Best tips for last minute Christmas shopping

It is beginning to feel a lot like Christmas! Shopping centres a decorated, Santa is around to take photos with the children, shops are playing carols and more…

I do think it is a little early to have all of that. I’d prefer they started at the beginning of December. But hey, it is not about the real meaning of Christmas, it is all about money. Oh, sorry about that, my cynicism is starting to show.

Here are a few tips to help you with your Christmas shopping if you are a little unprepared.

Make a list

First first thing to do is to determine how much you can realistically spend on your Christmas shopping overall. Be realistic.

Once you have done that then list all of the names of family and friends to whom you will give presents to and assign an amount to each person. This bit can be a bit of fun…

When you finish with the list make sure you are not overspending. Adjust the list until you are happy with it and within budget.

Do not go over budget

Don’t let your emotions run over you. If you are following your budget you cannot let your emotions run over you. I know this does not sound very nice but it is a fact.

Overspending will break your budget, get you into credit card debt, if you are using your credit card, and create a precedent. Your friends and family will expect expensive gifts from you every time.

Pay it all with cash

One way to increase your chances of following your budget is to carry only cash with you. Don’t go shopping with your credit cards, leave all of your cards at home.

Every time you go shopping  know which presents you are buying, know how much you are going to spend and take the exact cash you need.

This way you will follow your budget and you will not regret it later on.

Shop by yourself

There is research that indicates that people who shop alone have a tendency to spend less. Needless to say, go shopping alone.

Your family or friends will distract you and potentially influence you to buy something that is not in your budget.

Don’t buy presents for yourself

When you go to the shops you will certainly see stuff that you like. Don’t fall into the temptation of spending your money on the things you want. If you family and friends ask what you want for Christmas, get them to buy the things for you. Al so remind yourself that this is the season for giving, not getting.

Be creative

If you are really low in cash, or just want to do something different, search on the internet about do it yourself Christmas gifts. This will cost you only a fraction of what you would spend on the shops and, to me anyway, are much more valuable than just stuff from the shops.

Gifts you make will have your own personal touch and you can make them to suit to person receiving the gift. There is no shame in that!

I think that the main idea is for you to enjoy the season and bring a smile on the faces of the ones you love. This does not need to come from expensive gifts. Something you make to suit the person will have a much more long lasting impression than something that will be used a couple of times and thrown away.

Don’t make Christmas shopping a torture, don’t break the bank and make it part of a wonderful festive season.

Have a great time!

Technorati Tags: personal finances,financial independence,christmas

Financial Independence Compilation

Welcome to the October 24, 2010 edition of financial independence.

Your Financial Independence Articles

Teach your child how to make make money - Want your child to be a millionaire? All parents want the best for their children so why not teach them how to manage and  make money?

Here are a few tips to help you to raise a millionaire.

Making money through blogging – developing highly profitable topics using Google AdWords - If you are into blogging you know that it can be very difficult to make money. You’ve heard it many times that the secret is on attracting the crowds. There is more to it, you also have to ensure that you are choosing topics that are highly profitable.

There are many articles on the web that tell you how to attract traffic into your site. Most of them say that the more traffic you get the more chances you have of making money either through advertising or via selling some sort of product. It is true, the more people come to your site the more chances you have of making money.

Thriving 30 million dollars business from a school project. Find out how she did it -  At 16 years of age, Lindsay Phillips had an idea to create flip-flops with straps that could be changed during a school project. It is project that this year her company will bring $30 million in revenue says AOLSmallbusiness.

The idea is very simple, you buy one pair of flip flops and renew their appearance with new straps. They look new and different every time and can be worn with different clothes depending on the occasion.

Her company is now producing other products such as shopping bags, scarves and sandals for children.

How to make some extra money - Do you need some extra cash. I think we can do with a little extra cash. The following sections describe some of the strategies you can use to make some extra cash.

Reader’s Sponsored Articles

Rick- presents Best IRA Rates posted at Stock Tips, saying, "To get the best IRA rates, portfolio diversification is necessary. Find out how to get the best IRA rates and IRA returns today."

Youdondour torres presents 1 HOUR Payday loan for fast cash now! posted at Pay Day Loans For You Today!.

Youdondour torres presents Payday advance for those with poor credit! posted at Quick and easy payday loan!.

Youdondour torres presents A Cash advance with no credit check! posted at Quick and easy payday loan!.

Mike Piper presents Types of Annuities: Annuity Definitions posted at The Oblivious Investor, saying, "What are the differences between the various types of annuities? Which ones are useful, and which ones are a raw deal?"

Youdondour torres presents 1 hour paday advance for quick financial assistance! posted at Pay Day Loans For You Today!.

