Debt has a way of creeping up on us if we let it. It’s important to keep our debt at reasonable and manageable levels, or we could end up incurring insane interest charges and scraping to make our payments. Even for those who manage debt well, unexpected life changes can result in difficulty making ends meet.

When we find ourselves having problems with debt, the first course of action is to take a look at the budget. Finding ways to cut back on unnecessary expenses can help us pay down debts and keep monthly bills current. But what happens when we can’t solve our debt problems with budgeting?

Sometimes we need outside help. It’s hard to go to someone else when you’re having money troubles, but if you don’t gain control over your debts, your credit rating will suffer. So it’s important to take charge before it’s too late.

Some debtors turn to debt consolidation as an answer to debt problems. They transfer high-interest debts to a lower interest credit card, or they put up the equity in their homes to get the money to pay them off. While these options can provide lower payments, they are not without drawbacks. Closing numerous accounts and putting all of your debt into one account can negatively affect your ratio of debt to available credit, lowering your credit score. And if you use your home equity to secure the money needed to pay off debt, you’re putting your home at an unnecessary risk.

Another popular option for those with debt problems is credit counseling. Credit counseling agencies offer help with budgeting, and in some cases, they will set you up with a debt management plan. A debt management plan involves negotiation with creditors to obtain lower interest rates and lower payments. The debtor makes one monthly payment to the credit counseling agency, and the agent forwards payments to each creditor.

A debt management plan can help you get out of debt faster, but it can also impact your credit. A note is added to your credit report stating that you are undergoing credit counseling. This means that you can’t get new credit. However, the notation is removed once you’ve paid off your debts.

It’s also important to make sure you’re dealing with a reputable credit counseling agency. Some charge high fees or fail to make payments to creditors on time. There have also been some that were found to be outright scams, keeping the money that debtors sent them to pay their bills with. When considering credit counseling agencies, make sure they’re members of the Association of Independent Consumer Credit Counseling Agencies (AICCCA) or the National Foundation of Credit Counseling (NFCC). These organizations regulate and monitor member agencies, making sure that they operate legally and ethically.

An overabundance of debt can wreak havoc on our finances and our credit scores. It can also be the cause of undue stress. By seeking help at the first sign of trouble, we can often prevent our debts from spiraling out of control.

Dave Ramsey offers life-changing financial advice as host of the nationally syndicated radio program, The Dave Ramsey Show, heard by nearly 3 million listeners each week on more than 375 radio stations throughout the United States.

I have watched Dave Ramsey on TV and have listened to him on the radio what a cool surprise to find his TV shows on Hulu.com today.

Below is Dave’s episode from February 13th all about Personal Finances:

Learn more about Dave Ramsey, listen to past shows and more at his personal site http://www.daveramsey.com

Everything is getting more expensive today. From gas to groceries, our hard-earned dollars are challenged to stretch further. Now, we may be able to ride a bicycle around town if we can’t put gas in our cars. But, we have to eat. There’s no getting around that. So, we have to find ways to spend less on groceries while still getting the things that we need to feed ourselves and our families. Here are six money saving tips to try the next time you go grocery shopping.

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Gas prices aren’t the only thing that has gone up in recent months. With it has come a slow but steady increase in the cost of groceries as well, along with anything else that must be transported from one location to another. Everything from milk to meat has gone up and with it the amount of money we must allocate for groceries each month. Now is a great time to get into a few little habits that will add up to big savings at the cash register.

If you’ve thought that coupons were a big waste of time, now may be the time to rethink it and give these little money savers another try. Yes, coupons can save you money, but use them carefully. Don’t let the fact that you have a coupon for product X bully you into buying it if you don’t really need it. Figure out what you really need from the store and then go through your coupons. Only grab those you actually need and weed out any coupons that have expired as you go along. Make it a habit to clip coupons once a week and stick them into a little box or an envelope.

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By Dr. Taffy Wagner

I read this article earlier last week that shared how affluent parents demand prenups for their engaged children. I must admit as a personal finances educator and wife of thirteen years this article was screaming at me. It was saying, “Since I have already decided I am not going to stay with you, why don’t you confirm it to me and sign on the dotted line so I know what I am getting.”

I ask you what happened to “for richer or for poorer”? Newsflash – LOVE is a CHOICE, it is not an emotion. If you are marrying because of an emotion, you are already headed for trouble. When you choose to love someone it is not based on conditions. Make sure that your relationship is based on the right foundation.

