Posted by Omari | December 28th, 2012 | Awards & Perks, General Information
With 2013 around the bend ? credit card bills and special offers are about to arrive, making it the perfect time to begin thinking about resolutions for the New Year. For many, that involves better money management, gaining credit card rewards and spending credit if need be, smartly.
Financial and credit managers would say one of the best ways to take control of your financial portfolio and money management is to reduce debt. Assessing your level of debt and why you?ve incurred that debt are the first steps.
Then take measured action to reduce debt and work towards improving your overall financial picture for your 2013.
Tips to help take control of your finances in 2013
? Start with your free credit report to better understand your credit standing. You?re entitled to a free credit report from each of the three national credit reporting agencies, including Equifax, each year.
? Establish a budget so you can track where your money goes each month. This will aid in cutting out unnecessary expenditure from your routine.
? Create a goal such as a family vacation or paying back a certain percentage of your debt to make it easier to stave off spending. 
? Make a plan for paying back debt most effectively. Having a financial planner or using an online debt management tool can help you prioritize debts.
? When it?s time to make a major purchase, create a list of pros and cons to help you make a smart financial decision. Also maximize the purchase with a credit card that rewards you for big purchases during the inception period, like the Starwood Preferred Guest? Business Credit Card from American Express OPEN. Or cards that boast zero or low introductory APRs, like the Citi? Dividend Platinum Select? Visa? Card ? $100 Cash Back.
? Don?t let bills pile up; past due bills can incur late fees and will negatively affect your credit score. Several Chase cards come with the Blueprint program, which allows cardholders several payback options for budgeting.
? If possible, make more than the minimum payment each month on credit card balances, which may help raise your credit score. Because some credit card companies take several days to process and post your payment, paying 5-7 days before the due date is wise. 
Big Changes Start With Small Steps
?It may seem daunting at first, but by taking even small steps in 2013, you can reduce debt and take more control of your own finances,? said Trey Loughran, president of the Personal Solutions unit at Equifax. ?This is a new year?s resolution worth keeping all year long.?
However, if you?re serious about decreasing debt in 2013, one of the first things to do is decease debt load and spend wisely. Dorothy Barrick, a GreenPath Debt Solutions counselor says, ?The money that you have been spending on interest is money that could be going towards building savings and financial security.?
Also look for ways to reduce your overall interest costs. This can include balance transfers, consolidation loans, and/or a Debt Management Plan through a non-profit credit counseling organization.
With 2012 coming to a close and 2013 on the horizon, make it a lucky year for you and your financial portfolio. To find a credit card to fit your financial profile, visit CardOffers.com.
Tags: Budget, Credit Card, debit card, debt management, financial portfolio, money management, New Year, rewards
Filed under: Awards & Perks, General Information |
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Source: http://blog.cardoffers.com/new-year-tips-to-maintain-financial-control/
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