Youdondour torres presents Quick ways to get cash now! posted at Quick and easy payday loan!.

ABConseil presents THE AMAZING WIDGET�S REVIEW :AutoBlog posted at AutoBlog, saying, "TheAmazingWidget.com claims to offer a breakthrough new way to generate �semi autopilot� traffic and commissions, with the launch of their new Software and accompanying Blueprint. Further, they claim to offer a dead simple way for virtually anybody to begin placing their oddly named �Amazing Widgets� in hundreds of free spots around the web, as a foolproof way to make money on autopilot once in place."

BudgetSnob presents Retire Rich ? Let Everyone Else Work posted at Budget Snob.

BudgetSnob presents Close Your Budget Gap posted at Budget Snob.

Robert Alan presents How Do I Make Bad Marks on My Credit Go Away? posted at Credit Card Assist, saying, "How to make bad marks on your credit go away in 6 simple steps."

CreditShout Kevin presents How to Deal with Credit Card Customer Support posted at CreditShout.

Victor del Rosal presents A social experiment: your finances solved posted at Internet Empire Formula, saying, "This article poses a hypothetic questions: if your financial life was completely resolved, forever, would you stop working? It analyzes the true meaning of work."

Sam presents New !! Is an Annuity Insurance Retirement Plan Best for You? Five Essential Points posted at Surfer Sam and Friends, saying, "Thanks for including my article on annuity insurance retirement plans. Here's an excerpt... Are you afraid that you will outlive your money? Are you worried that you might lose your savings in the stock market and face retirement broke? The past few years in the stock markets have upset the retirement plans of many investors. Today, people are living longer than ever. Seniors and baby boomers are concerned that they have enough money to support them during a long life. Annuities are an investment option for these people. Annuities guarantee that you won't outlive your income, no matter if you live 100 years or longer. Furthermore, with an annuity you do not risk losing the nest egg you have accumulated."

Jeff Weber presents Avoid Balance Transfer Mistakes posted at Smart Balance Transfers, saying, "Avoiding these three balance transfer mistakes will help you save the most money and avoid hurting your credit score."

nissim ziv presents How to Present Yourself in an Interview and Impress the Interviewer? posted at Job Interview Guide, saying, "When you are in the process of preparing yourself for your job interview, one of key prep steps is practicing your interviewing performance and reshaping your presentation level in order to create the best positive impression on the interviewer."

Madeleine Begun Kane presents Pigheaded Limerick posted at Mad Kane's Humor Blog.

Alexander Peter presents Catering Trailer Insurance posted at Catering Trailer Blog, saying, "If you are thinking of starting your business one important thing to consider is insurance. This article provides some advice for catering trailer owners."

David de Souza presents 5 Steps To Getting A Tax Rebate posted at UK Tax Blog, saying, "Are you due a tax rebate? Our guide will help you claim your tax refund"

FMF presents A New Rule-of-Thumb for Renting versus Buying? posted at Free Money Finance, saying, "Does this "new" rule for renting versus buying work?"

Marvin Grossman presents That's gross! Why home insurance won't pay for disgusting problems posted at Insure.Com Home Insurance Articles, saying, "Rats, mold, bed bugs? Here's why home insurance won't pay, and some exceptions to the rules."

Jim Nariel presents How you can Build a Successful Work from Home Business Now posted at Point and Click Program Revealed, saying, "Blog post on how to start a successful on line business from home"

Joanaa Tiger presents Top 10 Financial Blogs for College Students posted at Criminal Justice Degrees Guide.

BWL presents 4 Habits of Millionaires posted at Christian Personal Finance, saying, "This article looks at how millionaires really spend their money..."

Arjun Rudra presents Statistical Arbitrage Pairs Trading With Michael Kapler of SciVest Capital Management posted at Investing Thesis, saying, "While you may have heard of simple pairs trading which involves going long one security and going short another, it’s the statistical arbitrage aspect that you’ll be introduced to today."

FIRE Getters presents Tax FREE Money Market Mutual Funds! posted at FIRE Finance, saying, "Most astute investors are aware of municipal mutual funds also known as MUNIs. These funds invest in term debts issued by various state and local governments. In general dividends and gains from muni funds are exempt from federal as well as state taxes."

Jason @ Redeeming Riches presents 8 Financial Myths to Discuss with Your Kids posted at Redeeming Riches, saying, "Teaching kids about money can be a tough task to tackle, especially with these myths."

Barb Friedberg presents Can the Average Joe/Jane Expect Price Changes When the Dollar Fluctuates? posted at Barbara Friedberg Personal Finance, saying, "Understand the relationship between US dollar and how it MIGHT impact future prices. Use this knowledge to help you toward financial independence."

freefrombroke presents What Is A Reverse Mortgage Loan? posted at Free From Broke, saying, "What a reverse mortgage loan is and who it is for."

