5 ways you'd stop the fiscal cliff

Congress and President Obama have until December 31 to come to avert the fiscal cliff iReporters say Congress can learn a thing or two about budgeting the country's finances One possible projected consequence of the fiscal cliff is rising taxes for many Americans Some iReporters urge Congress to work with only the money it has, stop borrowing money (CNN) -- The clock is ticking as the December 31 deadline approaches for Congress and President Obama to come to some sort of agreement over the infamous fiscal cliff. But what happens when the country finally reaches the fiscal edge? Tax increases for everyone? Deep spending cuts? Another recession? As President Obama puts pressure on House Republicans to come to a compromise over the fiscal cliff, it seems like everyone wants to know: What is the best solution? Adults often have to make compromises to make ends meet financially. CNN iReport invited people to share their stories of financial compromise, and what advice they would give to Congress on the fiscal cliff based on the lessons they've learned. 1. Use cash, not credit A couple years back, Val Stayskal found herself in a financial conundrum. As a single mother, she said immediate needs such as bills, food and gas would pile up, so she started putting a lot of her expenses on credit. "And when I could not pay off my credit cards, I would go to the bank and get a loan to pay them off," she said. "It was a terrible cycle." She was finally able to break the cycle with help from a financially savvy friend who helped limit her credit usage. "She only worked with cash and she helped me create a budget," she said. Credit cards "are so dangerous. We are paying so much interest. You think you have all this money, but it is not your own." Since that time, Stayskal has gotten married and she and her husband own three small businesses in Chicago. They made a pledge to not use credit cards after they nearly lost their home to foreclosure during the recession four years ago. "We only use cash," she said. Stayskal, 58, believes the president and Congress could learn something from her journey to free herself of credit card debt. "I definitely feel like our nation's reliance on credit has put us in this fiscal cliff crisis," she said. She advised Congress to "hold fast and push for spending cuts as well as balancing the budget in combination with increasing revenue in whatever way makes sense," she advised. Learning to prioritize spending is something she says was a tough, but an invaluable lesson. "My life has improved tremendously and I attribute much of it to getting my finances straightened out," she said. "We've had our own financial hiccups with the recession, and each time we apply the same principles and we are back on our feet, even when things were out of our control. It works." 2. Take responsibility for your actions The optimist within 34-year-old Swathi Ravichandran believes Congress and the president will come to an agreement over the fiscal cliff. The associate professor at Ohio's Kent State University said past incidents such as Standard & Poor's 2011 downgrading of the U.S. credit rating should serve as a reminder that there are consequences to not reaching a financial resolution. "I have to take responsibility for my actions," she said when reflecting on her finances, and she said Congress should do the same. Owning up to financial responsibility is a life lesson she tried to keep in mind when purchasing a home with her husband last year. "We decided not to let our future incomes dictate the amount of mortgage," she said. "We took the opposite approach and thought, 'Will we be able to afford payments if one of us loses our job?' " Ravichandran said the bottom line for avoiding the fiscal cliff is for the government to cut spending. "If I spend too much, I have to curtail the rest of the month to reach my savings goal," she said. She said she always looks at discretionary expenses first when limiting personal spending. "I'd cut back on the frequency of eating out, and purchasing clothing and accessories," she said. She thinks Congress should do the same. "It is time to curb spending and increase revenues. Not one or the other." 