ICFE eNEWS #07-23 - December 2nd 2007
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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 

Ask Mr. G's
"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.


About the ICFE:

The Institute of Consumer Financial Education (ICFE) was founded in 1982 by the late Loren Dunton (creator of the Certified Financial Planner (CFP) designation).  The ICFE is dedicated to helping consumers of all ages to improve their spending, increase savings and use credit more wisely. 
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, which is updated annually. The ICFE 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 was an active partner in the California Student Debt Resource Awareness Project (CASDRAP) which resulted in a new web site: (studentdebthelp.org).  CASDRAP disbanded in 2010, shortly after the web site project was completed.  In 2011 the ICFE assumed the single sponsorship of the (studentdebthelp.org) web site and is now responsible for its content and operation.

The ICFE is also an on-line help for consumers who spend too much.  ICFE's spending help was featured in PARADE Magazine in the Intelligence Report section. The money helps and tips are from the ICFE's Money Instruction Book, our course in personal finance.

Visit the ICFE's other web sites at: www.financial-education-icfe.org and studentdebthelp.org.  Both sites helps consumers and students 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 how to teach children about money. Other ICFE services include: Ask Mr. G,  a free eNews, and an online resource center for students, parents and educators, plus financial education learning tools and a book store.

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