When thinking about holiday spending, most people typically fast-forward to December’s big budget busting holidays. However, it pays to think thrifty all season long—starting with Thanksgiving. While a turkey alone might not tip your financial scale, holiday food, travel, decorations, and entertainment can really add up. Thankfully, Thrifty Thanksgiving includes a lot of ideas to help you trim the fat from your Thanksgiving budget. In addition to ideas on how to stretch your dinner and budget, Thrifty Thanksgiving covers:

-Step-by-step instructions for decorating on a dime
-5 ways to keep tradition
-5 ways to break tradition
-Travel tips
-Tips for staying in the black on Black Friday
-How to make the most of leftovers
-Ways to incorporate “thanks” into your Thanksgiving

Thrifty Thanksgiving also offers a holiday checklist to help you organize your plans. After all, a little planning can help you enjoy and tasteful and thrifty Thanksgiving.

The Thrifty Thanksgiving eBook can be downloaded for free by visiting http://Thanksgiving/MoneyManagement.org.

Because there are many types of auto insurance available, it is important to understand what you are getting for your money.

-Liability. The most important type of insurance, liability covers costs associated with property damages or bodily injury caused by you or a member of your household. It could protect you from losing everything in a lawsuit.

-Collision. If your car is damaged in an accident, collision coverage will pay for the damages.

-Comprehensive. Damage to your car by factors other than an accident (fire, vandalism, theft) are covered by comprehensive coverage.

-Medical payments. This coverage guarantees immediate medical payments regardless of who is at fault. It also covers you and members of your household in any accident involving an automobile, even if you are walking or on a bicycle.

-Uninsured motorist. This coverage protects you if you are ever in an accident caused by an uninsured driver. It may also provide protection in a hit-and-run accident.

-Underinsured motorist. If an accident is caused by someone who is not adequately insured, this insurance would cover the additional expenses.

-Gap insurance. A type of insurance growing in popularity, gap insurance covers the difference between an insurance settlement and your loan or lease balance.

-Extra coverage. Some people choose to pay for voluntary coverages. Coverages available include towing insurance, auto glass insurance, emergency roadside insurance, and rental insurance.

-No-fault. No-fault insurance is required in many states. With no-fault insurance, your insurance company would cover your expenses in an accident—regardless of who was at fault. Other drivers would be covered by their own policies. No-fault insurance eliminates the need for accident victims to establish another’s liability in a lawsuit.

Most types of insurance are available with different levels that limit the dollar amount the insurer will pay in the event of an accident. Generally, the lower your limit, the less the insurance will cost you. The potential downside to low limits is that if you are ever in an accident, your coverage may not cover all of your costs.

Some insurance policies also have deductibles. Your deductible is the amount you would have to pay before your insurance policy kicks-in. For example, a $500 deductible means that you pay for the initial $500 of each loss. The higher your deductible, the lower the cost of your policy. However, you should consider how much you would realistically be able to pay if you were involved in an accident.

Also, you should be aware that it’s common for auto insurance companies to use credit information when deciding whether to issue a policy on your car and at what cost. Therefore, it pays to maintain a positive credit history.

Note: I am not an attorney. The above information is being shared for educational purposes and should not be interpreted as legal advice.

The fourth annual Regiftable.com story contest is underway! Regifters from around the nation are invited to share their regifting stories and videos for a chance to win prizes valued up to $500.

Regifable.com is a forum for all things regifting, including an archive of more than 1,000 consumer stories running the gamut from the heartwarming to the horrifying. In addition to this year’s regifting story contest, the site also offers a cool game (nope, I am not going to reveal Regifting Robin’s secret!), regifting facts, personalized gift certificates, free eCards, regifting party rules, a song to rewrap by, and much more.

We created Regiftable.com to give people a fun way to learn more about regifting, and to start the conversation on a topic many people are reluctant to discuss—holiday spending and financial worries. Holiday gifting this year may be particularly difficult as economic stressors continue to stretch family budgets.

Let me start by saying that I am glad to see states, like Colorado, take an interest in helping consumers understand their options for managing debt. Unmanageable levels of debt have a far reaching impact that can easily damage the foundation of a family’s financial security. I feel strongly that consumers should research all of their options and choose the solution that is best for their unique situation—and I hope that this study encourages consumers to do just that. My greatest concern is that this report will discourage consumers from seeking the help they desperately need. After speaking to a representative from the Attorney General’s office, I felt that some clarification was necessary. Therefore, I would like to specifically address some of the study’s findings.