3. Stop wasting Like many people, Savita Naraine said when finances get tight, frivolous spending goes out the window. "This means packing a lunch and snacks and making coffee at home instead of splurging on Starbucks coffee," he said. The San Bernardino, California, resident and recent college graduate knows what it is like to work with a strict budget, especially since he is still looking for full-time employment. Cutting back on wasteful spending is a lesson he said Congress needs to learn. He said he was frustrated when he read a financial report back in 2011 about the Justice Department spending $16 a piece on muffins and other exuberant amounts of money on lavish business lunches. "In this economy, it is somewhat shocking to me that people are willing to spend that amount of money when it clearly isn't necessary," the 29-year-old said. Naraine does not believe Congress and the president will come to an agreement on the fiscal cliff before the December 31 deadline. "In recent years, when facing budget deadlines, the only agreement made is to extend the deadline," he said. He blames this on the stubbornness of politicians and their unwillingness to compromise, which worries him if taxes were to rise as a result of the fiscal cliff crisis. "I imagine I would need to look for two jobs instead of one so that I could pay off debt incurred during college, pay my bills, and survive," he said. His advice for Congress is simple: Stop wasteful spending. For starters, he suggests that Congress could try hosting a potluck working lunch next time. 4. You can't please everyone Brian Chandler's family is growing. He and his wife are expecting a second child, and their Georgia home is getting a little cramped. He'd like to buy a new house, but if taxes were to rise because of the fiscal cliff, he said he would reconsider purchasing a new home. "It's more of a want versus a need," he said. Chandler was raised in a household where his parents made a combined $45,000 in the 1990s. He said growing up he didn't get everything he wanted, "but we got everything we needed." Chandler worked his way through college and got an entry-level position in data security. Now at the age of 34, he has a high-level managerial position. Despite his salary increase, he said the growth of his income does not change his spending habits. Decades later, he still maintains the want-versus-need mentality he learned growing up. "I never go over my monthly income," he said. "I don't drive a Porsche, even though I could afford one." The Georgia resident believes Congress should apply the same philosophy when it comes to the fiscal cliff. "Too often I feel our government tries to appease everyone, which clearly can't happen," he said. He said the best advice he could give Congress is to not delay the process any longer. "Make the tough decision" and "understand that you won't be popular with all groups of Americans when you make a decision," he said. 5. Learn to live with less A few years ago, Bobbie Bosworth and her husband retired from teaching. Now at the age of 61, Bosworth is working again in order to pay for rising health care costs. She hopes that President Obama's Affordable Care Act will not only lower the cost of medical care, but also increase jobs in America, as she and others across the country will finally be able to retire for good. Despite the rising cost of living, and going back to work after retirement, she is hopeful about the economy. She also believes Congress and the president will come to some agreement over the fiscal cliff before the deadline at the end of this month. She thinks the fiscal cliff agreement should include raising taxes for the wealthy. "I would rather (Congress) go over the cliff than not raise taxes on the rich," she said. Over the years, Bosworth has learned to live on a tight budget. If taxes rise as a result of the fiscal cliff, she said she and her husband will have to cut back on things like traveling and eating out, which they've done in the past. She said one of the best financial lessons she learned is to spend no more than what you have. "Learn to live with less," she advised. "We don't need a lot to be happy."

