2010 – A GIFT ODYSSEY (Part II)
As we continue our dealings with ghosts of holiday gifts 2009, let’s talk…cash. Unless your gift of cash came with a specific caveat (“have a wonderful dinner” or “buy yourself a warm winter jacket”) use that unexpected money to pay down (or pay off) your credit cards. No credit card balance to speak of? Good for you. Use the holiday windfall, instead, to build up a cash emergency fund. You may also want to use that money to buy items that save both money and the environment, such as a programmable thermostat or a new, energy-efficient kitchen appliance or hot water heater. Not real romantic or exciting, but as comforting as a pair of fuzzy slippers. Actually, having money in the bank for emergencies is kind of sexy.
Now, what happens if you spent more than you should have on gifts and racked up credit card debt that you cannot pay off in a few months? Pay off those cards as soon as possible even if that means giving up lunches (brown bag it) or dinners out (go to the grocery store and make your own cheaper and probably healthier meals instead). After those credit balances have been paid, start saving for a credit-less Christmas 2010. You will be much less likely to overspend if you are using actual cash and will be much happier come December 26, 2010, with no credit card debt hanging over you like the Sword of Damocles.
If you find yourself in severe credit card debt or any type of financial crisis from which you cannot escape, you need to call a professional and compassionate bankruptcy attorney from Legal Helpers. Filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy may help extricate you from your financial woes. When you decide to file bankruptcy, you need an experienced lawyer to fight for your rights. Call us toll-free today at 800-260-1402 to speak with a qualified and compassionate bankruptcy attorney.
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