Halloween is Over…Time to Budget for the Holiday Season

Halloween wasn’t scary…what’s really scary is that the end of the year is fast approaching and ’tis the season for your money to evaporate into thin air. Every year you swear that you are going to stay on a budget, but it’s so hard to do. And 2011 will be no different unless you take some proactive measures. One measure that is becoming more popular in this trying economy is to use a prepaid debit card.

With a prepaid card, you can predetermine the amount you want to spend for the holidays and just load it on your card. Or simply, set an amount aside with each paycheck and have your employer or benefits provider direct deposit it on the card – just like a bank! Prepaid cards are not for everyone, but there are some significant advantages for many consumers out there. Here are a few:

Not a Bank Credit Card

The cash you load is yours. You are not borrowing from a bank. No credit limit, no high interest charges, no danger of missing a payment and no lengthy application process. The major danger for most people with credit cards is the willpower factor as they run up high balances and deal with the consequences later.  continue reading