Q&A: Who can inherit the British throne

Newly-weds Catherine, Duchess of Cambridge, and her husband Prince William on a royal tour of Canada in July. The marriage of William and Catherine brought the succession back into focus Sons and daughters of British monarchs will now have an equal right to the throne Roman Catholics are still barred from holding the crown Both the UK laws and those of 15 other Commonwealth states will have to be amended London (CNN) -- Prince William's glittering wedding to Catherine Middleton captivated a global audience earlier this year. But up until now, any daughter born to the Duke and Duchess Cambridge would not have enjoyed an equal right to inherit the British throne. Rules dating back centuries decree that the crown passes to the eldest son and is only bestowed on a daughter when there are no sons. All this changed at a meeting of the leaders of 16 Commonwealth countries in Perth, Australia, where they unanimously agreed to amend the succession rules. CNN examines the background to a controversial and long-running debate. Why has this change come about now? The issue has been discussed in the UK for many years -- and changes have been proposed before -- but it requires an act of parliament and the agreement of the 15 other realms where British royalty is the head of state to alter the rules of succession. Princesses to get fair share of throne Successive UK governments have failed to find parliamentary time to debate proposals to change the law. A spokesman at UK Prime Minister David Cameron's office said it had often been thought of as "too thorny and complicated to deal with quickly." The marriage of William and Catherine in April has brought the issue back into focus. David Cameron referred directly to the couple in his speech to Commonwealth leaders Friday, saying the succession rules were "outdated." "The idea that a younger son should become monarch instead of an elder daughter simply because he's a man... this way of thinking is at odds with the modern countries that we've all become," he said. So what has been agreed? The leaders of the 16 Commonwealth countries that have Queen Elizabeth II as head of state unanimously agreed that sons and daughters of British monarchs will have an equal right to the throne. They also agreed that a future British monarch can marry a Roman Catholic -- something that is currently banned. What was the historical basis for the old rules? The tradition of favoring the male heir -- called male primogeniture -- goes back many centuries and can be seen in the extensive family tree of the British monarchy. But a key law which governs the way British monarchs are chosen is the 1701 Act of Settlement which has its roots in the religious strife of the age. The official British Monarchy website explains that the act was designed to secure the protestant succession to the throne. Royal commentator and former editor of the International Who's Who, Richard Fitzwilliams, explained that this has been a divisive issue ever since the English Tudor King Henry VIII split with the Catholic Church in Rome in the 16th Century, leading to decades of religious persecution. The Act of Settlement decreed that no Roman Catholic or anyone married to a Catholic could hold the English crown. This is now to be amended so that an heir to the throne can still be monarch even if they marry a Catholic. The British Monarchy website gives two examples of the current royal family who were removed from the line of succession because they married Roman Catholics -- George Windsor, Earl of St Andrews, and Prince Michael of Kent. How are William and Catherine affected? The changes mean that if the couple start a family and the first born is a girl, she will eventually become queen. Previously, a younger son would have taken precedence. However, this could be many years in the future. Prince Charles is first in line to the throne when Queen Elizabeth II dies, and his son William would ascend after his reign. David Cameron's speech makes it clear that the new rules are not retroactive , so Prince Charles's eldest sibling, Anne, will not be in line to the throne in front of her younger brothers Andrew and Edward. It also means that any heir born to the Duke and Duchess of Cambridge can marry a Catholic and retain the crown. What isn't changing? The British sovereign is also head of the Church of England -- part of the Anglican church - and retains the title Defender of the Faith. David Cameron said at Friday's Commonwealth meeting that "the monarch must be in communion with the Church of England because he or she is the head of that church." This would currently bar a Catholic holding the crown. Prince Charles caused controversy in 1994 when he said in a TV interview that he would rather be seen as "defender of faiths" to include Catholic subjects of the sovereign which he described as "equally as important as the Anglican ones or the protestant ones." He went on to list other faiths as also being equally important. What happens next? David Cameron explained in his speech to Commonwealth leaders that "for historic reasons" the UK legislation needs to be published first but the necessary measures would be implemented at the same time across the Commonwealth. A spokesman for his office said the changes will be presented to UK MPs in the next session of parliament but added that they enjoy cross-party support. However, the process is a complex one. The Downing Street spokesman said that in addition to the Act of Settlement, many other archaic laws will have to be amended -- these include the Bill of Rights 1689, the Coronation Oath Act 1688, the Acts of Union and the Royal Marriage Act 1772. Each of the 15 other Commonwealth members will then have to amend their own legislation. So which countries are affected? The Commonwealth consists of 54 independent states, most of which have ties to the United Kingdom, but Queen Elizabeth II is head of state to only 16 of them including the UK. Those nations are Antigua and Barbuda, Australia, Bahamas, Barbados, Belize, Canada, Grenada, Jamaica, New Zealand, Papua New Guinea, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Solomon Islands, and Tuvalu.

