and having a debt-free holiday. 

When you adding up the money you spent for last Christmas remember to include and list your expenses i.e., any costs incurred during Christmas like: postage, decorations, mail, foods, drinks, cards, photos, etc….

Be honest with yourself

You can know if you are spending too much in the holidays. The best way to find out is if you aren't able to pay for the first two or three months any of the bills you incurred during Christmas then you are spending too much.

Be wise also, take advantage of sales and specials during the year before Christmas season if you have the money and save the gift for Christmas.

Never over do it. Assess your circumstances, and if more than twenty percent of your money taken in is being used to pay off debts you need to cut back or maybe even get help.

Finally, decide how you are going to pay off everything before the New Year comes. You have 3 quick choices: stop using your credit cards and switch to debt cards and only spend what you have – not on credit, or decrease your expenses or increase your income.  This decision for you is yours to make, because the bills will be yours to pay.

For more information on how to eliminate debts fast and easy go to:
http://desktoprevealer.net/people-assemble/50bt/#debt_package_deal


 

Without Prejudice - All Rights Retained
Copy Claim June 2008, Watson Lord and Watson - Guy Te Watson