Mom-Friendly Recession Tips

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Another batch of money stories for my readers

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1.) Here's a article from on the Top 10 Birthday Gifts Under $20. Ideas include the thoughtful--Where the Sidewalk Ends(what a lovely book idea, just $12.77)) to the zany--Chia Pet($9.99 and up)

2.) In mortgage trouble? Debbie Smith is a real estate investor (check out her writing at Who better to get a perspective about today's crazy situation than someone deeply involved. Here's what Debbie has to say,

In today's market, banks are realizing that they have to be flexible with their clients. If you're a homeowner, you are the banks' client. They won't tell you this, but they don't really want to lose you as a client. Because they already have so many foreclosed properties that they don't know what to do with, many banks are now willing to make favorable adjustments to your loan. You need to be able to negotiate and talk to the bank about your situation. Homeowners who negotiate with their bank can end up with results such as lower interest rates and/or a lowering of the actual mortgage amount. This is called mortgage restructuring. When you talk with the bank be prepared to explain to them your special circumstances, and why they should do a mortgage restructuring for you. Many people who persevere with these negotiations are seeing some positive results.

3.) Jennifer Melnick calls herself the Gift Therapist. She's got a heaps of tips to save you money and time this holiday. Here are some of her ideas to keep things on time and under budget this holiday (for more ideas read her blog BargainZone).

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Tip One: SHOP NOW Competition for your business is going to be fierce this holiday season, and the retailers (big and small) are starting early with big sales.

Tip Two: SET YOUR BUDGET NOW If you haven't figured out your holiday budget yet, do so immediately.

Tip Three: ESTABLISH YOU GIFT LIST NOW With the tough economic conditions, you may consider paring it down this year. Rather than buy for each member of the family, why not consider a family gift? Instead of a gift exchange, why not host a huge pot-luck party with a "mystery gift exchange" where everyone is instructed to bring a $10 wrapped gift and you pull numbers for first dibs? Be realistic and creative!

3/24/09 I am linking up with Momkaboodle on a new feature Tightwad Tuesday and sending her this link.

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