Do you feel as if you're in a money trap? Well, you're not alone. Lots of people are finding themselves in debt, but you don't have to stay there. Five tips to help you take control of your money and live a fuller, more enjoyable life.

We’re in a recession, we’re not in a recession. Depending on who you listen to and what barometer of measurement they use, we’ve either been in a recession since December 2007 or the country is still on the outside of one looking in. Perhaps we’re somewhere between the two.

Regardless of what the experts say, what it all boils down for the average consumer is where they’re at financially. Some people are employed and expecting bonuses this month, others are holding onto a job and facing a pay cut, salary freeze, or even the threat of losing employment, while still others are unemployed and are now looking for work.

For every consumer, controlling personal finances is the key to monetary health, a way to build up wealth and an important strategy in gaining independence. After all, if you’re in debt then you basically are owned by your creditors. And, forget bankruptcy as a viable option – changes to personal bankruptcy laws a few years back has made that a bad option for most people.

What can you do to get your debt under control? Several things including the following:

Pay off credit cards – Lots of people are carrying around credit card debt and paying big bucks in interest each month. If you are running balances on several cards, try not to add additional debt. Pay off the card with the smallest balance first and then use those funds to attack the next largest balance. Your debt repayment will “snowball” as you knock out one increasingly larger balance at a time.

Renegotiate interest rates – If your credit cards charge high interest rate and you cannot get a new card with a low rate (to transfer balances) consider asking your credit card issuer to lower your rate. Be careful if you ask for a “hardship rate” where your interest will be knocked down to zero in exchange for automatic monthly repayments – some card companies report this information to the credit bureaus which can adversely impact your credit report or score.

Pay down your mortgage – If you have a home equity loan or a mortgage (or both) work toward paying these debts down faster. Housing prices have dropped, a lot of homeowners have negative equity in their homes, and if you should need to sell, you’ll have more profit to show if your overall home debt has been reduced.

Trim spending – Whether laid off or on the receiving end of a salary drop, you’ll need to trim expenses accordingly. Now is the time to shop around for the best deals on insurance, communication, food, etc. in a bid to keep your expenses in line with what you make each month.

Take charge – Banks and other lending institutions are clamoring for consumer dollars, especially ever since credit has tightened. Make sure that you aren’t paying an annual fee for a credit card, that monthly bank fees are reasonable, and certainly don’t agree to pay other charges which are unreasonable. Threaten to take your business elsewhere if the lender won’t budge.

Some analysts are suggesting the current economic climate will last until next summer with others suggesting that early 2010 will be the soonest date when we’ll see some relief. No one can say for certain when the economy will improve, but don’t wait to act: you can take control of your finances today!

Adv. – How about a card you need that fits your financial objectives? Whether you are a savvy consumer or first-time user, there is a credit card that will meet your buying-power needs. Please visit nBuy.com to conduct your smart credit card search.

Photo Credit: Nusrin

Tags: credit, Credit Cards, debt, Debt Consolidation, employment, job, job loss, money, personal finances, recession

Christmas shoppers will be finding some fantastic buys this holiday season as stores vie for consumer dollars in a bid to hold on in a tough market. Unfortunately, a number of stores that are in operation during the month of December will close beginning in January, with some being shutting down system wide while others will involve cut backs in the number of their locations.

A word to the wise: check out each store’s return policies as “all sales final” could apply to your purchase. Never give a store gift card out for a business that won’t be around in the near future. Honest retailers won’t offer them, but even a good business that suddenly collapses may not be able to honor them.

Special thanks to Deborah Petersen of Life In The Fast Lane for passing store closing information for retailers operating in Canada and the U.S. The list includes the following stores, please visit their respective websites for up to date information:

• Circuit City stores — 155 will be closed.
• Ann Taylor- 117 stores nationwide are to be shuttered.
• Lane Bryant, Fashion Bug ,and Catherine’s to close 150 store nationwide.
• Eddie Bauer has closed 29 stores, but has also opened up 10 new ones.
• Cache has closed 14 underperforming stores, but is still opening up new locations.
• Talbots has closed down some stores while seeking to sell off its J. Jill subsidiary.
• GAP has closed several poor performing stores while opening up new ones. The company plans to close down additional poor performing stores in 2009 while moving forward with plans to open up new stores.
• Footlocker has closed 334 stores since 2007 with additional closings expected in 2009.
• Wickes Furniture closing down.
• Levitz closing down remaining stores.
• Bombay closing remaining stores (all in Canada).
• Zales has closed about 105 stores and kiosks while opening up nearly 100 new stores outlets in 2008.
• Whitehall closing all stores.
• Kirkland (home decor) expects to close 130 of its 335 stores in 2009.
• Disney has closed 98 stores since being reacquired by the Walt Disney Company.
• Home Depot closed 15 underperforming stores in 2008.
• Macys closed 11 stores in 2008.
• Linens and Things closing all stores.
• Movie Galley/Hollywood Video closed some stores after reorganizing following bankruptcy but still operates 3500 outlets.
• Pacific Sunware closing all d.e.m.o. stores, but will keep core outlets open.
• Pep Boys closed 31 poor performing stores in 2007.
• Sprint/ Nextel has closed or is in the process of closing 125 stores.
• Ethan Allen has closed down 12 stores and 2 design centers in 2008.
• Wilson Leather shut down its mall based operations this past fall, but 119 remaining Wilsons Outlets are now controlled by A.M. Retail which is honoring Wilson Leather gift cards.
• Sharper Image is in the process of closing down its remaining stores.
• Lowes has closed down a few stores, but opened up far more in 2008 with additional expansion expected in 2009.
• Dillard’s has closed 21 stores in 2008 with additional store closings expected in 2009.

I updated this list to reflect new information as well as to refute some store closing rumors that have been circulating. Again, check with each retailer to determine what the current status of their operation is as some retailers may survive another day, be bought out, or take their business online in a bid to ensure their survival.

Adv. — Do you need some great gift ideas? Does the thought of venturing out to the mall have you stressed even feeling anxious? If so, then look for what you want to buy online! Visit nBuy Plaza to find better deals than your local strip mall. While there, print out Santa’s List and download your free Christmas Party Holiday Kit to help you plan your social events for the month of December, even beyond. Happy shopping!

Photo Credit: Sanja Gjenero

Tags: business, Christmas shopping, retail, retailers

The Twelve Days of Christmas

One of the oldest Christmas songs still be sung is, “The Twelve Days of Christmas” a tune from 18th century England. The song has remained popular because it is memorable, fun, and historical.

However, there may be another meaning to the tune, one that points directly to the real meaning of Christmas: the birth of our Savior. During a period spanning the mid sixteenth to early nineteenth century, England was going through a time of profound religious upheaval, with Protestants and Catholics vying for control of the country. Most of that time, the Protestants were in control, putting the Catholic faithful in a distinct minority status.

Unfortunately, the rulers of England during that age often persecuted those who did not follow the state endorsed religion with Catholics finding that they had to come up with other ways to encourage each other in their faith. One way was to do that was to create a song which, on the surface, had one meaning while deep down there is another one that would soon become apparent.

Oh, by the way, there are some people who dispute whether the song does, indeed, have another meaning to it. The following are excerpts from the song and what each character represents according to those who claim that it has a deeper meaning:

• A Partridge in a Pear Tree - Jesus Christ
• Two Turtle Doves - The Old and New Testaments
• Three French Hens - The three virtues of Faith, Hope and Charity
• Four Calling/Collie Birds - Four gospels, Matthew, Mark, Luke and John
• Five Golden Rings - First five books of the Old Testament
• Six Geese-a-Laying - Six days of creation before God’s rest on the seventh day
• Seven Swans-a-Swimming - Seven gifts of the Holy Spirit
• Eight Maids-a-Milking - Eight Beatitudes
• Nine Ladies Dancing - Nine fruits of the Holy Spirit
• Ten Lords-a-Leaping - Ten Commandments
• Eleven Pipers Piping - Eleven faithful disciples
• Twelve Drummers Drumming -Twelve points of belief in the Apostles’ Creed

How about you? Do you think that the Twelve Days of Christmas has a secondary meaning or do you believe that what is sung on face value is what was originally intended with this historic Christmas tune?

Adv. — Whether shopping for twelve Christmas days or one day, you may find it easier to shop online instead of venturing out to crowded stores in congested malls. Choose from international decor and hunt down those luxury finds, all from the convenience of your personal keyboard.

Tags: Christmas, Christmas shopping, Twelve Days of Christmas