Read below and check out the 5 financial tips for the last week of October 2013.

Tip no 1: We all have strengths and weaknesses. Work on your strengths. Try to develop your positive traits into something that will help to improve your financial life.

Use your strengths to improve your financial life. For instance, if you're a hard working man, then use this positive strength of yours to make money. Work round the clock to earn bucks. Don't waste your free time. Rather do some constructive work and improve the quality of your financial life.

You'll have weaknesses too. For example, you may have a weakness for shopping. Try to get over your weakness. This means, try to avoid making frequent shopping trips in a week. If you really need to buy something, then check out the lucrative online shopping deals. This would help you save money.

Tip no 2: If a credit repair agency claims that they can help to remove accurate items from your credit report, then they're simply lying. Correct negative items will be there on your report.

A credit repair agency can't remove all the accurate tradelines from your credit report. Some credit repair agencies do advertise that they can remove all the negative tradelines from the report and help to increase credit score. This is just a marketing gimmic. The credit repair agencies smartly hide the fact that accurate negative tradelines can't be deleted from credit report before 7-10 years. Only the inaccurate items can be removed.

If you come across a credit repair agency that makes such an absurd claim, then you've 2 options:

• Search for another credit repair agency
• Try to repair your credit on your own

Choose the option that suits you the best.

Tip no 3: You're swimming in debt since you didn't follow a spending plan for several years. Start giving importance to budgeting and discipline if you wish to get out of debt.

If you've never bothered to follow a spending plan in your life, then it's no surprise that you're in debt. Anyway, if you really want to get out of debt and organize your finances, then the first thing you need to do is develop a proper budget. Get an idea about your income, expenditures and how much you need to pay your creditors. Be a financially disciplined person and avoid making unnecessary expenses. Your motto will be to save and manage money in such a way that'll help you get back on the right financial track.

Tip no 4: Be cheap and frugal this Halloween. The festive season has just begun. You'd need money to celebrate.

The festive season is the time to have a good time and fun. It's the time to shop for your loved ones. However, don't splurge so much that you've no money to celebrate the entire festive season. Be cheap and frugal this Halloween so that you can enjoy the Thanksgiving Day, Black Friday, Christmas and New Year with full zest and enthusiasm. Create a special savings fund for holiday shopping. Check out the best online offers for various products. Use coupons to get extra discounts on the products too. Make sure you use less credit cards so that there's less chance of getting into debt problems during and after the festive season.

Tip no 5: Study the habits of people who are doing well in life. They're successful because they're doing only the right things.

Study the financial habits of the wealthy people. These people are doing well in life as they are taking the right steps at the right time. If you want to be a successful person, then study the habits before imitating them blindly. If you don't like a particular habit, then avoid developing it in yourself. For instance, if you see that a person has accumulated wealth through dishonest means, then it does not mean that you've to walk on that path too. Never adhere to negative values.