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MEDIA CENTER

The Money Minute - November 2013  

In this Issue

 


 

 Holiday Gift Exchange

Fun Holiday Gift Exchanges  

We have all probably been to a holiday gift exchange where everyone draws a name and purchases a gift for the person whose name they drew. Or, maybe attended a white-elephant gift exchange where everyone gives strange or funny gifts that were found in attics or basements. But wouldn’t it be nice to change it up a bit this year? Here are some different variations of the classic gift exchange that you might want to try.

 

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Preparing for the Holidays

November represents the traditional beginning of the holiday season. For most people, that means they will try to fit a lot of spending into limited budgets. It's not too late to create a plan to help you get and stay on track with your holiday spending. Apprisen has created two guides, the Holiday Spending Guide and the Toy Buying Guide to help people understand how to be in control when it comes to spending for the holiday season.

 

Read the entire article

 

Preparing for the Holidays

Webinar: November 19th
Preparing for the Holidays               

Ready or not, the holiday season is fast approaching. Are you prepared for the extra food, travel, entertainment and gift expenses? It’s not too late to create a plan to help you get and stay on track with your holiday spending.

  • How to set priorities
  • How to limit your holiday spending
  • Holiday savings tips
Tue., Nov 19th 12:00pm Eastern, 11:00am Central,
9:00am Pacific. 

 

To learn more or register click here

 

 Black-Friday

Don't Let Black Friday Lead to the January Blues  

At this time of year, millions of people put their financial common sense on the shelf, tucking it away into a winter hibernation of sorts, thereby making it much easier to take part in the once per year phenomenon known as Black Friday, the mother of all shopping days. The problem with this practice is that financial reality is just around the corner, never failing to emerge in January as a mailbox full of credit card statements.

Read the entire article

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Holiday Gift Certificates   

You don’t have to spend a lot of money to give somebody a gift that they will cherish and remember for a long time. Often the best gifts turn out to be the ones whose value comes from your time, energy, and thoughtfulness and not for their dollar value. Think about giving the gift of yourself this holiday season. You just might find that you are the best holiday gift under the tree.

To read the entire article click here.

 

 First Time Homebuyer Workshop Flyer Image Lexington

First Time Homebuyer Workshop 
Cincinnati, OH  

Apprisen wants to help you achieve your dreams by giving you the information you need to own your first home.

  • Preparing for homeownership
  • Working with a real estate agent
  • Understanding budgets and credit history
  • Finding and working with a lender
  • Home inspections and home maintenance
  • Preventing loan default

Each attendee will receive a HUD homebuyer certificate of completion at the end of the workshop.

To learn more about the dates or to register visit: www.apprisen.com/homebuyer

 

 

Fun Holiday Gift Exchanges    

We have all probably been to a holiday gift exchange where everyone draws a name and purchases a gift for the person whose name they drew. Or, maybe attended a white-elephant gift exchange where everyone gives strange or funny gifts that were found in attics or basements. But wouldn’t it be nice to change it up a bit this year? Here are some different variations of the classic gift exchange that you might want to try.

Alphabet Gift Exchange – Draw names as usual and then have everyone draw from a box a letter of the alphabet and purchase a gift that starts with that letter.

Around the World – Names of different countries are drawn from a box and the gift that is purchased must fit that country.

Choose Your Own Theme – All gifts must fit a certain theme.  For example, if you choose “red”, all gifts needs to be predominantly red. 

Thrift Shop or Dollar Store Purchase – This is good for large groups who may not know each other well.

Spring Cleaning – Have people look around their house for a gift.  Things like light bulbs, cocktail napkins, a screwdriver or whatever you can find as long as it’s actually something people would want.

ABC Gifts – The gift that is purchased must start with the letters of the person’s name they drew.  For example, Richard Smith could receive a red shirt. 

Cake Walk Exchange - Place numbered paper stars or ornaments randomly around the floor. When a certain bell is rung or music played, everyone stands on a number. Draw a number and the person standing on the number drawn gets to choose a gift first.

Holiday Laughter Exchange - Place answers to Christmas jokes (do a search and you will be able to find a lot of cute holiday jokes online) on gifts. Give everyone a joke and they get the gift that has their answer on it.

