Cutting down your debts

The holiday season is usually a time people let their credit cards run free. Instead of racking up debt between now and December with free range credit cards, try reducing your debts instead. Gerri Willis from CNN offered five tips for reducing your debts this morning. Along with finding better deals on credit cards, heating oil, insurance and cell phones, try cutting back your monthly cable bill.

In order to get all the premium channels, digital signal and digital video recorders, too many people end up spending about $100 a month for cable. But for only $10 or $20 bucks a month you can still get more than 50 channels in most markets. That's a savings of over $80 that can go toward your credit card debt each month. Or even better, invest in a $20 set of rabbit ears and reduce your monthly cost to $0. Plus, wouldn't you rather spend more time with your family and less time in front of the TV this holiday season? Sounds like a win-win to me!