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The holiday season is not far away. It's the middle of October and you must be thinking how you can save money for the upcoming holiday season so that you can shop well. Here are 5 ways which can help you save money:

1. Go for cheap and basic cable TV package: Many of use go for the premium cable TV package which can cost us around $80 extra every month. It's better to go for the cheap and basic cable TV package for the next two months which will help you save quite some dollars which you can invest in shopping and buying goodies for your near and dear ones.

With the constant increase in cost of living and unemployment rates, it has become quite difficult for people to maintain their lifestyle. However, if we can make certain changes in our daily life, it'll help us in saving quite a large sum of money. For example if we can make some small changes in our daily life to make our home more energy efficient, it'll in turn reduce the utility bills for years to come.

Here are 5 tips that can help you in reducing your utility bills:

We are always looking for guest writers who can provide financial articles for our MortgageFit Community. So, if you can provide us some unique articles on mortgage, credit or budgeting, we would love to publish them in our blog. However, we post only those articles that fulfill our requirements.

Guest post criteria for MortgageFit Community

We would love to publish articles in our blog provided they fulfill the following criteria:

Many of us have made credit cards our way of life and we can't imagine our life without them.  However, after the recent economic crisis, a large number of people are taking a stand against it. They have started believing that credit cards don't have to be the way of life. If a person properly manages his or her finances, it is possible to live without credit cards.

Here are 3 tips on how to you can achieve this goal:

A large number of homeowners are in a dilemma to take an investment decision with their extra cash. They cannot decide whether they should pay down their mortgage or take advantage of the low rates and invest the money in stocks.

The Federal Housing Administration (FHA) has come up with a new low cost reverse mortgage product which will be known as "HECM Saver". In the HECM Saver program, the upfront mortgage insurance premium (MIP) that will be charged to the borrowers will be 0.01% compared to 2% MIP that is charged on normal HECM product.  The product will also have an annual MIP of 1.25%.

Opinion of experts on impact of HECM Saver on market…

Most people think that there's no harm to borrow from the 401k account to pay off mortgage. However, it is not a good option to tap the retirement funds to pay off home loan balance. This is because when you borrow from a 401(k) plan, you can relieve yourself from the pressure of one emergency and create another pressure for yourself.

Reasons why you shouldn't tap 401k to pay mortgage

The House of Representatives has finally passed the Financial Reform Bill that provides the high changes of financial regulation since the Great Depression. It is expected President Obama will sign it into law fairly soon. The Financial Reform Bill will have certain affects on the mortgage market. This bill will bring into affect new lending rules which will protect the consumers. Let's take a look at some of them.

Though the rescission has ended, it has been found that the situation in the real estate market has not improved much. It has been noticed that home values have dropped so low that the loan amount is more than the price of the property. Around 11.2 million homes which are underwater and 2.3 million homes are close to slipping underwater. California, Nevada, Arizona and Florida are some of the worst affected states.

There are a number of consumers who believe that they might be eligible for government bailout. However, it is not so. You may see a large number of ads mentioning about some "Obama credit card bailout program" but that's completely misleading. There are no government-backed consumer bailout programs for your personal credit card debts. You'll have to manage your credit cards responsibly and pay off the bills on time.

However, if you're in severe credit card debt, there are some ways you can get relief. Let's take a look at what they are: