Christmas is a time for generosity and joy. But too often generosity turns into the desire to please those around us with gifts. Our children demand the latest toys and technological wonders or you simply want to give them what they want. Gift exchange means finding gifts for a host of family, friends and even co-workers. When you know what others are spending and what other children are receiving from their parents, it is difficult not to go all out with your own spending. However, giving gifts you cannot afford, hurts you and your family once those bills come due. Here are tips to help you avoid debt this and every Christmas.

1. Realize you don’t have to give your children everything they want. That shiny “something” will soon be lost or broken. As for very young children, they’ll not even notice the toy that is in a nice, big box. They’ll play with the box. Give your children things they will enjoy for longer than a day. These do not have to cost a great deal of money. For example, craft a toy from a box for that little one to play in.
2. Commit to staying out of debt. Make a list of everyone for which you purchase gifts. Figure out how much you can spend on gifts without going into debt. Do not be influenced by what others spend. Think in terms of meaningful gifts rather than cost. If the figures still don’t add up, consider what other Christmas expenses you can cut. These might include a fancy new outfit. It might mean cutting down on the amount spent on a holiday party.
3. As soon as one Christmas is over, start a savings account for the next Christmas. Have money automatically added to the account every payday. You can also keep a Christmas jar at home and add extra change at the end of each day and the unexpected money received during the year.
4. Keep the list of those for whom you purchase gifts at Christmas handy. During the year, buy gifts for the recipients and put them away to be wrapped and given at Christmas.
5. For family, get together and agree to a “green” Christmas by either re-gifting, passing on an unused item to someone who would appreciate it, or by encouraging gift givers to make their gifts. Crafting can become a family affair and even become a tradition of giving gifts that may not be technically perfect, but are one-of-a-kind creations from the heart.
6. Always pay cash. There is something about using a credit card that makes individuals spend more than intended. A credit card doesn’t seem like money, not even debit cards. Making a budget and using cash helps you process how much you are spending and how much you have left. This makes you more careful in how and on what you spend your money.
7. While children should be given at least one special gift, as a family, you can choose to give of your time or money to charity instead of buying expensive gifts for one another.

You can avoid debt at Christmas with commitment and planning.

This article was written by Phill representing CompareLogbookLoans.co.uk – an independent financial website bringing together and comparing available logbook loans.

As a student the last thing on your mind is probably personal finance, and related personal finance tips & advice. Nonetheless while you are in your 20′s you are at a critical point in your life and following personal finance tips for students is something you’ll wish you’d done when you are older. I guarantee it. So if you are one of the more than 14 million students currently attending college in the United States (or a student attending college outside of the U.S.) then the following personal finance tips are for you. For those who’ve already graduated keep on reading as well, you might just find something that will benefit you as well!

Use the library

One amazing resource that you have at your full disposal as a student is your school’s library. If it’s like most college/university libraries out there then you’ll have a couple of neat things to take advantage of. The first, and possibly the biggest money saver, is free WiFi. Most schools will offer this, so if you live close enough or are able to spend enough time on campus you can take advantage of the schools internet and save yourself upwards of $30 a month.

Need a textbook or research materials? There’s a big chance that your school offers free access to these materials for you, so if you only need a textbook for a few days out of the semester, why buy it when you can borrow it?

This isn’t something that’s likely offered at your school library, but it’s pretty likely available at your public library: movies and music. So if you need some entertainment and don’t want to cough up the dough for a Redbox or Netflix rental head down to your local library and check out their music and movie selection.

Be smart with textbooks

One of the largest expenses you’ll have as a college student is the cost of your textbooks every semester. If you buy them new (and depending on your course load) you could easily spend upwards of $700 for textbooks alone. That’s a pretty major expense and one that, if you can, would be wise to cut in half or even more. Here’s how:

Rent your textbook. Google the phrase “rent textbooks” and you’ll find plenty of options. If your book isn’t available for some reason see if you can check it out from your school library (they’ll usually have a couple copies of textbooks on hand) and if all else fails and you have to buy it then be smart about that as well. Don’t bother buying new if possible, get it used from amazon, check Craigslist or Google the ISBN number for your textbook and see what you can find.