First, the report reviews nonprofit credit counseling organizations, for-profit credit counseling firms, and debt settlement companies. There are distinct differences between organizations that offer financial help and consumers will want to know exactly who they are working with (take, for example, this recent article in the Star-Ledger). The Attorney General’s office acknowledges this fact and has even created a document to help consumers understand the differences between service providers.

Trustworthy agencies will offer free education and detailed information about all the services they provide. Their counselors will discuss consumer’s entire financial situation and help them develop a plan based on the best option for their personal financial needs. Some things to consider when choosing a reputable credit counseling agency include:

-The credit counseling agency should have a strong history.
-The credit counseling agency should be accredited by a neutral third party, such as the Council on Accreditation (COA). If they state that they’re accredited, make sure the accreditation is current, not lapsed.
-The counselors at the credit counseling agency should be certified by an independent organization such as the National Foundation for Credit Counseling (NFCC).

According to the report, Colorado consumers paid an average of $495 for credit counseling. Credit counseling through a reputable credit counseling agency is free. Money Management International (MMI) is a nonprofit organization that also offers education services and housing counseling services to consumers free of charge. If a client chooses to establish a Debt Management Plan (DMP) with MMI, there is a one-time setup fee and a monthly charge to contribute to the administration of the Plan. Under Colorado law, the maximum setup fee is $50 and the maximum monthly fee is $50. MMI and other reputable agencies do not charge either of these maximum amounts and even waive or reduce fees based on a client’s inability to pay. In contrast, debt settlement providers may charge 18 percent of the total principal amount at the time of enrollment.

The report only addresses debt management and settlement. Reputable credit counseling agencies have multiple ways to help consumers achieve their financial goals. Here are a few of MMI/CCCS’s statistics to consider.

In 2008:
-MMI conducted a record 608,533 counseling sessions;
-more than 96,000 consumers benefited from MMI’s education seminars and community outreach programs;
-the total number of delinquent mortgage sessions increased an astonishing 215 percent over the previous year to more than 126,000;
-MMI helped consumers begin the process of seeking 40,000 loan modifications through our affiliation with the Hope Hotline;
-nearly $1 million was granted to more than 1,700 homeowners through the Preserving Homeownership And Savings Education Strategy program;
-MMI helped 47,475 older Americans understand their financial options through reverse mortgage counseling sessions; and
-more than 1.7 million consumers visited MoneyManagement.org for financial education and guidance.

In addition to credit and budgeting counseling, foreclosure prevention counseling, and reverse mortgage counseling, MMI is also approved to deliver bankruptcy counseling and education services.

Also according to the Report, less than 10 percent of Colorado consumers successfully resolved debt through a debt management plan or debt settlement. Speaking specifically “success rates” is personally difficult for me because I truly believe that MMI’s success rate is 100%. Our mission is to improve lives through financial education. The value of counseling and advice is to share information and clarify goals. We don’t tell clients what to do; we value their ability to make the best choice for their particular circumstances.

As for the consumers who elect to establish a Debt Management Plan (DMP), success comes in a number of forms. Some consumers need temporary assistance while others repay their debts entirely through the program—both are successful. Even clients who struggle with debt repayment take away valuable information about budgeting and money management. All that being said, I can safely say that the majority of clients who start DMP with MMI end up successfully completing or taking over and self administering their situation after being on a plan for a period of time. The minority close purely for non-payment at MMI.

According to the report, the average contract term was nearly 41 months for credit counseling. I agree with Attorney General Suthers when he says that credit counseling is not a quick fix. In fact, I would urge someone to proceed with caution if they are promised a quick fix for digging out of debt. Consumers should carefully consider all their options and understand that it will take time and determination to meet their goal of becoming debt free.

I wrote this post because I want to be sure that people who really could benefit from MMI’s many services are not discouraged from doing so. Just last month, I received hundreds of letters from former clients telling me how their lives have improved since repaying their debts. They use words like “free,” “incredible,” and “proud.” We understand that the Debt Management Plan (DMP) is just one of the many ways to repay debt; however, for many, it is good choice.