Prince William and Kate expecting royal child

Britain's Prince William, Duke of Cambridge and Britain's Catherine, Duchess of Cambridge on November 28, 2012. Catherine is in a central London hospital with acute morning sickness The birth would bring the first grandchild for Prince Charles and the late Diana London (CNN) -- Britain's Prince William and Catherine Middleton are expecting their first child after 19 months of marriage, the palace announced Monday. In photos: Duchess of Cambridge at 30 Kate, Duchess of Cambridge: Part 1 The royal revelation came as Catherine, Duchess of Cambridge, was admitted to a central London hospital with acute morning sickness. She is expected to be there for several days, the palace announcement said. William and Catherine were married on April 29, 2011, in London's biggest royal wedding in three decades. The baby would be the first grandchild for the heir to the British throne, Prince Charles, and the late Diana, Princess of Wales.

53 overcome by carbon monoxide at Atlanta school

At an elementary school in Atlanta, fire crews found dangerous levels of carbon monoxide thought to have originated from the school's boiler. NBC's  Gabe Gutierrez reports.  By Becky Bratu, NBC News Updated at 10:17 p.m. ET: Forty-three students and six staffers at an Atlanta elementary school were rushed to the hospital early Monday after exposure to carbon monoxide fumes, fire officials told NBC News. The students and staffers from Finch Elementary in southwest Atlanta exhibited mild and moderate symptoms related to carbon monoxide poisoning. Four more adults arrived at Grady Hospital by school bus, hospital spokeswoman Denise Simpson said. The school was evacuated as a precaution, NBC affiliate WXIA reported. The incident was first reported at about 8:35 a.m. ET, according to WXIA. No one was found unconscious at the scene, but the carbon monoxide reading was 1,700 parts per million, which an Atlanta Fire Rescue Department official said was high. "Once we got inside, we started finding carbon monoxide readings way, way higher than we've ever experienced before, especially around the heating units and hallways, and the entire building turned out to be saturated," Atlanta fire Battalion Chief Todd Edwards told The Atlanta Journal-Constitution. Edwards also told the Journal-Constitution the school apparently doesn't have carbon monoxide detectors. However, state law does not require schools to have CO detectors, a spokesman for Georgia's Insurance and Safety Fire Commissioner told the newspaper. Carbon monoxide is an odorless, colorless gas that can cause sudden illness and death, according to the Centers for Disease Control and Prevention. The most common symptoms of carbon monoxide poisoning are headache, dizziness, weakness, nausea, vomiting, chest pain and confusion. Erik S. Lesser / EPA Students are evacuated from Finch Elementary School by members of the Atlanta Fire Department in Atlanta, Dec. 3, 2012. Almost 50 people were reportedly taken to the hospital for treatment following a carbon monoxide leak. More content from NBCNews.com: Florida guide uses hunting as rustic therapy for combat veterans Police: Kansas City Chiefs linebacker kills girlfriend, then himself Cuba pushes swap: its spies jailed in US for American contractor held in Havana Passengers killed when tour bus hits Miami airport overpass Women warriors pass elite Army training course Teacher lured boys online to get nude pics, cops say 66 species of coral proposed for protection by US Follow US news from NBCNews.com on Twitter and Facebook

