Congress is looking at credit card companies and their practices. I think it should be more difficult to get a credit card. If the requirements to get a loan or get a credit card were changed then it would be more difficult for people to get into financial trouble.

This change wouldn’t help people who already have a great deal of credit card debt. Even though fees, interest rates and finance charges do add a lot to credit card debt. The biggest problem is that some people who get credit cards and really aren’t able to pay in the first place. Using a credit card wisely doesn’t get you into debt. That is when you pay on time or before you have any interest charged if you have a promotional rate for a certain period of time.

“They gave me the credit so they [the credit card companies] are the fools.” I have heard this several times from different sources from people of different walks fo life. So when credit is extended to people, they do not always think that it is important to pay the credit card company if they, the users themselves are not confident that they should have been extended credit.

Do you think you are credit worthy? Do you have a good sense of credit worthiness? If you have a sense that you are entitled to credit and use it wisely then it is ok. If you think that you don’t deserve credit then you will probably not feel as compelled to repay the loan that you have. Credit cards are short term loans that are designed to be repaid. When you don’t repay within a certain period of time, you have to meet the terms. If you made a loan with a loan shark that is to be repaid within days and you know that the threat is your health you do what you need to do to repay the loan.

Credit card companies have some cut throat rates for those who do not pay on time and quick and those are the people who they make the most money from. Credit Card companies do not make a lot of money from me. I pay on time and in full, or for a promo rate before interest charges apply.

Live up to your creditworthiness. Repay your credit card bills on time.

Don’t neglect your regular financial obligations during Christmas. If your finances are tight during Christmas and you have not budgeted for extra things make sure that you pay the bills that you are supposed to pay so at least you will not be behind on your regular bills.

I am not advocating financing a fabulous Christmas but let’s say you know for sure that you are going to have extra money in two or three weeks from a Christmas bonus or your bills will be paid for out of two pay periods instead of three then go ahead and use your credit card to make your purchases. Remember to pay them off!

Another way to do this is to see which credit cards you already have offer special deals of 90 days same as cash with a minimum payment. The amount you spend may not be manageable in one payment but you may be able to easily pay off your gifts in three payments. If you haven’t already saved for Christmas this is the best way to do it.

Follow your spending plan. If you haven’t saved or budgeted Christmas shopping into your finances do the best you can now by using creative financing or make gifts for people. If you can’t make things offer coupons with services that you can do: An hour of babysitting, a homemade lunch or batch of cookies. Put together a jar of your special cookie mix with all the dry ingredients or a jar of your special pasta sauce with some pasta.

Christmas is what you make it and it doesn’t have to make you broke to celebrate.

Shop with a list. This is important when you go grocery shopping so you do not forget anything but also so you will not overspend. When you go shopping for Christmas shopping it is important to go shopping with a list because if you do not shop with a list you may spend more than you intended and also you may forget something.

When you are Christmas shopping make a list of people you need to shop for. Make a note of how much you would like to spend on each person and if you had any ideas of what you want to get the person. This is much easier than having to go back to the store or having to make another purchase and pay additional shipping costs.

The threshold for free shipping is often $25 which isn’t a lot if you are buying a couple of items but let’s say you wanted to buy a $15 game for a cousin, you’d have to pay shipping for the item. Or if you left that item off of your shopping list that could mean an extra trip to the store.

Making a list of everyone you need to buy a gift for and the amount you budgeted for their gift is a smart way to shop and can save you time and money. After you have made a purchase make a notation that you have already purchased a gift for that person. That way you won’t inadvertently buy another gift for the person.