Treasure Hunt Exchange - A fun way to distribute gifts is to have a treasure hunt. This works well if it is for a family party. Clues could be given to each person as to where their gift is hidden or have an actual hunt that leads from place to place.


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Preparing for The Holidays

November represents the traditional beginning of the holiday season. For most people, that means they will try to fit a lot of spending into limited budgets. It's not too late to create a plan to help you get and stay on track with your holiday spending. Apprisen has created two guides, the Holiday Spending Guide and the Toy Buying Guide to help people understand how to be in control when it comes to spending for the holiday season.

Holiday Spending Guide
The Holiday Spending Guide will help you have no financial regrets this holiday season. It will offer you tips and guide you throught the process of creating a budget, minimizing unplanned spending, and making the most of the season while keeping your finances on track.

Download the Holiday Spending Guide.

Toy Buying Guide
The Toy Buying Guide will assist you to understand the implications of buying toys and games for children. The guide will have the answers to the most common questions and more.

Download the Toy Buying Guide.

 

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Don’t Let Black Friday Lead to the January Blues

Ramifications of overspending are too costly to ignore 

Americans can be generous – to a fault - and never is that character trait more evident than during the holiday shopping season.  

At this time of year, millions of people put their financial common sense on the shelf, tucking it away into a winter hibernation of sorts, thereby making it much easier to take part in the once per year phenomenon known as Black Friday, the mother of all shopping days. The problem with this practice is that financial reality is just around the corner, never failing to emerge in January as a mailbox full of credit card statements.

With avid shoppers counting down the days until the Black Friday bonanza, Apprisen offers the following 10 reminders of the ramifications of overspending:

  • Adding new debt on top of old is never a good idea, yet many people will enter the 2013 holiday shopping season still paying for 2012 purchases. When debt is carried over from month-to-month, cardholders lose the benefit of a grace period, the time during which a person can pay the monthly credit card bill before interest begins to accrue.  When debt is revolved, new purchases begin to incur interest immediately.
  • Paying interest on the interest occurs when debt is carried over from month-to-month. When a debt is not paid in full by the due date, interest is added to the balance. This amount adds up over time, creating an impediment to becoming debt free. 
  • Late fees and over-limit fees can cause balances to grow to an unmanageable level. Issuers may charge a late fee of $25 with the first late payment, and with 45 days notice, increase the Annual Percentage Rate (APR) to a higher interest rate on new purchases. However, consumers who make late payments more than once in a six-month period may be assessed a higher late fee with the penalty APR also applied to existing balances.  
  • An inability to pay as agreed could result in negative notations on a person’s credit report, with late or missed payments remaining on the report for seven years. Further, the all-important credit scores are based on information in the credit report. Along with other factors and depending on the extent of the delinquency, the drop could be by as much as 100 points.   
  • Less credit will be available on existing cards. Credit cards have a spending limit beyond which the user cannot charge without penalty. Since no one knows what tomorrow holds, over-utilizing open lines of credit can leave a person without a credit safety net for future purchases, unplanned expenses or emergencies.   
  • Diminished access to new or additional credit can be the result of irresponsibly handling existing credit.  Issuers are less likely to extend more credit to a person who cannot manage current debt obligations.  If credit is granted, it will likely be at a higher interest rate.  
  • Beyond credit cards, decisions involving Insurance, renting an apartment, establishing utility or cell phone services, or finding employment can be affected by a person’s ability to manage debt.  
  • Servicing a large amount of debt can diminish the amount of money available for other necessary components of financial stability such as saving or investing.  
  • Bills not paid on time can have very serious consequences including collection efforts, lawsuits, judgments and wage garnishment. Each of these can have a long-term negative impact on a person’s daily life as well as future borrowing power.
  • Overspending can force a person into making desperate choices such as resorting to pay-day loans, pawn shops, bankruptcy or debt settlement.

Now is the time for financial awareness, not after the damage is done. Consumers need to ask themselves if taking on unmanageable debt this holiday season is worth putting their financial well-being at risk.


 

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