This story had me so concerned that I posted a brief overview about it and asked some of my friends what they thought. Here is what was said:  “I think that is really said, family is the core of our society”, “Ridiculous is what I say, I would find someone poor to marry”, “Please tell me you’re kidding, will the helicopter parents ever land.”

It is always interesting to see what money can do to people. Clearly, the affluent are thinking about it belongs to me and I am not sharing regardless if a ring is on that finger.
Sounds to me as if these parents are “too involved” in their children’s relationship and will be overbearing throughout the marriage. I want the spouses to talk to one another about their finances in the engaged state. When an engaged couple are preparing to walk down that aisle, they already have stress of planning for a wedding. They should not have to even think for one second about their parents dictating their life.

Love is a choice and says it does not matter if you are rich or poor, happy or sad, in sickness and in health – I LOVE YOU no matter what. I have to wonder if in some of these relationships if the tables were turned on the affluent parent and the spouse who did not have as much income all of a sudden made three times more than their son or daughter, how they would feel considering they demanded a PRE-NUP. Be careful what you ask for.
Copyright 2008, Dr. Taffy Wagner is the Creator of Money Talk Before The Commitment Walk and Debt Stops At The Altar financial education program.

By Denise Michaels

Can you stick to your budget this month and make Christmas 2008 more fun than ever?  Yes, it’s possible.  All you need is a little ingenuity and a return to some of the old-fashioned fun that used to be a staple in December for generations but seems to have gotten lost in this era of hyper-commercialism.

Creative Ideas for Christmas Giving

Many people have decided to cut back on what they spend this Christmas and I applaud that decision. You might be thinking you’ll have to slog through a rather Scrooge-like season.  But, it doesn’t have to be that way. The last few years I’ve kept to a very close budget for the holiday season just because I didn’t want to stress over it. I don’t use credit cards or go into debt. Somehow we always have a great time and certainly FEEL the holiday spirit. Just go back to some of the traditions of yesteryear before Christmas became all about the money. Here are a few suggestions to make your Holiday season bright:

Start playing Christmas music around the house now.  Set your car radio to the “all Christmas music all the time” radio station.

Sing while you’re cleaning up the kitchen or dusting. My husband and I can now sing harmony together on “Silent Night,” “Joy to the World” and “Deck the Halls.”

Make lots of Christmas cookies together with the kids. Let them do the icing and decorating. You’ll use ‘em later when company comes over. Cookies freeze well in ZipLoc bags.

Bake Pumpkin-Nut bread. Or, Cranberry-Orange bread.  Or both.  These old-fashioned holiday treats make a great money-saving gift or are an easy addition to a buffet or brunch table. They freeze well, too. Wrap in a red and green plaid bow from a crafts store with a card that includes the recipe. Give to your kids’ teachers, neighbors, the UPS guy - whoever matters - but you want to keep your gift simple and inexpensive.

Get a special holiday coffee or tea and drink it all month. I love Celestial Seasoning Sugar Plum Fairy tea - only available this time of year.  Starbucks has a special Christmas Blend, too.  Put eggnog in your coffee or tea.  There are low-fat and low-sugar varieties available.

If you already own holiday dishes and serving pieces - put them in the cupboard and store away your regular dishes for the month of December. Use your Christmas dishes every day, all month long. I have “Christmas Memories” by Spode I bought on ebay several years ago.

Wear red. Or green. As much as you can this month. I avoid Christmas clothing that screams “Ho-ho-ho!” but I’ll wear a red sweater with a Christmas pin or scarf.  After December 25th put away the Christmas-y accessories and you’ll have a nice sweater or dress to wear until spring.

If you paint your nails anyway - do ‘em in red this month.

Bunk political correctness and say a cheery, “Merry Christmas!” to everyone you meet. *wink*

Teach your kids how to sing Christmas carols - it will remind you of Christmas as a kid.

Don’t visit the mall to get you in the Christmas spirit. It’ll just put you in the mood to spend.

Avoid buying more decorations just because they catch your eye.  They’re designed to do that.  Besides, you have to store that stuff the other 11 months of the year. Yes, the decorations are tempting but you probably have enough already.

