According to the National Retail Federation, the average American couple will be spending an extra $1,500 on gifts this year. With the economy in the shape it's in, everyone is looking for ways to save. Money Editor Stacy Johnson has a few tips for you in this short (1:29) video…
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If you want to try selling during the holiday season, here are a few tips:
The power of the nose is underestimated by many people. Smell is the first sense we develop and is deeply associated with food and emotion. A clean smell is great, as it does not cause negative reactions from most buyers. However, for Christmas, it may pay off to stage your home so that your buyers can imagine their Christmas happening here.
When you clean your home and stage it for showing, try choosing natural-based citrus and pine scented cleaners. These should just leave a hint of their scent behind . If you can bake cookies and cakes (bake, don't burn!), do it in the morning before you leave the house for showing; it will give the house a holiday smell. Also, a pot of apple cider that has been heated on the stove lends a delightfully spicy, Christmasy smell.
Go the extra mile and leave some of those cookies and cider out for your buyers. They might not remember the crown molding, but they will remember free food and drink!
Decorate conservatively, but don't over-decorate; it blends your house in with your neighbors' houses and looks more homey. Several strands of Christmas lights and a wreath on the door are enough to make your house sparkle. Keep banners and large yard displays packed up this year. Get a smaller tree than you normally would if your living room is small; it will make the space look larger. Keep the kids' ornaments off the tree when buyers are around and try for a more uniform look this year with classic Christmas ornaments and a light hand on the tinsel. It is recommended that you shut your family's presents away, but since they look good under the tree, wrap a few fake presents to provide a nice effect.
With some extra thought to decorating and scheduling, you can certainly pull off house selling on the holidays. However, stop and think whether you really want to - it may be easier to pause for a short time while holiday celebrations are going on and then start anew in January.
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Where is the consumer's share of the Fed's recent rate cut? Card issuers are raising fees and interest rates, even on good customers, to offset their losses.
Used to be, when the Fed cut rates, credit card issuers followed suit, resulting in lower monthly payments for cardholders. Though average credit card rates have fallen slightly as the Fed has cut interest rates, banks and retailers are trying to offset rising losses in their credit card operations by raising rates and fees across a broader swath of their existing customers.
Banks had already been tightening the screws on people with less-than-perfect credit in recent months. Now, even customers who pay their bills on time are finding it more expensive to carry a balance.
Even though interest rates that supposedly affect things like the rate you pay on your credit card interest are near all-time lows, have you seen rates creeping up on your credit card statements? We'd like to hear from you. Have you done anything about the rate-creep card companies are implementing? Have you called your credit card company and asked for a rate reduction? We'd like to hear your experiences. Use the comment link below and tell us about them. Your email address will never appear on this site to protect your privacy.
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If you're looking for a unique gift idea this holiday season…here's one that might be easy to swallow: how about a personal chef? Money reporter Stacy Johnson gives the idea a taste. (Video runs 1:32)
Have any really unique gift ideas this year that you haven't heard of anywhere else? We'd love for you to share them with us. Just use the comment link below and tell us about your gift idea for that hard to please person on your shopping list this year…
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Increasing your credit report score rating is not a difficult proposition. It simply takes time and patience. You cannot expect to see results overnight. And if you are approached by someone from a credit repair company insisting they are capable of cleaning up your credit report within a couple of months, walk away. No, check that, RUN AWAY!
If you have plans to buy a new home at any point in the future, now is the time to review your credit report and improve your credit score ratings.
The first thing you need to do is get a copy of your credit reports from each of the big three Credit Reporting Bureaus. You need all 3 credit reports for the Big 3, namely Equifax, Experian, and TransUnion.
Use Your Credit Cards, Make Repayments, Clear Payments Regularly.
The optimal number of credit cards you should possess are about 3 to 6. The more credit lines you have the more it will hurt your credit scores, especially when you are accumulating outstanding unpaid balance attracting hefty interest on them. Pay off the outstanding amounts as much as you can but never clear all at once. Do it progressively with a schedule and budget.
Then proceed to repairing your credit card status and repairing your credit report scores. The fact that you are making regular payments on your cards and are reducing your debt will show up on your credit report, and you will get credit for this. In the meantime, do not use your cards to make additional purchases. Note that your aim is to pay off your debt.
It may sound unbelievable, but there are people who have been paying with cash all along and therefore do not have a good credit score. No credit report would be able to show the fact that you are a good money manager if you do not even possess a credit card. In this case, apply for a couple of credit cards. Make a small purchase on each card every month, and pay the card every month. These payments will show on your credit report, and they will begin to increase your credit score. In short, you are creating a legitimate image of a responsible credit user.
Pay Your Bills Promptly Via Online Banking.
This is something that not many people realize. When you apply for a bank account the bank gives you an option to register for their online banking services. Accept it and take full advantage of the ease of online banking to pay your bills on time. That is, as and when your bills come in, you must schedule them to be paid online.
In addition, you can pre-schedule payments of recurring bills and you will no longer be plagued by unpaid bills with the online banking auto payment feature. There had been cases where the speed at which you clear your bills makes 35 percent of your FICO score, so on time bill payment is important.
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