Are you saving your holiday shopping for the big sales? Maybe waiting for Black Friday before you open that wallet up for friends and family? Well, you’re not alone. Everyone is saving, searching for the best deals, and being more financially responsible with the little budget they might have for holiday shopping.
While a steady decline in sales since last October has slightly leveled off, amazingly sales of electronics have gone up, as well as online sales. It’s no surprise that online sales are increasing, now that consumers have become both more financially responsible as well as more internet savvy.
Another big seller, if you can say ‘big seller’, this Black Friday will be ‘gifts of lasting value’, as the Wall Street Journal says. Besides shopping for bargain, consumers will also be looking for practical gifts that will last. With unemployment rates at 10 to 15 percent in some places, it’s not really a surprise that consumers are looking for quality items that can withstand the test of time. Who knows what will happen in the future with this economy?
"Retailers have to dig deep and pull out their A-game right now, because it is a very competitive environment," Mr. Snyder said. "Whereas you might have given something more trendy in the past, a down comforter is relevant to what is happening right now." (WSJ)
So, how do you keep your holiday spending within reason this holiday season? It’s all about how you pay. Cash is always best, and while many more consumers will be using cash this year because they’ve learned financial responsibility, many will still use their credit cards. If you must use credit, chose the card with the lowest APR. If you have the funds coming in to pay off your credit spending within a reasonable amount of time, put all your holiday purchases on one credit card, preferably the one with the lowest APR and highest available balance.
But, you say you want those amazing deals that you can only get with a store credit card? Well, then get it, but make all of your holiday purchases with that card at that store. Don’t use another credit card for another family member at another store. This is how the domino effect takes over your credit debt.
This store may have a great deal for Uncle Buck, but that store has a better deal for Aunt Petunia. How can you possibly pick one relative over the other, one store credit card over the other? You’re going to have to if you’re working to keep your credit balance and debt low. Chose one store that you want to get the best deals from, and do all of your holiday shopping at that single store. This will help you stay out of debt.
Sure, you can use your credit card during the holidays, if your financially responsible and completely able to pay off what you spend within a short period of time. If you do get yourself into trouble, give debt settlement a look at http://ping.fm/w5PUl
Tuesday, November 24, 2009
Monday, November 9, 2009
Obama Signs First Time Home Buyer Extension
Not too long ago we brought up the possibility of a first time home buyer tax credit extension. Well, we’re no longer seeing a possibility, because the extension has become a reality. It’s a great thing for the real estate industry, as well as first time home buyers1
The new deadline for the first time homebuyer tax credit is April 30, 2010, which gives buyers, and sellers, plenty of time to boost the market even more.
The bill will expand the homebuyer tax credit to more families, phasing out for individuals with income above $125,000 and for joint filers with income about $225,000 (the current law credit phases out for individuals with income starting at $75,000 and for joint filers with income starting at $150,000). It also creates a $6,500 credit available to homebuyers who have been in their current residence for five or more consecutive years out of the last eight years. – Maryland RealEstateRama.com
For everyone who is taking advantage of the extended first time home buyer tax credit, it’s important to remember that no matter when you purchase your first home you must file for the tax credit with you 2009 taxes. Speak to your financial counselor or tax man to find out exactly how to do this and claim your credit return.
When President Obama put pen to paper and extended the tax credit, he also extended certain jobless benefits that were all included in the ‘Worker, Homeownership and Business Assistance Act of 2009’. This bill was singed into effect at a time when the national unemployment rate has officially hit 10%, an amazing number. Even while the stock market is climbing and breaking records, and the economy is slowly turning around, the unemployment rate is continuing to rise.
This extension of the first time home buyers credit was a much needed break for many individuals looking to live that American dream. While many first time buyers were scrambling to sign the paperwork before the November deadline, they now have a renewed sense of hope and some much needed time to find exactly what they’re looking for.
The initial tax credit for first time buyers gave a much needed boost to the real estate industry, and thus the economy. Many experts argued that without the tax extension, this volatile housing market that was beginning to stabilize would simply plummet. When it looked that the tax credit was going to expire in November, the housing market slowed and fear rushed back into the minds of those in the real estate industry.
Jim Shirley, a broker at Gum Tree Mortgage in Tupelo, Mississippi said 60 percent of the mortgages his company is working on now in New Albany, Oxford and Tupelo are directly related to the tax credit. – UPI.com
Joey Guyton, owner of J. Guyton Group, said 90 percent of his home sales over the past three months in a neighborhood geared at first-time homebuyers have been directly related to the tax credit. – UPI.com
The growth of the housing market over the summer was due greatly to the first time home buyer credit, and thanks to the extension the market will hopefully continue to grow well past the April deadline.
Looking to get out of debt with your 2009 tax return? Let us help you out! Visit http://www.yourdebtnegotiator.com for more information.
The new deadline for the first time homebuyer tax credit is April 30, 2010, which gives buyers, and sellers, plenty of time to boost the market even more.
The bill will expand the homebuyer tax credit to more families, phasing out for individuals with income above $125,000 and for joint filers with income about $225,000 (the current law credit phases out for individuals with income starting at $75,000 and for joint filers with income starting at $150,000). It also creates a $6,500 credit available to homebuyers who have been in their current residence for five or more consecutive years out of the last eight years. – Maryland RealEstateRama.com
For everyone who is taking advantage of the extended first time home buyer tax credit, it’s important to remember that no matter when you purchase your first home you must file for the tax credit with you 2009 taxes. Speak to your financial counselor or tax man to find out exactly how to do this and claim your credit return.
When President Obama put pen to paper and extended the tax credit, he also extended certain jobless benefits that were all included in the ‘Worker, Homeownership and Business Assistance Act of 2009’. This bill was singed into effect at a time when the national unemployment rate has officially hit 10%, an amazing number. Even while the stock market is climbing and breaking records, and the economy is slowly turning around, the unemployment rate is continuing to rise.
This extension of the first time home buyers credit was a much needed break for many individuals looking to live that American dream. While many first time buyers were scrambling to sign the paperwork before the November deadline, they now have a renewed sense of hope and some much needed time to find exactly what they’re looking for.
The initial tax credit for first time buyers gave a much needed boost to the real estate industry, and thus the economy. Many experts argued that without the tax extension, this volatile housing market that was beginning to stabilize would simply plummet. When it looked that the tax credit was going to expire in November, the housing market slowed and fear rushed back into the minds of those in the real estate industry.
Jim Shirley, a broker at Gum Tree Mortgage in Tupelo, Mississippi said 60 percent of the mortgages his company is working on now in New Albany, Oxford and Tupelo are directly related to the tax credit. – UPI.com
Joey Guyton, owner of J. Guyton Group, said 90 percent of his home sales over the past three months in a neighborhood geared at first-time homebuyers have been directly related to the tax credit. – UPI.com
The growth of the housing market over the summer was due greatly to the first time home buyer credit, and thanks to the extension the market will hopefully continue to grow well past the April deadline.
Looking to get out of debt with your 2009 tax return? Let us help you out! Visit http://www.yourdebtnegotiator.com for more information.
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