When I was younger and couldn’t afford real decorations for a tree, I baked gingerbread cookies (a little thicker than usual so they’re sturdy) shaped like gingerbread men, stars, hearts and trees. I trimmed them with red cinnamon candies before baking and white Royal icing (it gets rock hard) after they cooled. I hot glued a metal ornament hook to the back and shellacked the front. A couple dozen “ornaments” for the cost of ingredients. I went to a craft store like Michaels and bought a few rolls of Christmas-y ribbon and tied bows on the tree branches.  I got peppermint canes to hang, too. I also strung popcorn with cranberries while watching a Christmas movie one evening and hung it like garland. The whole enchilada probably costs about $15-20 rather than that much for one or two Victorian ornaments. Cookie and Candyland was my Yule Tree “theme” the first few years I was on my own until I gradually bought the decorations I wanted. Those same gingerbread cookies held up for several years stored in a dry place.

Take stock of decorations that need to be replaced as you unpack them. Buy them early the morning of December 26th when they’re marked down 75 percent.

As you gradually purchase decorations – focus on creating a collection of items that aren’t fragile.  This way they’ll last year after year. I especially avoid delicate glass bulbs and buy items made of plastic, fabrics or other more sturdy materials.

Make an important celebration of decorating your Christmas tree. Play holiday music and pop a big bowl of popcorn as your children hang ornaments around the tree. (You can always re-arrange them after they go to bed. *wink*)

One decoration every family who truly celebrates Christmas should have is a Nativity scene or Creche. After all - it’s the reason for the season. Let the kids place the figures one evening after dinner while telling them the story of the Baby Jesus in the manger and what it means to you. (If you don’t have one - go out early December 26th and get one on sale for next Christmas.)

Keep your outdoor holiday decorations basic. A welcoming wreath is simple and easy. Who needs a massive electric bill in January from all the lights?

Limit your Christmas decorating to the common living spaces in your home. Generally the foyer, living room and dining room. After all, do you really need Christmas sheets and comforters? Christmas bath towels? It’s silly. Focus your holiday decorating on the main rooms and make a bigger impact with less cash. Less time taking it all down, too.

Hang mistletoe under a doorway or entrance to a room that’s in a high traffic area.  Remember, any time you meet the one you love under the mistletoe you’re supposed to kiss!

Plan on a fun caroling outing in your neighborhood with friends, young and old. Print out the words to the holiday songs everyone loves from online.  Let the grownups carry a lit candle if you can do so safely.  Don’t forget your reading glasses if you need them.

Celebrate afterwards at your house with cookies, Pumpkin-Nut or Cranberry-Orange bread and hot cocoa or hot apple cider (coffee for adults). Keep it simple.

If you come from a large family of adults suggest drawing names from a hat and agree to only buy a gift for the person whose name you pull. Set a price limit of $30-40. You can save a huge amount of money and time and each person gets one nice gift.  Remember, Christmas isn’t about quantity or even quality.  It’s about love and light.

Look in your newspaper for a performance of a local college choir or community orchestra performing holiday music. Some larger churches put on amazing performances every year very inexpensively.

Cut back on your Christmas card list. Only send cards to family members. Send ecards online to everyone else.

To balance some of the rich foods during the holidays have some week night dinners with a very simple supper of homemade soup.

Rent DVDs of favorite old Christmas movies to watch together as a family in the evening.  Check out “Miracle on 34th Street” or “Scrooged.”  Watch your TV Guide for when good Christmas specials and movies are on TV.  Make a bowl of popcorn and enjoy “A Charlie Brown Christmas” or “The Grinch Who Stole Christmas.”

Help others less fortunate. Maybe your church or a local charity helps certain families and you can contribute time, food or make a donation. Or, serve food to the homeless at a shelter to help you appreciate what you have.

Know someone who’s really struggling? Buy them a gift card for a grocery store.  It might make the difference between whether they have a Christmas dinner with their family or not.

Help someone anonymously. Last Christmas one of my favorite Starbucks baristas (and a single mom) had a house fire the week before Christmas. I put some cash in a card and signed it “One of Your Favorite Customers” and gave it to her Manager to give her. Great Karma, too. *wink*

Never buy another cookbook again. I get all my recipes from Epicurious.com Over 25,000 recipes from Gourmet, Bon Appetit and other magazines. You can even set up your own recipe box to store your favorites.

Homemade gifts are a great way to save money.  Take stock of your skills and you’re sure to create an inexpensive gift that creates a lasting memory.

Make a colorful, fun “Coupon Book” or “Certificate” of your “services” to give. They can be naughty or nice. It could be something ooh-la-la for the one you love. A sexy massage - or whatever. Use your imagination. Or, it could be something as kind as an offer to help your mom take down all her decorations or visit for tea one afternoon. Get a box and wrap it in tissue and Christmas paper like a regular gift.  Make good on your offer without them having to ask.