Another thing you should try (if possible) is selling your textbooks back to the school bookstore (or on Craigslist or amazon if you can get more) after the semester is over. This way you can reduce the out of pocket expense for the next semester’s textbook cost. Also if you can sell your books back before the end of the semester you might get a bit more back for them than if you wait until the semester is over.

Throw your ID around

Put that student ID in your wallet and make sure you always have it with you, because you can get some serious discounts with that magical little card. From food to movies to MacBooks, the discounts are a plenty.

Discounts on electronics & software

Looking to get yourself a MacBook or an iPad for use at school? Great news! Apple offers a pretty decent discount on just about all of their hardware products. You can see said discounts on Apple’s online store or stop in to your local Apple store (or university bookstore if they sell Apple products) and ask about the student discount. You should also check out Academic Superstore online for pretty substantial discounts on many of your favorite software programs (Windows, Office, Adobe Creative Suite, etc.).

Discounts on entertainment

Love movies? Of course you do. Check with your local theatre to see if they offer a student discount. Most movie theatres will, and unless you’ve only got one theatre within 5-15 miles of you there’s a good chance that a theatre that’s close enough will offer a fairly substantial discount on tickets (we’re talking $6 bucks a movie instead of $10).

Some other great places that will typically offer student discounts include museums, live theatre, comedy shows, concerts, etc. There’s a lot of discount giving going on out there in the world of entertainment so make sure you ask!

Discounts on food

Check with the local eateries near your college campus, as there is a pretty high chance that they offer discounts on food to students. Check your school newsletters as well as bulletin boards on and around campus for other restaurants/eateries offering student discounts. Finally if you stop by a chain (McDonalds, etc) ask if they offer a student discounts. It can’t hurt to ask and the worst they can say is no.

Discounts on services

You’ve got to be prepared for Spring Break at all times, so if you’re getting out of shape check with your school to see if they have a fitness center/gym. There’s a pretty good chance they do and an even better chance that it’s free (or at the very least seriously discounted).

Moral of the story? Ask around everywhere you go to see if they have a student discount. There’s a good chance they might have one.

Be smart with credit

Your credit history will carry with you for a long time and the sooner you can get yourself into a routine with good financial habits, the better. Therefore, your early 20′s and the college years are a critical time to really work on building an excellent credit history. For more information on credit (and your credit score) please check out How Your Credit Score Defines You.

It goes without saying that banks and credit card companies love college students. They really try to capture your business early on and by doing so often will offer some sort of incentive for even applying for their credit card. Don’t fall for this deception. Just because XYZ bank is handing out free t shirts if you sign up for their credit card doesn’t mean that you should do it. Avoid these offers, and if you just must have whatever SWAG they are giving out then remember to promptly close the card once you receive it in the mail (and destroy it properly).

If you trust yourself not to go overboard then consider charging all of your necessary living expenses on a credit card and then pay your bill in full at the end of each month. By paying in full at the end of every month you’ll avoid interest charges and you’ll be building a good credit history as well as teaching yourself discipline. That said it’s not likely worth it to do this unless you have a card that offers rewards.

Finally, if possible avoid taking out student loans. Sure it’s cheap to finance your education, especially with subsidized loans, but take it from me it’s not fun to have to pay off your education years after you got your diploma. Not to mention that student loans can be crippling and possibly even prevent you from being able to take on a dream job.

Protect your belongings

You might not have a lot of stuff yet, but it’s still important to protect your belongings. If your apartment burnt to the ground how would you replace all of your clothes, your computer, etc? My recommendation is to always carry a renters insurance policy. These can cost as little as $5 a month (one less latte) and will provide peace of mind, and we all know you can’t put a price on that. 

