Mastercard is feeling some pressure as consumers slow in their purchasing.

Over the past few years there has been a growing trend as more and more US consumers pull out a debit card to purchase goods instead of a credit card. It could be more of an awareness as buyers realize they need to pay with money they already have and not financing the future.

Mastercard may feel the tightening of credit card use but Visa on the other hand is watching their debit card business grow and produce stellar growth.

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If you are like everyone else in the world, you want to get out of debt, and put money problems behind you. One method of putting debt behind you is to start a savings fund, that can be used in emergencies.

An Emergency Fund You Can Rely On

An emergency fund is the jar in the closet, a savings account at the bank or a money market account you only make deposits into. What ever method you use, everyone needs an account to save up for a rainy day – because the rainy day will come! At a minimum of 3-6 two months of your income should be put away for a time when you have an emergency like a loss of income, disability, downsizing… the account is NOT for large purchases you want but have not planned for.

When you have a purchase you have to make right now where are you going to turn? You should not turn to your credit cards, who needs to add another payment? Getting out of debt is going to start with an emergency savings account and lifestyle changes. Setting aside a percentage of your income to pay for things as you need them when an emergency arises is going to help you get out of debt faster. Avoid using the credit card when you can for your best possible future financial outlook.

Getting out of debt begins one day at a time. Put your credit card in a bank deposit box so you have to wait before using it. Or if you don’t have a box in the bank, give it to someone you really trust, your mother, or brother or whatever and have them hold it and not give it to you for 24 hours when you ask for it. Waiting is the key to realize if it is a true emergency or if you just want to purchase something.

Getting rid of debt is all started by putting yourself on a budget. If you have a large family it can be more difficult to plan a budget, but it is something that can be done. Many people around the world are surviving because they make a budget and they are sticking to it. This is all from their foods they purchase, to the gifts they give, and even the clothes they buy. If you need to make smaller purchases or make purchases that are second hand, you will find ways to save money.

Saving money is all a matter of your mind and you can think positive and do it! Along with the use of credit cards come the interest rates which are always going higher. Higher interest rates are a pain the budget can’t bear. You need to stop using the credit cards, and find methods of paying those cards down fast so you can get a hold of your budget and start paying cash for the things you want. The more often you use cash, the more often you will find you will stay within budget.

Learn to down size to save money and avoid those extra bank fees. You don’t have to have the largest, the biggest and the best to have what you need in life. What you do need is fulfillment and completeness which isn’t always going to come from buying the most expensive when a lesser priced item is going to do just what you need. Do you need to spend $1,200 on a kitchen table, when you can purchase a nice table for $740 and seat more people? Downsize on the price, and think practical to spend less and stay in the budget.

The holidays are a grueling time, both mentally and financially. With numerous obligations and expectancies, you can become overwhelmed quickly in both capacities. The two often go hand in hand though, so by cutting out the financial burdens, you can also cut back on the mental stress and worry that accumulates leading up to Christmas. Here are a few money saving tips that should make your New Year outlook a little more promising.

Feeding the Masses

If you normally host one or more get-togethers during the holidays, you’re probably spending a good deal of money to feed all those ravenous guests. Your first plan of action should be to cut down on the number of mouths you need to feed. While it’s tempting to invite literally everyone you’re acquainted with, and you may feel awkward not inviting certain people, especially if they have invited you to a similar function, this is the easiest way to cut back on meal expenses that can quickly get out of hand.

Another consideration is to not worry about buying the most expensive ingredients or food you can find to impress your guests, but do so with creativity and good cooking instead. Taste is much more important than the price or look of something, and your guests bellies will agree.

Giving Gifts to the Masses

Presents are surely the thing we stress out about the most, and also the one area that saps our budget the most.

Family members will be very understanding if you let them know in advance that you won’t be able to spend much money on them this season. They may in fact be relieved, knowing that they won’t be quite as obligated to spend the same amount of money on you.

Kids on the other hand are not quite so noble, and may be disappointed if that new video game they wanted turn out to be a pair of winter socks. Your best bet is to shop in advance for them using auction sites or other methods where you can acquire items at a cheaper price, and still have them delivered in time. If you have kids with the same interests, you could also buy them one expensive gift that they can both enjoy as opposed to one each.

It’s often said, but if you can plan well in advance and space purchases throughout the entire year, or at least throughout the last half of the year, you’ll be much better off. Some people may be sickened by the mere thought of thinking about Christmas in June, but the June sickness may be better than the December stress, or the January credit card bills.

Traveling to Meet the Masses

As above, planning this element of the holidays in advance could save you a lot of money when it comes to air travel. Perhaps you can even get the tickets by putting those last few presents on your credit card and collecting those final few air miles.

Buying your ticket well in advance will save you a lot of money, but if you can swing flying on either Christmas Eve or Boxing Day, you’ll also receive good discounts. Same goes with New Year’s Eve.

In conclusion, there are many little things that can be done, and concessions that can be made to help you get over the financial burden of the holidays, and revel in the experience and camaraderie of your fellow man instead.