Joe Morgan presents Living on a Single Income: 7 Years and Counting. posted at Simple Debt-Free Finance, saying, "Some tips and lessons from 7 years of living on a single income with a wonderful wife and 3 children. It's not easy, but it's not impossible either."

PT presents Meeting with a Fee-Only Certified Financial Planner, Part 2: Planning Session and Retirement Recommendations posted at Prime Time Money.

That concludes this edition. Submit your blog article to the next edition of financial independence using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Technorati Tags: make money,blogging,business,mortgage,debt-free,financial independence money blog carnival

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Financial Independence Compilation

Welcome to the September 19, 2010 edition of financial independence.

Bruce presents Government Mortgage Assistance with Payments | Government Mortgage Help posted at Government Mortgage Help, saying, "Mortgage Help from the Government to assist you in keeping your home from mortgage foreclosure during this recession"

No Trust Fund presents How Much House Can You Afford? Part 1: Can of Worms posted at Where's My Trust Fund?.

Wenchypoo presents Cheapest Groceries This Side of a Dumpster posted at Wisdom From Wenchypoo's Mental Wastebasket, saying, "More frugal living tips."

Silicon Valley Blogger presents Transferring Your Brokerage Account? Switch Brokers With Ease posted at The Digerati Life, saying, "Thanks!"

BackTaxesHelp.com presents Basic Guide For Taxes on Vacation Homes posted at Back Taxes Help.

money and finance

Hussein Sumar presents How to Better Understand Roth IRA Conversions posted at Roth IRA, saying, "Roth IRAs and their sister retirement plans Roth 403b and Roth 401k offer oustanding retirement investing choices for American workers & savers. While most people have heard of these plans, they do not exactly know how to take advantage of them, or yet better understand them. This becomes even more difficult when an employee transitions from one job to another company while leaving behind his retirement plan with the old company, not knowing of the choices available."

Sun presents Credit Card Rewards: Gainers and Losers posted at The Sun’s Financial Diary.

Moneyedup presents How To Protect Your Savings From The Nursing Home posted at MoneyedUP, saying, "Nursing home costs are on the rise. Learn how to protect your savings in retirement."

Alexander presents How to Enroll in a DRIP Program posted at Dividend Stocks, saying, "DRIP programs reinvest your dividend back into the stock. Learn how to enroll."

Tim Chen presents Rewards Showdown - Chase Sapphire vs Capital One Venture posted at NerdWallet Blog - Credit Card Watch, saying, "The Chase Sapphire and the Capital One Venture Rewards cards are both high-profile travel rewards cards for people with excellent credit. At first glance they seem pretty similar, and even their signup bonuses and rewards programs overlap. But when you really look at the numbers, some glaring differences appear."

Charles Chua C K presents 10 Ways to Reduce Your Expenses and still Maintain Your Standard of Living posted at All About Living with Life.

FIRE Getters presents 12 Tips To Lower Your Heating Bill posted at FIRE Finance, saying, "The cost of energy is rising everyday. Whether it be electricity, gas, water or sewage, our utility bills are becoming higher with each passing month. Consequently most of us are looking for ways to trim our energy expenses and boost our savings. As winter sets in, the cost of heating our houses will be a major concern ..."

David de Souza presents UK Income Tax Blunder – How It Happened posted at UK Tax Blog, saying, "Over 2 million people are affected by a tax blunder in the UK. We look at how it happened"

Matt T. Henterly presents How to Live Without Credit Cards posted at The SimpleChecking Blog, saying, "How to live without those cursed plastic anchors - from one who's done without them for over seven years."

share presents Why use options? posted at Options Education for Beginners, saying, "A recently started blog with daily new posts about basic options trading education"

nissim ziv presents Best Careers for Women per Skill Sets & Advantages posted at Job Interview Guide, saying, "List of best careers for women where they can better utilize their skills and advantages - women have advantages over men on particular areas and thereby some careers fit them better"

Neal Frankle presents IRA FAQ ? All the Answers You Need In Plain English posted at Wealth Pilgrim: Money Management Advice, Financial Stess Management, Addiction Recovery Plan & Resources, saying, "You need to know IRA FAQ PDQ (Pretty Darn Quick). I say this because we have to take responsibility for our own financial future. Nobody else is going to do it for us."

Mike Piper presents The Best Places to Retire posted at The Oblivious Investor, saying, "For those considering retiring abroad, what countries should be at the top of the list for consideration?"