Don’t neglect scholarships/grants

There are a lot of scholarships and grants available out there, all you have to do is look for them. Do yourself a favor and check with your school’s financial aid department to see what is available to you as a student. Also do a quick search online to see what else is available. One caveat to searching online: there are many companies that claim they will find you money in scholarships and charge a fee to do so. While they may very well be a legitimate company I’d recommend avoiding them as you can certainly find the information on your own and for free.

Consider using a community college for your first two years

Community Colleges are quite a bit cheaper than your local university and in most cases offer a comparable education. My advice is to do your first two years of higher education at a community college and then transfer to a university to finish your degree. By doing so you’ll save thousands of dollars and still get an excellent education!

That’s all I’ve got for today. There are plenty of resources you should check out as hyperlinks on this blog post so make sure you do that as well. Also for those who will be graduating soon (or for recent graduates) check out 5 Must Read Tips for New Graduates. Do you have any additional money saving tips for students? Sound off in the comments below!

Like so many of my personal finance blogging peers, I believe that anyone can excel at managing their personal finances; I believe that anyone can become financially independent. Most people just need a little bit of advice and an occasional hand to hold. While I can’t necessarily hold your hand (hard to do over the internet) I am able to offer up advice on occasion. Today I’d like to offer 355 money saving tips that you can use to turn your financial life around, or continue on the path of saving money that many of you are already on.

These tips can be found on three different personal finance blogs: The Simple Dollar, The Dough Roller and The Frugal Law Student. I’m going to quote for you some of my favorite tips, the rest you can check out from these respective PF blogs.

5. Make your own gifts instead of buying stuff from the store. You can make food mixes, candles, bread, cookies, soap, and all kinds of other things at home quite easily and inexpensively. These make spectacular gifts for others because they involve your homemade touch, plus quite often they’re consumable, meaning they don’t wind up filling someone’s closet with junk. Even better – include a personal handwritten note with the gift. This will make it even more special than anything you could possibly buy down at the mall, plus it saves you money.

45. Master the ten second rule. Whenever you pick up an item in order to add it to your cart or to take it to the checkout, stop for ten seconds and ask yourself whyyou’re buying it and whether you actually need it or not. If you can’t find a good answer, put the item back. This keeps me from making impulse buys on a regular basis.

100. Never give up. Whenever the struggle against debt feels like it’s too much, go read a personal finance blog and remember that there are a lot of people out there fighting the same fight. Read around through the archives and learn some new things – and perhaps get inspired to keep going, no matter what.

For more money saving tips from The Simple Dollar check out Little Steps: 100 Great Tips For Saving Money For Those Just Getting Started.

Don’t pay interest on credit cards. This is obvious, but I soon as you fail to pay off the credit card in full, the high interest payments start to eat away at your monthly budget. If the temptation to spend more than you can pay on a credit card is to great, get rid of the credit card…

Check the insulation in your home. Extra insulation can easily pay for itself in one or two years, and it helps save the environment, too.

For more money saving tips from The Dough Roller check out 75 Painless Money-Saving Tips.

Don’t buy into trends. Keep a wardrobe of classic pieces, so you don’t have to update your clothes every year.

Eat right and exercise daily. You’ll reduce health costs.

Don’t buy extended warranties. Eighty percent are never used, and they’re a major profit item for the vendor. That’s why they push you so hard to buy them!

For more money saving tips from the Frugal Law Student check out 180 Money Saving Tips to turn your Financial Life Around 180 Degrees.

I’ve mentioned before that I love to read financial news and financial articles. I’m borderline obsessed with personal finance and I’ve spent the past couple of years searching out the best of the best. Today I’d like to share with you some of the best Personal Finance Blogs that can save you money with their ideas on how to be frugal.

The Simple Dollar - The Simple Dollar has been around for several years now and Trent (the author) has always had a strong focus on Frugality. You’ll find hundreds of money saving tips at The Simple Dollar, both on the main page and in the archives.

The Frugal Law Student - The Frugal Law Student has also been around for several years and has done a fantastic job of putting a student-based spin on frugality. Learn how you can save money while still in school – only at The Frugal Law Student!

