Jim Garnett, aka "Ask Mr. G", is a charter member of the ICFE's
Board of Educational Advisors. Ask Mr. G answers over 4,000
questions a month from ICFE web site visitors. This eNEWS, written
by Jim,
deals with frequent questions from consumers of all ages.
Contact Jim at: AskMrG@yahoo.com
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Ask Mr. G's
TOP 10 LIST FOR CHRISTMAS
"Things To Remember"
1. Remember to start paying for Christmas a year in
advance with deductions to a Christmas account instead of
waiting until December to charge it all.
2. Remember credit cards represent debt, not money.
Each time you use one it is like taking out a loan at the
bank!
3. Remember that access to buy and ability to afford
are not the same. Credit gives us access, money gives us
ability.
4. Remember not to give in order to get. Some
calculate what they will give by what they will get in
return.
5. Remember not to confuse giving with buying. The
most appreciated gifts are ones involving an investment of
time and talent, not just our treasure.
6. Remember that it is not necessary to match the
value of every gift you give with every gift you receive.
Some on your list have more ability to spend for Christmas
than you do.
7. Remember to pay off Christmas charges quickly.
Paying off Christmas debt with minimum payments will
prompt a visit by "the ghost of Christmas past". It takes
8 years to repay $1000 credit card debt if you pay only
minimum payments (plus $900 extra for interest).
8. Remember to give to someone who has no ability to
repay, or give to someone anonymously.
9. Remember to spend within your means. Decide what
you are going to spend beforehand rather than be surprised
at how much you spent afterward.
10.Remember whose birthday it is. Help your family
emphasize the real meaning of Christmas with a birthday
cake for Jesus and special gifts to those in His service.
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About the ICFE:
About the
ICFE:
The Institute of Consumer Financial Education (ICFE), founded in 1982 by the
late Loren Dunton (creator of the “certified financial planner” (CFP)
designation) and it is dedicated to helping consumers of all ages to improve
their spending, increase savings and use credit more wisely. The ICFE trains and
certifies Personal Finance Instructors for its own curriculum. It also trains
and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.
The ICFE is an award winning, nonprofit, consumer education organization that
has helped millions of people through its education programs and resources. It
publishes the Do-It-Yourself Credit File correction Guide, now in its 16th
printing and has distributed over one million “Credit/Debit Card Warning Labels”
and “Credit/Debit Card Sleeves” world wide.
The ICFE became an official partner with the Department of Defense/Financial
Readiness Campaign in June of 2004.
The ICFE is also a partner in the national Jump$tart Coalition for Financial
Literacy and the California Jump$tart chapter. The ICFE staff is also active
with San Diego Saves, an offshoot of America Saves, and the California Student
Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).
The ICFE’s on-line help for consumers who spend too much was featured in PARADE
Magazine in the Intelligence Report section. The money helps and tips are from
“The Money Instruction Book,” a course in personal finance, positioned to become
among the premier programs in the new bankruptcy and debtor education
initiatives.
The ICFE Web site at:
http://www.icfe.info helps consumers with mending spending, learning about
the proper use of credit, budget and expense guidelines, how to set up and
implement a spending-plan and also how to access financial education courses and
videos and how to teach children about money. Other ICFE services include a free
eNewsletter, and an online resource center of financial education learning
tools, including videos, books, software and personal finance courses.
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