Giving gifts does not have to be spendthrift. As the old adage goes, “It is the thought that counts”. This goes to show that people can start cutting back on gifts that would cost them hundreds of dollars. It is best to opt for things that may not be that expensive but would definitely bring joy and amusement to the one who will receive the gift.

So, if you want to give gifts but with a tight budget, worry no more because there are many ways to cut back on the prices but still be able to give gifts that will be deeply appreciated.

So you’ve gone through the long and terrible process of giving your details, only to find that you got turned down. This can feel a little insulting, like a rejection, especially if you feel like you could easily handle the card in question. So what can you do if it happens?

Try, Try Again.

Don’t get upset if you’re turned down at one company – they might have some strange requirement that you happen not to meet. Always try three before you start to despair.

Whatever you do, though, don’t spend a whole day applying for every credit card you can find, just to see if anyone will take you. Each check is counted, and lots of checks on your record make you look desperate, making it even less likely you’ll get a good card – this is known as ‘shotgunning’ your credit.

If you’re in a really bad situation, and you just can’t even make your minimum payments this month, don’t worry. You can negotiate your debts, and pay back much less than you owe – as long as they get their debt plus interest in the end, no-one is expecting you to pay the full amount when you just can’t afford to.

Settling your debts takes a lot of time, and many people find it intimidating. If you do it right, though, you’ll be surprised at how kind your creditors (that is, the people you owe money to) can be.

Close My Account.

It might feel bad, but if you can’t afford to pay that credit card, you’ll have to close the account – that means you can’t borrow any more money with that card. To close the account, you’ll have to negotiate something called a ‘payment plan’.

Do you have any idea just how common credit cards are? Let’s take a look at a few statistics from the USA.

The average family carries a balance of between $5,000 and $8,000 on all their credit cards, depending on which figures you believe. Over $1,000 per family goes on interest every year. And that’s just the average – some people owe much more! Overall, Americans spend over $1 trillion every year on their credit cards, and owe more than $500 billion of it.

If debt continues at the current rate, then one family in a hundred will be forced into bankruptcy. Over 90% of Americans’ disposable incomes are spent paying back debts. Whatever happened to saving?