I Will Teach You To Be Rich - Ramit Sethi, the author of I Will Teach You To Be Rich, has taken an interesting approach to frugality. He used to swear off writing about it on his blog because he didn’t necessarily believe in the concept of frugality. Recently he’s decided that there are “sexy” ways to be frugal and has shared many great money saving tips at his blog!

Money Ning: Frugal Living - Money Ning is one of my favorite personal finance blogs. It’s well-written, updated frequently and is always chock full of interesting posts that almost anyone can relate to. While Money Ning isn’t focused entirely on Frugality, there is a great page that lists all of the Frugal Living tips that Money Ning has come up with over the life of his blog.

Frugal Dad - Frugal Dad (as you can probably tell by the name) is a blog focused mostly on Frugality and different ways to save money. What is great about Frugal Dad is that he doesn’t sugar coat Frugality and make it sound like it’s easy to give everything up. In fact there are things that he won’t cut back on, just to save money, because what’s life without a little fun? Check out Frugal Dad for some great tips on saving money!

Northern Cheapskate - Northern Cheapskate is written by a stay-at-home Mom who believes in the power of debt-free living. She shares tips on how to save money and how to avoid getting into debt.

Miss Thrifty - Miss Thrifty is a self-proclaimed “label maven with a beady eye for bargains and a craving for saving.” She blogs from the other side of the Atlantic (the U.K.) and always has some interesting ideas on how to combine fashion and money saving. Check her out!

My Money Blog – My Money Blog is full of tips on Frugality and they frequently feature great deals where you can actually get things for free! You read right… free. For example, free tax filing software options. Check it out.

Being Frugal - The slogan on the front page of Being Frugal is “Live More. Spend Less.” This slogan absolutely captures the essence of what really drives the content in this blog. Being Frugal is all about getting things you want and need and saving money while doing so.

Free Money Finance – Free Money Finance is a rockstar in the world of Personal Finance Blogs. They have been around for a while and really have their stuff together.

That’s it for this list. I’ve given you enough reading to keep you busy for the next 2 weeks. Of course don’t forget to check out the posts on Frugality that I’ve written here at Debit versus Credit. Oh and don’t forget to share this post with your friends!

Today we’re featuring a guest post from the good folks at BeattheEconomy2009.com

Every parent wants to send their child off school with a good, healthy lunch. Mine did. However, many parents mistake a good lunch as one filled with attractively-packaged, sugary, expensive items. This should not be the case. Packing a brown bag lunch will be less expensive than having your child buy lunch. Also, on top of keeping money by making lunches this article explains, through personal experience, how to save even more money by watching what you put into those lunches.

My typical lunch growing up was a PB&J sandwich, a bag of chips, some variation of fruit (applesauce, fresh fruit, or yogurt), and two cookies. I had this lunch, with a few changes once in a while, every day at school… for twelve years. It’s not a huge lunch but I survived, my parents saved money, and you and your kids can too.

So, you’re probably asking, “Well then, what should I put into my child’s lunch?” The answer begins at the grocery store. Divide the lunch into four categories- a main item (sandwich or leftover pizza), a side (chips, crackers), a fruit/veggie or variation (apple, banana, applesauce), and a small dessert (cookies). This will ensure that the lunch has enough to fill its owner and give him or her the necessary nutrients to succeed in school. To start saving money you need to follow these easy steps:

1. Avoid expensive, unnecessary items (i.e. juice boxes, soda, fruit roll-ups, and other sugary packaged foods)

1. Drinks. Kids do not need juice boxes or sodas in their lunch. Every school and business place has some sort of a drinking fountain or water dispenser. Water is the best drink for you and best of all, it’s free! I never had in 12 years of school any kind of drink in my lunch. It saved my parents tons of money and forced me to be healthier.

2. Treats. Avoid those unnecessary treats like fruit roll-ups or ding dongs. These items are full of sugar, are not filling, can cause obesity, and are very expensive. Eliminate these from your shopping list. I still believe something sweet is a good way to end a meal so instead replace the expensive items with cheap store brand cookies. They come in large packs, are cheap, and taste very close to the brand name. This way, you can stick two little cookies in a baggie and still have a treat in your lunch (except this way it will be a lot cheaper). By the way, if you are worried about the store brand thing, it’s a cookie! It can’t taste that much worse than a brand name cookie.

