Posts Tagged Economy
Don?t Let A Tough Economy Spook Your Spending This Halloween
Posted by admin in Consumer Credit Counseling on January 27, 2012
Don’t Let A Tough Economy Spook Your Spending This Halloween
Fort Lauderdale, FL (PRWEB) October 12, 2011
Halloween is now the second most expensive holiday and with the weight of the US economy becoming more and more taxing, families are taking notice of their unnecessary spending, especially when it comes to Halloween. The top financial literacy leaders at Consolidated Credit Counseling Services, Inc. offer tips on how to cut costs and stay within budget.
According to National Retail Federation’s 2011 Halloween Consumer Intentions and Actions Survey, Americans will spend $ 72.31 on costumes, candy, and decorations. This amount is up from last year’s $ 66.28 and from 2009 when people spent $ 56.31. Total spending for the vacationed is anticipate to reach $ 6.86 billion, the largest amount since the survey’s nine year existence.
“Halloween was once an inexpensive holiday. Families made treats like candy apples, constructed costumes out of old bed sheets, and made their own spooky decorations. As stores stockpile all of the typical Halloween fare, find the time to sit down with your family and plan a budget for this trick or treat season,” says Howard Dvorkin, CPA and founder of Consolidated Credit Counseling Services, Inc.
Here are some tips from Consolidated Credit’s money experts to get you started:
Use this opportunity to be creative and make Halloween costumes. The website http://www.howcast.com/categories/272-Halloween-Crafts has step-by-step videos to show how to make popular costumes and decorations out of everyday household items.
Buying unisex costumes leaves more options to reuse the Halloween costumes. Hold a costume swap with friends. This will cut out the price of new costumes ultimately cutting down Halloween spending.
Repurpose old Halloween costumes. Take pieces of old costumes to create new ones. For example, a black cape from a batman costume can always double as a cape for a vampire costume.
Start up a pumpkin bank or collection. Throw loose change into a pumpkin bank daily over the course of the year. Use the money to pay for Halloween expenses.
Shop sales at the end of the season. It’s never too early to start planning for next year. Many stores have sales for up to 90% off of items after the holiday is over. Use this opportunity to collect a few items to use for the following year.
About Consolidated Credit Counseling Services, Inc. — Incorporated in 1993, Consolidated Credit Counseling Services is a non-profit 5013 ( c ) organization that has provided educational assistance, budget planning, as well as credit and debt management programs throughout the United States. For more information about Consolidated Credit Counseling Services, Inc., go to http://www.ConsolidatedCredit.org.
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Credit counseling is it worth it with economy down fall ?
Posted by admin in Credit Counseling on September 12, 2011
Question by mc37mtz: Credit counseling is it worth it with economy down fall ?
I would like to buy a home but my credit is not great. The news about the economy doesn’t level-headed good, so I want to know if getting assigning counseling worth it?
Best answer:
Answer by J.B.
Learning as much as you can about credit, your credit history, and anything related to your credit is ALWAYS GOOD! This is even more true in our current economy because it is getting harder to obtain financing even for those of us with good credit. I cannot stress enough the importance of getting financial advice or counseling from a reputable counselor or financial advisor. There are too many places out there that will try to take advantage of you, so do your homework before you attend. Be wary of places that want to charge for counseling, alot of places charge you for teaching you things you can learn for free on the internet. I applaud your decision to seek out advice before jumping into a home purchase. Very smart! Even if you have to wait an extra year to get your credit in tip top shape before buying it is worth it in the long run. Take your time and make sure your credit is the best it can be before committing to a home loan!The answer that Bige (below) is giving is incorrect and wrong. Getting credit counseling DOES NOT (by itself) effect your credit score. The credit agencies do not even use it to figure out your FICO score. This is a GREAT example of why I suggest you learn as much as possible about credit and how it is reported because you will always have idiots like the one below who will tell you a bunch of garbage that is not true. Now if you were to obtain credit counseling in order to consolidate and payoff outstanding debts it may reflect negatively to future lenders, but counseling just to learn more about credit will not.I didnt get to an almost 800 credit score by listening to bad advice, I got educated and learned as much as I possibly could. I suggest you do the same.
What do you think? Answer below!
Better off without ever having credit cards?
Would the world have been better off financially without any consumer credit cards whatsoever? Imagine, a world without consumer credit.
@ quan: so you purchase a $70,000-$200,000 home with consumer credit cards alone (no bank loans whatsoever)?
@ RiderFan: that hurts the economy for everyone else =(
@chessmaster_ultra2004, fair enough about the credit – but inflation would have occured less if credit didn’t exist, and no one “has to” buy and live in a house for $400,000 if they can’t afford even half of that amount – but personally, I say they shouldn’t if they can’t afford 90% of the amount and credit cards should be treated the same way… no more than 10% of spending at most.
Bessie
Why do citizens give credit or blame the the President for a good or bad economy?
The President has virtually nothing to do with the economy. Well, nothing good, anyway. Businesses and employees are the ones that produce the goods and provide the services that consumers want and need.
All the politicians can do is manipulate the system and confiscate the pick the pockets of the people in order to pay for their pet projects and to benefit those who helped them get elected.
Lillie
What happens when consumers stop borrowing?
Consumer borrowing in the US has plunged, as well as a record drop in borrowing on credit cards. What happens to the economy?
Bryan
Do you think that the Federal Reserve is living up to its mission statement?
The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
Today, the Federal Reserve’s duties fall into four general areas:
•conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
•supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers
•maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
•providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system
Lee
Is legislation pending that would double the minimum monthly credit card payments?
I have recently heard statements (on the radio) indicating that the government is considering legislation which would require credit card companies to double the minimum monthly payments in an attempt to force consumers to reduce their credit card balances. I personally think that this would put many consumers “over the edge” financially, especially those that are barely hanging on as it is. This will cause many individuals to default causing them to incur dramatically increased interest rates and penalties from which they will NEVER recover. This will be the final straw that breaks our economy’s “back”. Does anyone have any real information about this?
Corey