Make sure that you don’t bring along your credit card when you are doing your shopping for Christmas. In common, most of the people tend to spend more when they see a lot of promotions for nice gifts and decorations. Look for “budget friendly” gifts for your loved ones and friends. You are reminded that “it is the little thought that counts”. It is not really important to purchase gifts which are costly. It doesn’t mean that you must spend the same amount as previous years. Don’t look for excuse to spend with credit cards. While you are doing your shopping, you are advised to place the price as your top consideration in weighing a purchase Try out “re-gifting” strategy. It is the act of taking a gift that has been received and giving it to someone else. This act totally doesn’t incur any cost.

To sum up, you are advised to have positive attitude in handling the belt-tightening economic situation. Be optimistic and enjoy your holiday by applying smart but thrifty strategy. Never ever increase your outstanding balance on your credit card statement.

Furthermore, even if you call up your creditors to inform them verbally that your ex-spouse has made the promise to pay off the debts, the creditors are not necessarily obligated to exclude you from the debts officially. Hence, you are reminded that if your divorce is in progress, you or your spouse must continue making the minimum monthly payment until the debts are divided clearly. If both of you don’t do that, you will be receiving non stop reminder letters and phone calls asking you for payments. Again, the credit reports of both parties will be affected too. Last but not the least; when you put a “full stop” to your marriage, it doesn’t mean that your financial responsibilities are ended too. In order to have a peaceful mind, you are advised to stop using the joint credit cards, clear all the outstanding balances and close the accounts immediately.

For the suggestions above, they are easy to get started. The next suggestion may not be workable if you don’t have extra stuff with you. For people who have unnecessary old stuff which are still in good condition, they are advised to sell off the items in order to raise funds. Under certain circumstances, car is not a necessity in life. If you are really desperate to pay off debt, selling your car will be an option. For people who used to buy many luxurious items, when they are knee deep in credit card debt, they should sell off these things to get rid of their debt first. To sum up, do not always think pessimistically when you have a lot of outstanding in your monthly statements. Think about positive ways to gain more income to overcome your debt problems.