In order to make the most out of your income and live without mountains of credit card debt, it only makes sense that both partners must find a compromise between what is spent and what is paid each month.

If you have a spouse or partner who is unwilling to go the distance to get your credit card debt in check, then it may be time to be a bit more creative when it comes to negotiations.

1. Don’t approach the conversation in attack mode. If your partner feels that he/she is being attacked or accused of accumulating the bulk of the credit card debt, he/she will certainly react by becoming defensive. Instead, approach the conversation using “we.” For example, “We should come up with a game plan for reducing our credit card debt so we can begin saving for a home.”
2. Include your partner in on the discussion. Instead of approaching your partner with all the answers, encourage him or her to become actively involved with finding a solution. You can certainly come with a list of ideas or suggestions; just avoid being the one with all the answers.
3. Sweeten the pot with a little incentive. You may try something like: “we could begin to put money aside for that Caribbean cruise if we just pay off this credit card debt first.” Having something to look forward is often a good incentive for paying off credit card debt.
4. Put it in writing so there are no misunderstandings or miscommunication. Detail clearly what is expected of each of you so that there won’t be any problems down the road. If you are both income earners, detail what portion of each paycheck should go to paying off the debt. You may also want to discuss the ways in which you can begin cutting back on your spending. But, once again, make sure you approach this conservation in a calm, non-confrontational manner so that you can better accomplish your overall goal of living debt-free.

The Blueprint card from Chase features an all new set of credit card tools that are designed to help us all manage our money and make our lives easier.

A Different Approach

Although there are a slew of credit card companies that have taken to cutting credit limits and raising interest rates this past year, the Blueprint card is taking a bit of a different approach; attracting customers by helping them manage the often-demonized credit card.

And if there’s one thing that credit card customers need during this tough, economic time is relief and assistance.

Budget-Friendly Features

The Blueprint card offers a myriad of neat features that are designed to help customers stay on track and stay on budget. If you’re like most people, you simply can’t believe that a credit card company may actually help you manage our debt, instead of help you get into it. But the Blueprint card actually accomplishes this – and more!

The Blueprint card helps customers understand how they are spending their money and where they are spending it. It also provides a tool that helps them calculate various payment options, thereby giving them a clear picture of how long it will take them to pay off their balance at their current monthly payment.

In other words, it can provide you with a snapshot, of sorts, so that that you can also see how much you will be paying in finance charges, over time, on the balance of your card. Often times, it is this eye-opener that encourages people to see just how much their purchases are costing them.

Full Pay Option

A valuable feature of the Blueprint card is the “Full Pay,” which allows you to pick a category – anywhere from grocery stores and gas stations to restaurants and retail stores – and then save. The Blueprint card then divides and separates your expenses into their proper categories; any expenses that fall under your chosen category are exempt from interest charges, even if you fail to pay our balance in full each month.

You swore you’d keep your spending in check this holiday season and lay off the credit cards. But here you are again: stuck with loads of credit card debt and equal parts post-holiday guilt.

Don’t give up hope just yet, though. The fact of the matter is that there are a few, simple ways to control your debt and spending and eliminate credit card debt so that it doesn’t rule your life.

The following tips will help get you started on a new, financially responsible 2010:

• Consolidate your debt – Often times, debt can seem all the more overwhelming and difficult to manage when you are struggling with numerous credit cards. Instead, consolidate your debt onto one credit card with a competitive interest rate and a fair balance transfer offer.
• Pay more than your minimum payment – Simply put, your credit card balances can go nowhere if you continue to pay just the minimum payment. Find at least a few extra dollars each month in your budget and put it towards your credit card bill – your balance will thank you for it.
• Order a copy of your credit report – You can’t begin to move forward until you clear up your financial past. Order a copy of your credit report from all three major credit reporting agencies (you are entitled to one free copy each year) and take the time to thoroughly check them out so you can move forward with your financial plan.
• Cancel any retail credit cards – Retail credit cards are often an invitation for financial trouble. Too much temptation combined with high interest rates often spells trouble for credit card consumers.
• Consider a home equity loan – If you have equity in your home, consider using it to your advantage and use it to pay off your credit card debt. However, if you don’t change your spending habits, you will likely end up in the same situation in the upcoming year.
• Make a budget and stick to it – Which leads me to the last tip: make a budget and stick to it. The bottom line is that if you don’t make a point to change your spending habits and your view on finances, you will likely find yourself in the same financial mess as you are in right now. If your finances and credit card debt are more than you can handle, consider speaking with a non-profit consumer credit counseling service.

1. Forget about your budget – One of the easiest, most surefire ways to get yourself into deep credit card debt is to spend like you have no budget. Many individuals, with a credit card in their hand and a hefty credit card limit, are likely to overspend. This is because a credit card can quickly give individuals a false sense of wealth and security when, in reality, it is debt that they simply cannot afford to pay off. Making a budget and sticking to it is often a great, first step in reigning in your credit card purchases and keeping your mind realistic about your expenses.
2. Pay only the minimum payment – It may be incredibly tempting to pay on the minimum payment each month, but that will get your credit card debt nowhere fast. The best case scenario is paying off your credit card debt in full each month; however, if this isn’t possible, make it a point to pay more than the minimum payment so that you are paying on the principal of the loan, and not just the interest.
3. Make your payment late – Making your payment late is a great way to plunge yourself further into debt! From late payment fees and increased interest rates to a drop in your credit score, making late payments is, without a doubt, the best way to ensure that you will remain in credit card debt.
4. Take out cash advances – Cash advances are sneaky little conveniences that end up costing big in the long run. First of all, cash advances come with their own, higher interest rate than standard purchases. Second, they raise little red flags with your credit card company that you may be desperate, thereby often signaling a drop in your credit score and an increase in your credit card interest rates.

