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Before you know it the malls will be decked out in Christmas decorations and the Salvation Army Santas will be clanging their bell by every entrance and exit.
The grocery store I use already has their decorations up and we have not yet had Thanksgiving!
Seems a bit hasty to me but the stores are hurting and doing everything they can to put us in a buying frenzy. I am not sure if garland, glitter, and blow up Santas have that effect but the stores seem to.
The stores will be working just as hard to separate you from your money as you worked to earn it. It is important to work that much harder to stay on track with your debt relief plan during the holidays!
Many of you will call and ask about skipping your payment in November or December, or ask about postponing it. Remember that you have been working towards the goal of being debt free all year! Try not to miss your payment, or postpone it, because it may jeopardize the benefits you receive from your creditors and negate what you have already invested in your Plan.
Another important tip to remember is that banks are closed during the holidays which can extend the amount of time it takes to process your monthly payment. This can lead to problems if you cut it to close and ask to move your payment date. Please take a look at your payment date on the calendar and verify when the debit will occur. It typically takes three to five business days for your payment to be processed. If need be you can always adjust your payment date to occur a day or two earlier to make sure your creditors receive their payments on time.
Hopefully you were able to put together a budget at the beginning of the year and include a portion for your savings for Holiday presents. If you did not, or other expenses popped up which changed your budget, not to worry! As we pointed out previously the stores have had a rough 2009 and when that happens they will often lower their prices to entice buyers to purchase from them as opposed to their competitors. What this means to you is that it is a great time to hunt for bargains! Be sure to check a few competitors before making purchases and do not for get the online options like EBay.
It has been a tough year for many Americans because of the economy and corporate downsizing. If you have been affected it is not the time to buy expensive presents or feel that you have to buy something for everyone. Pick the people who are the closest to you, like your parents, spouses, children, and siblings and rationally decide how much you can afford on presents. Once you have your plan, make sure you stick to it.
Rob Taylor
Rob Taylor is a contributing author for A Straight Talk on Debt. Rob tells it like it is when it comes to the latest debt industry news and shares his advice on personal finance.
Can you tell me if i can make extra payment in the new year on my plan after i get my income tax return??
Absolutely! Making an extra payment is a great idea if you can afford to make the payment. You can adjust your payments through "My Program".
Thank you!