Save on Stocking Stuffers
November 30, 2011
You’ve done a good job planning your gift list. You’ve gotten all of the gifts you wanted for everyone and you’re still under budget. Then you realize, “Oh no! What about the stockings?” You then run out at the last minute, only to blow your budget on smaller overpriced items. Let’s avoid that scenario this year by planning some easy, inexpensive solutions for the stockings.
Coupons
Coupons make great stocking stuffers, and usually come at deep discounts. Groupon.com has great coupons and excellent specials during the holiday season. Just be careful you don’t start buying coupons for yourself as this can be very tempting. Also, if you already have some coupons for yourself that you haven’t used this may be a great opportunity to re-gift them again. Just make sure that the coupons you were saving don’t have expiration dates on them. Otherwise you’re not doing your reputation as a thoughtful gift giver any favors. You also have tons of free coupons at your disposal by offering your services in the form of a coupon. People really appreciate these kinds of coupons (especially new parents) because they really add a personal touch. Remember that time is an extremely valuable commodity in today’s world, and offering some of yours is considered more thoughtful than ever.
Double Down
When thinking of stocking stuffers for the kids, try to think about items that you would probably be buying for them anyway. Toothbrushes, toothpaste, and dental floss are examples of items that can be used as stocking stuffers. School supplies are also perfect for this. And although pens and pencils don’t get the reaction of the Xbox, they are practical for you and they stuff the stocking.
Dollar Days
Don’t forget about the dollar store when it comes to stocking stuffers. There are a lot of different types of items at the dollar store and all are at deep discounts. Also remember to find the clearance rack at the dollar store as you might be able to fill all of the kids stocking from this area alone.
So try a little pre-planning when you’re stuffing the stockings this year, your budget will thank you for it.
Holiday Décor on a Budget
November 23, 2011
No matter what holiday you’re celebrating this season, most of us are going to be doing some decorating around the house. But going to the store to buy holiday decorations in November or December will surely put a large dent in the overall holiday budget. So here are some ideas about different things you can do to save some money on holiday décor this year.
Use What You’ve Got
It’s obvious that holiday décor items are overpriced during the holidays because that’s when demand for them is highest. But a quick look around the house will probably yield enough items to make plenty of decorations. Making holiday candles can be a good place to start. If you take an old washed out jar, insert a candle, and tie a ribbon around the top, and now you have a nice holiday candle. You can also rest the candle in nuts, peppermints, or sand to make your candle look even better. Also, if you’re into sewing or arts and crafts, you can make garlands out of spare felt. Cut some holiday shapes out of the felt and hang them across string or a line to make colorful holiday themed wall hangings. If you want to add some depth to your shapes just cut out two of each, stuff with old dryer sheets, and sew them together. Also, take a tip from my dentist. He always wraps the pictures that were already on the wall beforehand with wrapping paper. It seems cheesy to do, but it always seems to add a holiday atmosphere to the room without costing a lot of money.
Non-Traditional Shopping is Wise
A good way to save on holiday décor is to shop for it in untraditional ways. For example, try to pick up some teddy bears at the thrift store. After a quick wash it only takes a few felt scraps and a ribbon and you’ve got some holiday themed bears to display. By repurposing an old item with some ready available extras you can have some holiday decorations on the cheap.
With a little resourcefulness and imagination you can decorate for the holidays this year without having to blow your budget.
Preparing for Holiday Shopping
November 21, 2011
Peace on Earth, goodwill to men. Try running that phrase through your head in a Toys R Us on Black Friday and see if it rings true. The holiday shopping season is fast approaching and chances are you’re not really looking forward to all of the madness that goes with it. But with a little planning this year you can make your holiday shopping experience less stressful and less expensive.
He’s Making a List
Efficient holiday shopping always starts with a list, just ask Santa! Try making a simple spreadsheet with everyone you need to buy gifts for and how much you’d like to spend per person. The process of making the list is a good starting point, and it can help you to do some initial “weeding out” to help reduce either the number of people on your list or the amounts that you’re spending per person. You can also look to combine gifts or give a joint gift to multiple people. You can give a video game to siblings that both can enjoy. How about a board game that the whole family can enjoy? You can also combine gifts like buying a race track for one child and matching race cars for another. By combining gifts or giving them jointly you can save a bundle this year.
Put Plans Into Action
Once you have an idea about whom you’re shopping for and how much you’re spending, it’s time to put your plan into action. The sooner you can do this, the better off you’ll be. Remember that the earlier you start your shopping the more time you’ll have to spread out the cost of the holiday. Also a lot of us have felt the frustration of having to drive all over town at the last minute to find that one of a kind toy right before Christmas. If it’s too late this year, you can definitely try to do this next year.
