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Panic in The Stock Markets, What to Do?

By Deidre Shirley

There seems to be panic at the disco. Everyone is cutting back. Not that the cutback is unnecessary. Consumers have needed a diet for years. Consumer debt is out of control. People owe more for cars, houses, and debt then they are worth. People have bills to pay, but because of extravagences in eating out and other un-necessities, consumers are living pay check to pay check without any backup savings. It was high time reality hit and got us back on the ground. Modest living has its perks after all. Here is our top 3 ways to win out in this situation:

Home-made dinners aren't always as tasty as going out to eat, but there are some perks:

1. Healthier (lots of Americans need to lose some serious poundage, so this is going to help in more ways then one)

2. Families eating together helps them stay together, close-knit, and kids actually get better grades in school and have lower crime rates if they routinely eat dinner with their family.

3. Cheap. Cheap. Cheap. Home-made meals can be carefully planned to only cost 1or 2 dollars per family member.

Transfer balances: Now after you have cut back your extravagences, what else can you do to get back on track? If you are like millions of Americans, you are paying 8% or more in interest on your car loan. If your credit is good enough, get a 0% balance transfer credit card and put as much of the loan on it as possible. This will save you in interest money and get your car paid off quicker. This may also apply to any other loan you have or credit card with a revolving balance. Remember when the 0% apr expires to transfer your balance to a new credit card with no or low interest, or schedule it so that the card is paid off before the 0% rate exprires.

Trade straight-across used items for used items: After transferring balances around and cutting back on expenses, you need to keep your eye out for good deals. Trading has become popular again. On many internet sites, such as craigslist.com, you can trade your un-wanted items for items you want with local people, so there is no shipping involved. This may be popular this christmas - trade last years present for something your child wants this year, and even if its not new, your pocketbook won't feel any lighter and you can save major dollars this holiday season.

Published: Thursday 30th of October 2008 07:42:56 AM

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