Buy your items in bulk

1. Sandwiches. If you’re going to be buying sandwich items such as peanut butter or lunch meat, buy the biggest package possible for the best price. You’re going to be using it every day and that means it probably will not be going to waste. Buying a small jar of peanut butter every week or two will end up costing a whole lot more over the course of a year than if you bought a big jar that lasted a month or two.

2. Side Items. Buy the big boxes of chips or Costco-sized packages of individual applesauce. Smaller packages are going to cost much more than buying the big box or bag. It might cost a little more up front but will save lots of money in the end.

Be Smart.

1. Buy the cheapest bread. Your kids will not know a difference.

2. Shop Around. Invest some time viewing the ads that come in your local newspaper before going to the grocery store. Clip some coupons and be sure you are buying at the cheapest price. A box of chips might be on sale for three bucks at one store and regularly-priced at five at another. It might take a little more time but you’ll know it is worth it when you start to see the money you save.

3. Store brands. Stick to the store brands (unless it is in fact horrible, but in most cases, they won’t be).

4. Lay down the law. If your kids are with you in the store, tell them that if they ask for it, they won’t get it.

Once you have your groceries, it is time to pack the lunch.

1. Have the kids make their own lunch. They will appreciate the lunch much more once lunchtime rolls around. It will give them a sense of accomplishment and force them not to take you for granted. I’ve made my own lunch since the second grade so do not think your child can not.

2. Set limits. Set a limit for what each person can bring each day. If you decide to buy cookies, make sure to let everyone know that two is the maximum per day, etc.

Note: If your children are used to much bigger lunches full of sugary treats, they might be upset at first. Do not give in. Remember, you are saving money and helping to ensure your child does not become obese.

Follow the steps mentioned above and I guarantee you will save plenty of money. For more tips on how to save money visit BeatTheEconomy2009.com

You don’t have to enjoy reading to take advantage of everything that your library has to offer.  In fact you don’t even have to like reading at all.  My bet is that your library still has plenty of entertainment options available.  Most modern libraries are not only stocked with books but also music cd’s, movies, magazines and computers connected to the Internet.  If you aren’t already a library member then go sign up – it’s free as long as it’s your local city library.  Once you are a member then let the savings commence. Check out these ways to save money with your library card:

Buy books no more.  Instead of going to Barnes and Noble to buy that new novel that you’re only going to read once why not just pick up a copy of it at the library?  It’s free!  You’re only going to read the book once anyway so there really is no reason to buy it.

Keep up on all your favorite gossip magazines.  I’m willing to bet that your library stocks Entertainment Weekly and US Weekly.  Why pay for these magazines when you can take a trip down to your library and read about Britney Spears or Brad Pitt to your hearts content.  If you don’t enjoy gossip magazines (I’ll stand up and be counted here) you still have plenty of other options including business magazines, money magazines (my personal favorite), car magazines and sports magazines.

Goodbye Netflix.  Sure it may not be quite as convenient as having movies delivered to your mailbox but your library is probably pretty well stocked with all of the latest movies to come out on DVD.  Why not take a stroll down to check out their collection?  You may be pleasantly surprised.

Can you think of any other ways to save money with your library card? Please leave your comment and if it’s a great idea I’d be more than happy to update this post with a shout out!

Being myself a student I’m fully aware of all of the potential cost-savings that can come along with pursuing a higher education.  Of course these cost-savings don’t come cheaply: paying for college can cost thousands to tens of thousands of dollars a year.  But you’re already paying for that right?  You might as well take full advantage of what you’re paying for and listed below are 4 ways to do just that.