49 overcome by carbon monoxide at Atlanta school

Teachers and students were hospitalized after being overcome by carbon monoxide in Georgia. NBC's Chris Clackum reports. By Becky Bratu, NBC News Updated at 6:44 p.m. ET: Forty-three students and at least six staffers at an Atlanta elementary school were rushed to the hospital early Monday after exposure to carbon monoxide fumes, fire officials told NBC News. The students and staffers from Finch Elementary in southwest Atlanta exhibited mild and moderate symptoms related to carbon monoxide poisoning. The school was evacuated as a precaution, NBC affiliate WXIA reported. The incident was first reported at about 8:35 a.m. ET, according to WXIA. No one was found unconscious at the scene, but the carbon monoxide reading was 1,700 parts per million, which an Atlanta Fire Rescue Department official said was high. "Once we got inside, we started finding carbon monoxide readings way, way higher than we've ever experienced before, especially around the heating units and hallways, and the entire building turned out to be saturated," Atlanta fire Battalion Chief Todd Edwards told The Atlanta Journal-Constitution. Edwards also told the Journal-Constitution the school apparently doesn't have carbon monoxide detectors. However, state law does not require schools to have CO detectors, a spokesman for Georgia's Insurance and Safety Fire Commissioner told the newspaper. Carbon monoxide is an odorless, colorless gas that can cause sudden illness and death, according to the Centers for Disease Control and Prevention. The most common symptoms of carbon monoxide poisoning are headache, dizziness, weakness, nausea, vomiting, chest pain and confusion. Erik S. Lesser / EPA Students are evacuated from Finch Elementary School by members of the Atlanta Fire Department in Atlanta, Dec. 3, 2012. Almost 50 people were reportedly taken to the hospital for treatment following a carbon monoxide leak. More content from NBCNews.com: Florida guide uses hunting as rustic therapy for combat veterans Police: Kansas City Chiefs linebacker kills girlfriend, then himself Cuba pushes swap: its spies jailed in US for American contractor held in Havana Passengers killed when tour bus hits Miami airport overpass Women warriors pass elite Army training course Teacher lured boys online to get nude pics, cops say 66 species of coral proposed for protection by US Follow US news from NBCNews.com on Twitter and Facebook

48 overcome by carbon monoxide at Atlanta school

A Georgia elementary school has been evacuated after an incident of carbon monoxide poisoning. MSNBC's Thomas Roberts reports. By Becky Bratu, NBC News Forty-three students and five staffers at an Atlanta elementary school were rushed to the hospital early Monday after exposure to carbon monoxide fumes, fire officials told NBC News. The students and staffers from Finch Elementary in southwest Atlanta exhibited mild and moderate symptoms related to carbon monoxide poisoning. The entire school was evacuated as a precaution, NBC affiliate WXIA reported. The incident was first reported at 9 a.m. ET. No one was found unconscious at the scene, but the carbon monoxide reading was 1700, which Atlanta Fire said was high. Carbon monoxide is an odorless, colorless gas that can cause sudden illness and death, according to The Centers for Disease Control and Prevention. The most common symptoms of carbon monoxide poisoning are headache, dizziness, weakness, nausea, vomiting, chest pain, and confusion.  Please check back for more on this developing story. More content from NBCNews.com: Florida guide uses hunting as rustic therapy for combat veterans Police: Kansas City Chiefs linebacker kills girlfriend, then himself Cuba pushes swap: its spies jailed in US for American contractor held in Havana Passengers killed when tour bus hits Miami airport overpass Women warriors pass elite Army training course Teacher lured boys online to get nude pics, cops say 66 species of coral proposed for protection by US Follow US news from NBCNews.com on Twitter and Facebook

31 overcome by carbon monoxide at Atlanta school

By Becky Bratu, NBC News Twenty-nine students and two staffers at an Atlanta elementary school were rushed to the hospital early Monday after exposure to carbon monoxide fumes, fire officials told NBC News. The students, who exhibited mild and moderate symptoms related to carbon monoxide poisoning, were from two different classrooms at Finch Elementary in southwest Atlanta. The staffers included one teacher and one cafeteria worker. The entire school was evacuated as a precaution, NBC affiliate WXIA reported. The incident was first reported at 9 a.m. ET. No one was found unconscious at the scene, but the carbon monoxide reading was 1700, which Atlanta Fire said was high. Carbon monoxide is an odorless, colorless gas that can cause sudden illness and death, according to The Centers for Disease Control and Prevention. The most common symptoms of carbon monoxide poisoning are headache, dizziness, weakness, nausea, vomiting, chest pain, and confusion.  Please check back for more on this developing story. More content from NBCNews.com: Florida guide uses hunting as rustic therapy for combat veterans Police: Kansas City Chiefs linebacker kills girlfriend, then himself Cuba pushes swap: its spies jailed in US for American contractor held in Havana Passengers killed when tour bus hits Miami airport overpass Women warriors pass elite Army training course Teacher lured boys online to get nude pics, cops say 66 species of coral proposed for protection by US Follow US news from NBCNews.com on Twitter and Facebook