Thank you for the opportunity to share my thoughts.

Filing for bankruptcy protection can impact your credit report and score for up to 10 years. The good news is that no matter how bad things look, you can always bounce back and re-establish a good credit score. Following are some ways to re-build credit after bankruptcy.

Pay yourself first. Unfortunately, bad things sometimes happen to good people. Expect the unexpected and put money away for the rainy days. Having an emergency fund can keep a minor financial setback from turning into a major financial crisis.

Clean up your credit report. It’s important to take the necessary steps to dispute any incorrect information on your credit report. Visit AnnualCreditReport.com for one free annual credit report from each of the three major bureaus.

Get a secured line of credit. Obtaining new credit (with reasonable repayment terms) after a bankruptcy can be difficult. Consider a secured account or a small personal loan with a bank or credit union if traditional lines prove to be too costly.

Use credit wisely. Credit cards are useful, but should only be used as a tool of convenience and not as an extension of your income. Always have a plan for payoff when making purchases with credit cards; ideally less than 90 days.

Pay bills on time. Create a calendar with due dates and payment amounts. Set up automatic payments with your bank to ensure timely delivery. Also, don’t neglect creditors such as the phone and utility companies. Many people don’t realize these are creditors too.

When trying to reestablish credit, it pays to be persistent and patient. The good news is that scores are continually updated and may move several points each month.

The FTC’s Money Matters website offers a wealth of information about spotting and avoiding scams and rip-offs when dealing with mortgages or loan modifications, using job placement services, and applying for credit and loans, in addition to coping with debt.

Make your virtual savings real
If you buy a $100 jacket on sale at 50 percent off and pay $50, have you saved $50? Of course not. (But you already knew that, didn’t you?) Yet many people succumb to the notion that “a bargain ain’t a bargain unless you buy it,” as if the savings from a discount were as tangible as money spent, says Peter Tufano, Ph.D., professor of financial management at Harvard Business School in Boston. To make your savings concrete, jot down the amount of the discount—$25 off your new Flip cam, for instance—then transfer that money directly into your savings account. This time, you’ve truly saved $25.

I wish I had thought of that! (Actually, that is how I feel every time I read the work of MP Dunleavey.)

I read a lot of magazine articles about money saving tips, but this tip stood out for a number of reasons:

-You’ll think before you buy. It seems as though things look better when they’re on sale. A dress you would never consider for $100 might look very attractive at $30. (70% off seems to be my breaking point—I lose all perspective!) With this new savings strategy, you are still committing to $100, so you’re likely to view things more realistically.

-You’re rewarded twice. Getting a great deal on something you love can be rewarding, but the comfort of knowing that you have something set aside for emergencies is valuable too. By stashing your savings, you’ll get the best of both worlds.

-The New Year will be off to a great start. There is a sale for every occasion and the upcoming holiday season is no exception. By making your virtual savings real, shoppers won’t be able to help saving. If you have trouble sticking to your stashing, try imagining how great it will be to start the New Year with savings instead of debt.

Speaking of debt, I should mention that this savings strategy only works if you’ve got the money to spend and save. As a general rule, charges should not be put on a credit card unless the balance can be paid in full when the monthly statement comes in. Remember, financing purchases—even if they’re on sale—is rarely a bargain.

The first step to successful couponing is to overcome those mental barriers. You may have a few of your own:

-Mom always told me it was a waste of time. Mother is always right, right? Wrong. The key is organization and finding just a few extra minutes to dedicate to saving. Just because it didn’t work for someone else doesn’t mean it won’t work for you.

-Coupons are only for the really expensive items. Sometimes, but the trick is to find name brand items when they are on sale. Using a coupon on a sale item equals savings.

-I have ZERO extra time. I’m hardly an expert, so I probably don’t spend nearly the time clipping as a real master. I’ve found that the key is just starting and starting small. You’ll find your comfort zone once you start saving.

-I don’t quite get how price matching works. I discovered that you can save money even when you don’t have a coupon. Start by collecting store flyers each week. I have found that the best savings are for beef, chicken, and pork. Take the flyers with you and simply ask your store to match the lowest advertised price. Just last week I saved over $6.00 on the price per pound match on a sirloin steak.

Check out these results!