For more money saving tips on holiday decorations, gifts, and stocking stuffers be sure to check back in with the Advantage CCS blog.
Taking Advantage of Layaway Programs
November 7, 2011
It’s already November and the holidays are quickly approaching. If you have not set aside as much money as you had intended for holiday shopping. It might be a good idea to take advantage of store layaway programs for your shopping
With the downturn in the economy, store layaway programs are again becoming a popular alternative for consumers. If you haven’t saved enough money for your holiday shopping, using layaway for gifts might keep you from using credit cards for your shopping.
Store layaway programs first began during the Great Depression, but disappeared in the 1980s with the easy availability of retail store credit cards. With the credit cards, consumers could happily take their purchases home with them. However, with creditors being more selective about to whom they give credit cards, layaway could be an alternative resource for holiday shopping.
Not all stores offer layaway, but most of the major retail stores now do, at least for the holiday shopping season. Using layaway is not free. In most cases there is a service charge, usually around $5.00. Most layaway contracts last eight weeks and require between a 10% and 20% down payment. Usually, there is a minimum amount you have to spend for your items to be eligible for layaway. In some cases, the purchase must total $50.00 and items costing less than $15.00 cannot be put on layaway.
As with any service, it’s important to read the fine print before you sign the contract. Is there a cancelation fee and if so, how much? How often are you required to make payments? Some stores require payments on items every two weeks. How long will the store hold your layaway items? If you’re shopping the day after Thanksgiving, can you put items on layaway? At one major retailer, the answer to that question is no.
If you are going to use layaway this holiday shopping season, it’s a good idea to have a plan. It would be awful to plan on using layaway, but then find out you can’t afford the required payments. Before you start your shopping, make a detailed list of who you are shopping for, what you plan on buying and how much it will cost. Total the cost and add $5.00. Divide that number by 5. Your result is what the down payment and what the twice monthly payments will be. For example, if you plan on spending $500, plus the $5.00 service charge, a 20% down payment would be $101. If you’re on an eight week plan, you would need to pay $101 every other week or $202 a month. Do you have enough cash flow to make these payments?
In some instances, layaway programs are also available online. Merchants are contracting with online companies to manage layaway programs and store merchandise. The consumer shops through the online layaway site, makes purchases and agrees to have the payments deducted directly from their bank account. The purchase totals usually include taxes and shipping costs. Most e-layaway programs are available year round and the consumer may be able to adjust the number of payments to be made. However, be wary. There should be no charge for the consumer to register for the service and make sure you read the terms and conditions before signing onto the program.
While layaway is a good alternative to using credit cards for your holiday shopping, it still requires some thought and planning. The best solution for holiday shopping remains setting enough money aside and using cash for your purchases.
What to Look for When Inheriting Debt
September 23, 2011
A person’s personal debts are their own. That means that no one can inherit them including their children. The only way that a child can be responsible for a debt that a parent owes is if both the child’s name and the parent’s name are on the credit card account, bank account or mortgage. In the event that the parent dies, whatever is left on the loan will be the child’s sole responsibility.
A parent and a child may both be named on an account, but only person was responsible for all of the account’s activity. The survivors are under no obligation to pay this bill, but the creditor may not agree. In that case, the survivors can inform the creditor that the deceased’s assets won’t cover the debt and that they won’t be paying it; they will also need to send them the copy of the deceased’s death certificate.
Because it is the parent’s estate that will have to settle all debts with the creditors, the money to pay those creditors will come from the parents’ assets. If the children receive these assets first, their parents’ creditors are entitled to go to the children to obtain those assets as payment. The courts will order that the creditors be paid because they are entitled to receive payment first before any remaining assets can be distributed to the beneficiaries.
To not be considered the responsible party in a parent’s debt, people must not pay their parents’ bills from their own accounts. When children do this, the creditors can assume that the children have decided to take complete responsibility for their parents’ bills. After the parents die and these creditors have balances left on their invoices, they will look to the children to finish paying those bills. Children can help their parents pay their bills by depositing money into the parents accounts. Then the parents can pay these bills on their own, and the children would not appear to be responsible for them.
The above-described scenario can take place when parents put their assets into a trust. Although the trust is meant to protect these assets from being depleted by taxes and other means, it can’t keep the court from seizing the assets and ordering them to be paid to the creditors. This is particularly troublesome when the children didn’t know that there were any debts to be paid and they spend the money in the trust that they thought they owned. There’s the real possibility that they will lose the money they received from the trust and have to liquidate the assets they purchased with it. To avoid this unpleasant happening, children must have a frank discussion with their parents about their debts.
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