Brian Cull presents How-to graphical budgeting posted at Living at the Top of the Bell-Shaped Curve, saying, "Simple, easy-to-use way to control your finances by graphing your budget"

Arjun Rudra presents Be Mindful Of The Risk Of Inflation Says Norman Raschkowan, North American Strategist For Mackenzie Investments posted at Investing Thesis, saying, "This past summer has taken investors on a roller coaster of a ride with capital markets rising and falling so much, it’s no wonder investors are feeling queasy. Mixed economic data may be stoking fears of a “double dip” recession, but one North American strategist, says that while there will be an extended period of moderate economic growth, the chances are slim we’ll see another actual recession hit."

Mike Ross presents 5 Life Insurance Myths That Can Cost You a Pretty Penny posted at The Budget Life Blog, saying, "There are a number of myths circulating about life insurance, and you don’t want to fall victim of a myth that could cost you – and your family – down the road. Here are 5 life insurance myths you shouldn’t believe."

BWL presents Should You Buy Disability Insurance? posted at Christian Personal Finance, saying, "This article looks at some of the reasons one might want to consider buying disability insurance."

Ryan @ MFN presents Roth IRA Rules posted at The Military Wallet, saying, "Rules for Roth IRAs, including who can contribute, contribution limits, withdrawal rules, and more."

MoneyNing presents Five Reasons You Should Give Your Kids a Monthly Allowance posted at Money Ning, saying, "Giving your kids an allowance will teach them to be more responsible."

Praveen presents Bought General Dynamics (GD) Today posted at My Simple Trading System.

Roshawn Watson presents Is Extreme Frugality For You? posted at Watson Inc, saying, "So many of us do a job we hate to pay for a consumption-focused lifestyle that we can barely afford. However, is cutting down to beans and rice really for you?"

Madeleine Begun Kane presents Tax Cut Tomfoolery posted at Mad Kane's Political Madness.

Wenchypoo presents The 50% Solution posted at Wisdom From Wenchypoo's Mental Wastebasket, saying, "How to hang onto your money--while you make it, or afterwards."

Dan presents The 7 Deadly Sins of ETF Investing – Are You Guilty? posted at ETF Base, saying, "ETFs are better than mutual funds and stocks in many aspects, but there are several risks and downsides many investors are unaware of ranging from futures roll to how leveraged ETFs work. Learn about the 7 Deadly Sins of ETFs."

One Family presents A Peek Into Our Roadmap to Financial Independence posted at One Family's Blog.

PT presents Mystery Shopper Jobs: Deciphering the Mystery posted at Prime Time Money, saying, "The truth about mystery shopper jobs, a potential way to bring in extra income."

Wenchypoo presents What's It Like Living on Food Stamps? Take the SNAP Hunger Challenge and Live on $4.50/Day For the Next Week posted at Wisdom From Wenchypoo's Mental Wastebasket, saying, "If you can meet this challenge, then make it a part of your everyday life, then you will free up tons of money for investing, emergency funds, etc. that will lead to financial independence. Later on, you will wonder the same thing I do now: if current food stamp recipients have to meet this challenge every day, why aren't THEY financially independent yet?"

That concludes this edition. Submit your blog article to the next edition of financial independence using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Getting rid of debt

There are 2 types of debts, good debts and bad debts.

Good debts are the ones incurred to purchase assets such as shares. It is important to mention that in this case, any dividends from the shares should be used to pay the debt.

Bad debts are the ones most people get to buy things that are not assets. Clothes, big TVs, cars, big and expensive houses, the list goes on.

Following are some simple tips to pay off bad debt:

Strive to make your payments on time
Most credit card companies will charge fees for late payments so make  sure you make your payments always on time.

Pay more than the minimum amount

Credit card companies are not interested in you paying off your credit card debt. They want you to have as much debt as possible so long as you can make your minimum payments.

The reason for it is that they want you to keep incurring interest charges so they keep on making money.

You need to pay as much as possible in order to reduce the amount of interest you pay. This is obviously conditioned in you having the cash flow to make the extra payments.

Make repayments as often as possible
In most types of loans, interest is calculated daily. In your to reduce that interest it is important that you make payments as soon as your money is available. Don't wait for the monthly statement to arrive, pay as much as possible, as often as possible.

Make payments where you are incurring the highest amount of interest

If you incur more interest charges than interest you earn on your savings account, use your savings to pay off the debt. It does not make sense to keep money away earning 4% where you are incurring a 12%, or even higher, interest on your unsecured debts.

Increase your cash flow
 
The quickest way to pay off your debt is by earning more money and using it to get rid of the debt. This is not easy, especially if you work hard during the week. You certainly don't want to spend your weekends doing some work away from your family.
 
This may be necessary until your finances are back on track.
 
The most important piece of advice is not to incur bad debt if possible. Prevention is always better than cure.