Many of us, in the midst of financial despair, may choose to ignore the creditor phone calls and letters; but this simply doesn’t solve anything. Instead, face the problem head-on and figure out what you can do today to get out credit card debt tomorrow.

• Sit down and make a budget. Not just a general budget, but a detailed budget that accounts for every penny going in and out of your household each month. Examine your monthly expenses and look for ways to cut back.

You may want to consider abandoning your land line if you have a great cell phone plan; you may want to drop your expanded cable television package for its basic counterpart; or you may want to make an effort to cut down on your grocery bill every month by clipping coupons and shopping sales. The bottom line is that most everyone can find an extra $50, $100 or more in their budget if they just take the time to re-examine their spending.

• If you’ve lost your job, make immediate, drastic cuts in your lifestyle. Don’t wait until you are behind on all your payments to start making changes. Immediately cut out all unnecessary expenditures and live lean until you can find another job and regain your financial footing.
• If you’re simply in over your head in credit card debt, and can’t seem to find a solution, you may want to consider contacting a non-profit, credit counseling service. These agencies can help you find ways to meet your financial obligations without getting bogged down by late payments and over-the-limit fees.
• If you find yourself struggling to make your minimum payment, you may be able to negotiate a lower, monthly payment with your creditor. Always remember that it never hurts to ask. Many creditors, aware of the financial problems of so many Americans, understand that it is in their best interest to help consumers find a solution to their credit card debt.

There are a few, simple ways, however, to make this holiday season memorable – without breaking the bank:

• Make your list and check it twice – There is nothing more detrimental to your holiday budget than wandering the stores without a general idea of what you are looking for. It is therefore of the utmost importance to do your homework, nose around and ask plenty of questions so that you can make a list of the holiday items your loved ones are hinting around for. You may also want to cruise the Internet to get a better idea of where to find certain items, to compare brands and to check prices between competitors.
• Create a reasonable budget and stick to it – Heading out the door to start your Christmas shopping without a budget in mind can spell disaster. So, along with your list, decide how much you can afford to spend on each individual. Although it may be difficult to stick to a budget, your wallet will thank you come January, when you will be one of the fortunate few not to have overwhelming credit card debt.
• Get creative and save – Remember that not everything needs to be expensive. It may sound contrite, but many individuals appreciate gifts from the heart as much as they do expensive ones. Use your talent for knitting to create a beautiful blanket for your new niece; purchase a gift card – and free babysitting services – to your brother and his wife; and frame personal photographs in unique and interesting ways for your parents.
• Check your credit card limit, interest rate and related fees before heading out the door. The last thing you need while shopping is trouble with your credit card.

The bottom line is that you can protect yourself and your credit now, even in the midst of a layoff.

Aside from curbing your spending and putting yourself on a tight budget, there are a variety of things you can do now to protect your finances and your credit following a layoff:

1. Always pay your credit card on time – no matter what! The worst thing you can do is to simply throw your hands in the air and admit defeat. Do whatever you need to do to pay your credit card bill on time each and every month. You may want to consider lowering your monthly payment to cover just the minimum payment while you are unemployed, and that’s ok. However, not paying at all will do nothing more than put yourself in a sticky situation regarding your credit score.
2. Use your emergency fund to get by – Now is the time to dip into your emergency savings funds, if necessary, to pay your bills and take care of your monthly debts and obligations. However difficult it may be to use your savings account, remind yourself that this is the reason you established it in the first place. You can also replace your savings once you get a new job, but you can’t repair your credit that easily.
3. Avoid dipping into your 401K – In extreme circumstances you may need to borrow against your 401K to get by during a layoff or other financial difficulty, but this should be the exception and not the rule. The penalties and fees you will pay to borrow money from your 401K simply don’t make sense.

Absolutely.

Does it take time, effort and patience?

Absolutely!

Recovering from a past of late and missed payments, overdue notices and mounting credit card debt can be overwhelming and time consuming, but it can be done. With a great deal of patience, perseverance and hard work you, too, can begin to repair your financial past and look forward to a bright financial future.

Your Action Plan for Improving your Credit:

1. Order a copy of your credit report from all three of the national credit reporting agencies and pour over every detail included in these reports. If you notice any discrepancies or errors, immediately report them to the appropriate credit agency, as small mistakes can wreak havoc on your overall credit score.
2. Make a list and prioritize your debts, preferably according to the oldest debts or those with the highest interest rate. Use your credit report to complete your list so that you don’t forget any debts.
3. Make a budget and stick to it. While you’re at it, look for other areas in your monthly budget on which you can cut back. Do you need a cup of coffee from your local café every morning, or can you save your money by instead bringing a cup of coffee from home? Do you need premium cable service, or can you downgrade to a basic cable service?
4. Contact your creditors and ask for easier payment plans or a decrease in your interest rate. They may deny your request, but they may not! It’s never too late to ask!
5. Make the minimum payments on all of your credit card debt and put all of the extra money towards the highest interest debt. After that card has been paid off, continue onto the next card until all the debt has been paid. It is important to continue paying at least the minimum payment on all of your other debts during this time! This may be a long, arduous process, but keep your ultimate goal in sight so that you can lead a more financially sound future.