• Cancel your magazine and newspaper subscriptions.  The library at your university or community college is more than likely well stocked with all of the latest magazines and newspapers.  You may not find any of those “special interest” magazines that you keep under your bed, but you’ll likely find all mainstream magazines as well as business and hobby magazines.
• Cancel your gym membership.  Many colleges offer unlimited use of their workout facilities.  Take advantage of this.  There is no point to paying for an expensive gym membership when you probably already have full access to the gym at your school.
• Cancel your Internet.  I’m willing to bet that your college offers free Wi-Fi everywhere on campus.  I’m also willing to bet that their Internet access is a lot faster than your current one.  If you live on campus or close enough to the campus where it’s just a hop skip and a jump away you might consider cancelling your Internet and taking your laptop to school whenever you need (or want) to use the Internet.
• Take your date to school.  If you’re looking for a great date idea that doesn’t cost much then look no further than your local college campus.  I’m not talking about taking her to your accounting class with you (you’ll not likely have a girlfriend any longer if you do this) but rather taking advantage of the sports courts that your campus has.  More than likely your campus has racquetball courts, tennis courts, a sand volleyball court and a basketball court.  Volleyball and racquetball are my favorites, but maybe your date prefers to play some b-ball.  Either way it’s all right there, for you to use.

Today we’ll be featuring a guest post from Michael Caldwell at UseTheDollar.com, a finance blog for college students.

Stores Expect to Sell you more than you came for

The majority of my unplanned spending is composed of impulse buying of items in stores. Your lack of planning and Store’s tricky methods cause you to spend way more than you need to be.

Though many people, notably women, go shopping just for the rush; I rarely step foot in a store without some sort of mission. “I want this book” or “I want this new sweater” — So I go looking for that item. Barnes and Nobles is counting on me to see other things and walk out with them as well as my book though. Stores spend money to fool you.

A large amount of employees’ time, marketing expenses, and floor space is spent to build displays of items they’d like you to bring home. Here are some steps you can take to keep yourself from spending more than necessary at the store.

1. Always take a list.

Whether you are shopping for Christmas, for clothes, or just going to the grocery store; do not go without a list of what you need to buy. And do NOT deviate from the plan. Stick to your list and there’s no way for you to buy on impulse.

2. Take Cash

Another great control on your spending is to only bring cash. By deciding how much you’ll spend (using your list and prices) before you leave, you can take an envelope of cash in that amount. This way, you won’t charge or spend any more than you have planned.

Impulse buying adds up fast. Bringing cash is a surefire way to not go overboard.

3. Clip Coupons

The Sunday paper, cliche as it may be, will cost between $2 and $3 each week. It can contain anywhere from $150 to $300 worth of coupons. Granted, you won’t use all of them, but if you can find even $3 worth of savings then you’ve made it worth having bought that paper. Hey, maybe you’ll even read a little and educate yourself some.

Looking for another way to save more and build wealth? Check out my post on boosting your active and passive income.

4. Don’t fall for store trickery

How often do you see a mannequin with only a shirt on? Stores understand that psychologically, if you see a shirt that you want to buy that is on display with a nice pair of pants, you’re likely to buy the pants as well! Don’t fall for their trickery. Buy what you went in for and nothing else.

5. Put on the blinders

I used to work in Retail and whenever I would work the cash register (actually, we called it the Box Office at the Disney Store) I would be required to ask each customer if they would like to add one of our counter items to their purchase. These ranged from $1-$5, and it amazed me how many people actually fell for this. They never needed that stupid cup or poorly made stuffed animal, but hey: it was cheap, convenient, and they might even hurt my feelings if they didn’t buy it; so they did. Put on your blinders at the register. You’ve nearly completed your mission — don’t succumb to the corporate mischief now.

By following these tips I think you’ll be very surprised just how much you manage to save. An amazing amount of your money goes towards items you never planned or needed to buy — if you can eliminate impulse spending, you’ll be able to build some serious wealth.

You may also be interested in checking out these easy money saving tips for students.

About The Author

Michael Caldwell is a lifelong entrepreneur who has become active in the Financial world. He is the Co-Founder of UseTheDollar.com, and provides valuable, insightful posts, videos, and explanations to help students better understand the financial world.