Top 10
Financial Resolutions for the New Year
Pay off Credit Cards - Do you know how much you are paying in
interest rates on your credit cards? Are you paying more in interest than you
are on the balance? Credit Card abuse is becoming an epidemic in our country
and more and more people are getting in over their heads because of the ease
of using credit cards and only making the minimum payments.
Credit Card debt is like being in slavery. When you owe, you HAVE to go to
work to pay back the bank. You HAVE to make your monthly payments or face
collection calls and possible bankruptcy. You HAVE to follow their terms are
subject to their rates.
Start paying as much as you can towards your credit cards and get out from
under their control! We have several articles on getting out from under your
credit card debt here.
Begin Investing - One of the best ways to make more money is to use
the money that you have. By investing in real estate, the stock market, bonds,
or many other opportunities, you can put your money to work for you instead of
for the bank.
You have some excellent investing articles here.
Get on a Debt Reduction Plan - Like budgeting, it is helpful to have
a plan to get out of debt. By knowing who you owe, how much you owe, the
interest rates, terms, and length of loan, you can begin to put together a
plan to pay off your debts in the quickest time possible.
We have put together an Excel program to get you started with identifying
your debts so that you can begin planning. You can
download this tool free!
Get a Better Savings Account - How much are you earning on your
savings? Chances are, if your savings are in a traditional bank you may not be
earning even a 1% return on your deposits. However, there are now safe and
easy alternatives to traditional savings accounts. Companies like ING Direct
are currently offering 3.75% interest on your savings with no fees & no
minimums. You can easily make deposits and withdrawals online by
transferring funds to and from your existing checking accounts so that money
is accessible whenever you need it.
For more information on this profitable and revolutionary form of banking,
please see our full, informative article on this
subject.
Plan for Retirement - How many of us are really prepared for
retirement? Studies show that less than half of us will have enough to
maintain the lifestyle that we have been accustomed to. That means that more
of us will need to continue at least part-time employment into our retirement
years.
Don't wait, if you aren't already, begin planning and preparing for your
future now. We have a few articles on retirement that you can see
here.