When you’ve looked yourself in the mirror and made a dedication to saving, here are a few pointers to get started:

1. Research.
There are so many online resources out there for coupon trading, coupon selling, coupon printing, coupon clipping and coupon organizing. A couple of my favorites are CouponMom.com and Couponizer.com.

2. Take it one week at a time.
Push yourself to do a little more each week. The first week, just focus on one store flyer. The second week, plan a menu around sale items. Change can be tough and overwhelming, so start small.

3. Plan and organize.
Set aside some time to clip coupons, make a list and plan your meals each week. Get an expandable file folder or a binder with business card inserts and create categories to file your coupons.

4. Find a store that matches prices and/or doubles or triples coupons.
Price matching is where I’ve saved. Add a coupon on top of the price match and that’s a real savings.

Stay tuned. Good luck and happy saving!

Do you have any tips or tricks? What kind of savings have you seen? Tell us about it!

Identity theft is a complex crime. The impact of the crime is significantly magnified when the imposter is someone you know and trust. If you find yourself in this situation, you have several options:

-Proceed as if this was a regular case of ID Theft by filing a police report and cooperating with law enforcement’s investigation.
-Work with the creditors to see if a resolution can be made without police involvement.
-Hire a mediator to help devise a solution.
-Pay the debt and live with the consequences.

You might also consider encouraging the impostor to seek professional counseling.

Because none of the options are easy, by far the best solution is to help prevent the theft from ever occurring. In honor of National Protect Your Identity Week (PYIW), October 17-24, 2009, consider the following tips to protect your personal information:

Lock it up. Invest in a filing cabinet that locks. File all personal documents including credit card and bank statements, tax documents, and any other financial paperwork that are kept at home.

Use passwords to protect your computer. Be sure to password protect your computer and all files on your hard drive pertaining to your finances. Change passwords often and be sure to use a password that is not too easy for thieves to figure out.

Keep credit cards and PIN numbers safe. Do not keep your bank or credit card PIN numbers in your wallet or anywhere near your debit and credit cards. Also, do not lend your card to others or share your PIN. If you have already made this mistake, call the issuer to get a new card and change the PIN. Additionally, do not carry your Social Security card around with you. It should also be kept in a secure location.

Choose your houseguests wisely. Use caution when inviting strangers into your home. Be extra careful when choosing someone to housesit or pick up your mail when you are on vacation. Consider asking the post office to hold your mail when planning to be away for more than a few days.

Go paperless. Research shows that people who bank entirely online reduce their chances of becoming identity theft victims by 10 percent. Also, consider investing in personal finance software to track expenses and pay bills online.

No one can completely protect themselves from all types of identity theft. If you become a victim, time is of the essence. Acting quickly and thoroughly can limit the potentially far-reaching impact identity theft may have on your finances and life. For more information about protecting your identity, visit USDOJ.gov or FTC.gov.

With so many families struggling financially as unemployment rates continue to rise, it’s ironic that less people are calling it quits. According to the American Academy of Matrimonial Lawyers, 37 percent of the divorce attorneys polled reported that they’ve see a drop in cases during the recession. Divorce can be incredibly expensive, which could be why more and more couples are finding ways to work out their problems.

If the economy is taking a toll on your marriage, consider a separation. A little time and space could do wonders for your relationship. While it may be hard for people involved in an emotionally-draining separation to clearly think about their money, it is absolutely imperative.

Pull a copy of your credit report. You will want to review entries carefully and either close all joint accounts or change them to individual accounts.

Alert your secured lenders. Make sure your lenders know about your marital status and instruct them not to allow any changes without your permission. You may also want to “freeze” joint bank accounts or divide any funds into two individual bank accounts.

Develop a plan to pay down debt. If the relationship ends in divorce, your divorce decree is an agreement between you and your spouse (not your creditors) on how your debts and assets will be divided. Paying down debt now will help to eliminate some of the burden of having a big debt load after a divorce.

Be realistic about the future. Create a financial plan for each potential outcome. Consider hiring a trusted financial advisor for help; be certain to ask about your advisor’s experience with divorce and marriage separations.

Because a marriage separation can be a very complex process, consider marriage counseling. A marriage counselor can help you see another side to marriage, resolve differences and help to open the lines of communication. Marriage counseling can help you rebuild your relationship or help you decide if divorce is the best option. Either way, you owe it to yourself and your marriage to try every possible solution.