Handwrite a short letter to the one you love. Tell them how you feel. Thoughtfully tell them what you love and why he/she is so special in your heart and always will be. They will treasure it more than any other gift this Christmas.

When buying gifts - stop thinking “impressive.”  Instead start thinking “loving.” It’ll help you stay within your budget and feel good about your selection. And, don’t buy what YOU would like. Buy what they would like. I’ve purchased gifts I honestly didn’t like (not my taste or color) but perfect for the other person. Those gifts are always a hit. I just smile and say, “You’re welcome!”

If you purchase from a department store - ask for the free gift box you usually get. Even if that blouse is for you - use the box for the PJs you bought for your Dad at a store that doesn’t provide boxes. If you still need more boxes the least expensive place I’ve found is Party City.

Don’t go shopping “just for fun” or “to get out of the house.” Check names off your list purposefully and stop shopping when you’re done. Don’t tempt yourself needlessly. If you can shop in the morning on the weekdays - the malls are almost never crowded then.

My mom used to let us open a gift on December 23rd. It was always something new to wear for the big family dinner. A new dress, sweater or PJs for Christmas morning. But it was fun to open one gift before all our friends. If you plan to buy something new for your kids to wear anyway – wrap it as a gift and make it an occasion.

Light candles. There’s nothing like the glow of candles wherever appropriate in your home to add holiday magic along with the music.

On a crisp, clear evening after dinner, dress warm and go for a walk with someone you love. Hold hands. Enjoy the lights and Christmas displays in your neighborhood. Look up at the stars and sing “Silent Night” together.

If you have Jewish friends make a bunch of sugar cookies iced in blue with silver dragees (those tiny silver balls) and deliver them with a white Pointsettia. (Hanukah is December 22nd.)

Attend your church’s candle lighting ceremony - whether it’s December 24th or a couple days before. Even if you’re not a member - go. Put it on your calendar. Sing while holding your candle - and feel surrounded and connected to the real spirit of Christmas.

Try your hand at making a special Christmas coffee cake for breakfast Christmas morning. Make it a tradition every year. Also, I always serve cranberry juice in fancy goblets for Christmas breakfast, too.

Have the whole family get dressed up for the big holiday dinner. They may gripe at first but they’ll know it’s a special occasion and the grandparents and older family members will appreciate it. The days before the big dinner are a great opportunity to teach your kids good table manners that will last a lifetime.

Whether you open gifts in your family on Christmas Eve or Christmas Day savor the action by having people open gifts one at a time so everyone can “ooooh” and “aaaah” over them. And insist those who get clothes or anything wearable “model” their new stuff.

After the present opening at your Christmas get together play a fun, silly game like Charades. Divide your group into two teams - the men and the women. Other fun games are Pictionary, Trivial Pursuit and Balderdash.

Vow to use all your holiday leftovers wisely in meals the following days. I make a great “Breakfast Hash” with sauteed dressing, leftover veggies cut up and a poached egg on top.

My Christmas tree is festooned in red, white, crystal, silver and gold.  On December 26th, I remove all the red ornaments.  I also replace the red and white wool felt tree skirt with a swath of a couple yards of silver lame fabric I bought a few years ago.  In five minutes my tree is transformed from Christmas cozy to New Years Eve chic.

Make December 26th a game day for the kids to play with their new toys. They’ll appreciate them more that way. Let them invite their favorite friend or cousin over to share their new toys, too.

Take a little quiet time for yourself between Christmas and New Years to write your goals for 2009. I visit the lobby of a luxurious hotel, get a cup of tea and write - surrounded in opulence.

Have a holiday tea for your girlfriends the week between Christmas and New Years. Serve tea, leftover cookies, Cranberry-Orange or Pumpkin-Nut bread, maybe a couple packages of those mini-quiches you get in the frozen food section of the grocery store and some fresh strawberries. You’re set. Serve on your fanciest serving pieces.  You own them already why not use them?  Don’t own them?  Borrow from a few neighbors and invite them to the tea. (Much less expensive than a typical Open House with a groaning buffet and booze.)

To make your tea fun and meaningful, buy a poster board for each woman.  Ask them to bring a stack of old magazines and their New Years resolutions in mind. Have them cut out pictures of their resolutions or goals from the magazines as they sip tea and nibble on cookies and make a Vision Collage they can look at to inspire them to stick with their goals throughout the year.

