Recovering from Holiday Debt

Recovering from Holiday Debt

If you're like most people, you spent a little more than you had planned over the holidays.

After spending your budget, there is always another must have item demanding to be bought. That leaves you with unplanned debt on top of your already larger-than-should-be debt. What to do?

The fastest and easiest thing to do is to take a look at your cash management. Yep, that means revisiting your old pal - the budget :) It's time to hunker down and face your finances. Find out what your current account balances are, how much you owe and an update on how much you are bringing in. Now take a look at where you can tighten the purse string strings just a little to make up for the over-spending.

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Spending Plan for Valentine’s Day

Spending Plan for Valentine’s Day

With typical expenditure projected to increase over 8 percent to almost $200, the Toronto Sun anticipates romantics will be spending more this year to purchase gift cards, flowers and chocolates on Valentine’s Day. And together with these increasing costs four million people in the US are likely to ask someone to marry them or be proposed to on 14 Feb. About half of the consumers that were surveyed plan to buy Valentine’s Day gifts this year, and 46 percent plan to eat at their favorite restaurant to commemorate the holiday.

Business Wire reports that Sonali Chakravorti, Vice President at American Express, said, “Whether people are planning to get engaged, or just celebrate the holiday with flowers and a night out, consumers are telling us they can open their wallets a little wider for Valentine’s Day.”

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Discipline and a Spending Plan Needed to Cope With Holiday Debt

Discipline and a Spending Plan Needed to Cope With Holiday Debt

Thoughtful presents, affectionate reminiscences and tasty food of the holiday season are all behind us. Sadly, statements with holiday spending have already flooded mailboxes nationwide. This time of year used to be filled with financial anxiety for my family, but we’ve been able to stay on target since implementing our spending plan. You, too, can become successful at budgeting at home if you develop a plan and stick to it. Here’s how you can dig your family out of holiday debt:

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March Break Fun Affordable Ideas

March Break Fun Affordable Ideas

If you're deciding to have a stay-cation or even want to find some fun ideas to do during down time on your trip you might like the following:

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Post-Christmas Blues (due to debt)

Post-Christmas Blues (due to debt)

There's nothing like having a great Christmas full of happiness, family and giving and then having that fire dowsed like a sugar high crash by the realization that you have a big debt that's been multiplied by Christmas gifts.

Often it won't manifest itself until after New Years since we're still in vacation/party mode. But don't let a looming sense of debt ruin your vacation and dampen your spirits. The way to overcome that feeling is to put forth at least a minimal effort to understand where you stand financially, what your plans are for the immediate future and be on a plan to execute those plans.

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Should I Buy Lotto Tickets or Holiday Tickets?

Should I Buy Lotto Tickets or Holiday Tickets?

I was at my local convenience store on the weekend. The lady behind the counter was telling me of all the different winning tickets that were bought from her store (winning amounts various including some quite large amounts). She was very proud and thought her store must be bringing good luck to a lot of her customers.

I wondered how much people annually spend on such tickets of chance like Lotto tickets and so I looked up some statistics on the internet.

Here's a link showing some household statistics for Canada and other information like what the Lotto proceeds are spent on.

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Still trying to figure out what to give?

Still trying to figure out what to give?

You often run into different gift giving situations where you don't know what to give. Maybe the person has the ability to get what they want whenever they want. Maybe they're a very picky person to buy for. Maybe you don't know what to get for that age. In our case, for Christmas, we have our 5 kids to buy for and so that could be very expensive so we thought we could get a gift for the whole family.

Some ideas we've come up with:

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Gift Alternatives:Gifts that Keep on Giving

Gift Alternatives:Gifts that Keep on Giving

Christmas Day arrives.

Sally gets a new doll.

Johnny gets a new truck.

By mid January they have joined the pile of their other toys leaving the purchaser wondering if there is a better way, a better gift to give that will not be so short lived. There are some better ways. You can be the one to give a gift that ripens with time. A gift of this nature will be truly appreciated in crucial times of people's lives, not just in the moment.

Here are some suggestions for gifts that keep giving after any initial joy of new toys wears off:

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Global Giving on a Budget - Just in Time for Christmas

Global Giving on a Budget - Just in Time for Christmas

Technology has made it easy to stay much more connected to more people throughout the world. Gift giving, as wonderful as it is, can be challenging for people in different areas of the world. Often by the time you have purchased the gifts to give away, you have to pay an arm and probably two legs for shipping costs (which can be more expensive than what's in the box).

Here are some ways to reduce the cost of spreading gift giving joy around the world:

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Costly Christmas Food Outings Adding Up?

Costly Christmas Food Outings Adding Up?

Christmas is probably my favorite time of the year; it brings joy, kindness and warmth to colder weather and hearts . The Christmas season also bring family and friends together, usually involving elaborate dinners or trips to restaurants for group celebrations, not the mention the fast food consumption during shopping trips. Its great in the moment, but we can be left with huge dents in our budget over the food costs which add to an already very expensive season.

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