The Missouri Bar

Budget Wisely for Holidays in Tough Economy

Many Americans will tighten their belts this holiday season, which others still feel the pressure to buy, buy, buy thanks to catalogs that entice their children with toys galore.

It is easy for consumers to get caught up in Black Friday sales - which don't always offer the best bargains. Some holiday shoppers spend more than they budgeted for with unexpected, last-minute gifts, or pressure from friends or family to buy big.

Want to have a nice Christmas without breaking the bank? Here are some questions to ask yourself while Christmas shopping:

• How badly do I, or my family, need this item?
• Is this a quality item that is a long-term investment?
• Can I pay for this in cash and still pay my bills?
• Can I pay this off this month?
• Can I find this cheaper somewhere else?
• Would I buy this if I waited until tomorrow?
• Am I willing to give up something else to afford this item?
• Can I make this at home for less cost?
• Am I buying this because it is needed, or because I feel pressured to do so?

Be sure to check your debt and winter bill estimates first to determine your holiday gift-giving budget. Don't forget to include holiday meals in your budget. These, too, can get costly.

If you like to shop online, MSNBC offers this Web guide for sites that help you find the best deals.

Gubernatorial Candidates Talk Higher Ed

Student loan debt rises

As Missouri gubernatorial candidates Republican Kenny Hulshof and Democrat Jay Nixon square off with their visions for higher education, families across the state find themselves wondering how they will pay for college.

Some have urged government officials to buy up bad student loan debt, along with housing loans, to save the U.S. economy. Even if that is an option, it doesn't help students in bad financial straights now - or those in still in school and staring down a mound of debt that could remain for a lifetime.

Students are borrowing more for higher learning - and adding on some whopping credit card debt for books, parties, food and other items. With credit limits being reduced or, in some cases, retracted, and with students finding jobs that make a wage smaller than they need, the credit crunch has put the pinch on these young graduates.

But there is hope for some through the College Cost Reduction Act of 2007. What is it and how can it help you or your college grad? Law in Your Life host Angela Wilson finds out from attorney Steve Murrell in this podcast on college debt.

Law in Your Life #56: Medical Bills

Medical expenses are some of the most costly to pay - especially for the uninsured. What you may not know is that hospitals typically overcharge for services, or bill you for services that were not performed. What else should you know when dealing with mounting medical debt? Law in Your Life host Angela Wilson sits down with attorney Larry Ferguson to learn more.

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Law in Your Life #47: College Student Debt

Credit card companies can't wait for a new set of students to enter Missouri colleges this fall. Sometimes using deceptive tactics like T-shirt giveaways and free food, companies are laying in wait to sign up students for credit. But many times, these students aren't equipped to handle it, mentally and financially. What should students - and parents - know before they hit the quad and find tantalizing credit card offers? Attorney Debra Lumpkins shares with host Angela Wilson.

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