Arrange an inexpensive New Years Eve potluck party. Send out invites on Evite.com Have people bring a dish to pass. Have a theme that keeps it inexpensive and casual. Mexican food is a great choice. Make something homey like a Chicken Enchilada casserole, for example. Others can bring dishes to complement. Chips and salsa.  A green salad. Cinnamon cookies. Serve more leftover cookies and Cranberry-Orange or Pumpkin-Nut bread for dessert. Have friends bring booze (if they drink), too. Provide the basics, the home to gather in, non-alcoholic beverages (don’t forget coffee), the music and the TV to watch the ball drop on Times Square at midnight. Aim for 10-15 people. You don’t have to fill the house to overflowing to have a good time.

If they’re old enough - get your kids involved taking down the decorations and packing them away for next Christmas.

Yes, this is a long list.  However, the idea isn’t to do it all, but to inspire you.  If you’re on a budget you may not want to do all the things on this list.  Instead, go ahead and pick and choose the ideas that will appeal to you and your family and make it your merriest Christmas season ever.  Even on a budget.

Denise Michaels

Denise Michaels loves the holidays and spreading Christmas cheer this time of year.  She is author of the business bestseller “Testosterone-Free Marketing” and is a marketing mentor and a professional speaker.  Find out more about Denise at http://www.MentoringwithDenise.com or discover her book at http://www.tfmbook.com

Copyright 2008, Dr. Taffy Wagner

Given the current economy, many of you already know it is taking its toll in various forms on households – job loss, kids are being taken out of daycare because it costs too much and it is causing stress in the marriage. Yes, I said it more STRESS. When financial challenges and issues surface a couple of things can happen:
a) Blame game – one blames the other for the financial issues in the household
b) Second job – primary “breadwinner” gets a second job if they do not have a part-time business
c) Avoidance – it is not discussed at all.

Money Talk in Marriage

Personally, I believe the husband and wife should come together and make some hard choices. Let’s just say for example the husband has lost his job and have not gotten employment and you want to make sure everything is covered. What do you do? I recommend you take a look at your complete financial picture and see if it fits in these parameters:
a) No more than 36% of your monthly income should go towards debt
b) 10% of your monthly income should go towards savings or emergency fund
c) 15% to 20% should go towards groceries

If those numbers are out of bounds, be honest and see where you can reduce expenditures. I know for us one of the area that we would reduce is groceries because we probably are higher because my husband has always liked to out to restaurants. I would cut back on that and put more groceries in the house.

Understand it is tough when a man loses a job because it affects them even greater. As you are talking about the household finances it is not necessary to point the finger but be solution oriented. Money should not become bigger than your marriage. When you stood at the altar, you said “For richer or for poorer.” Believe me there will be seasons of plenty in a marriage and seasons of tightness. You are not alone. Talk about money throughout the life of your marriage not just when a problem arise.

Copyright 2008, Dr. Taffy Wagner is the Creator of Money Talk Before The Commitment Walk and Debt Stops At The Altar financial education program.

Women are asking me for advice on cooking, baking and gift-giving this Christmas. If there’s one tip I can offer you, it’s this.

*STAY OUT OF DEBT!!!

Unless you’ve shopped during the year, or unless you’ve diligently saved money to spend at Christmas, you will be tempted to do what many Americans do in November and December: They push prudence and wisdom aside to indulge in overspending.

Is it really worth it?

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By  Bill Young

You probably won’t get a Christmas Bonus this year on your job or self employment; but you can get one from the IRS!

If you qualify, you can get a Christmas Bonus of $200-$1,000 this Christmas season, from the IRS. The average is $400.

Actually, this Bonus is available to you Every Month if you have a job or own your own business.

What would you do with an extra $200-$1,000, take home pay every month on your job?

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By Justin D Scarborough

It seems like there is a new company laying off employees each day in the news. While there are certain industries that are especially prone to layoffs right now, just about everyone is at risk in this difficult economy. Unfortunately, many people today are finding out how important having money saved in a safety fund really is. Many of those who are losing their jobs are finding out this important lesson too late.

As the saying goes, the only certain things in this world are death and taxes. That rings especially true today, as the economy and stock markets are as unpredictable as ever. When things go bad for a company, even the best of employees can lose their jobs. No one is really safe from the ax when a company finds its back up against the wall financially. Given this uncertanty in the job market, it is very important to have money saved in a liquid account that is designated for just this situation. The money should not be touched for any reason other than an emergency or in the event of a job loss.

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