Good advise from the National Foundation for Credit Counseling

This time of year with the holidays approaching it might be tempting to over spend while shopping for holiday presents. However, the National Foundation for Credit Counseling suggests these tips on how best to use your funds before getting too carried away. That's not to say that we should not enjoy this special time of year or skip the holiday gifts.

• Bring living expenses current. Housing, utilities and insurance are priorities.
• Bring secured debts up to date, too. For most people this means a vehicle. If you can't catch up completely on late payments, come up with a payment plan and ask your lender for an extension.
• Catch up on other debt. Make payments on credit cards to avoid late fees, a lower credit score, and maybe even a judgment or garnishment. Since it's harder to get a new credit card these days, it's important to use your current one well.
• Fix what's broken. Deal with that funny engine noise or the windowpane currently covered with cardboard. The longer you let problems go on, the more expensive the repairs may become.
• Save 10% of your earnings. Not easy, but vital.                        
• "A well-funded savings account is insurance against financial disaster" . After taking care of past-due accounts, of course.
• This information is not intended as and should not be construed as investment, tax or legal advice.