New Year, New Plans
It’s finally a new year! Congratulations to those who made it through 2019! This 2020, there is a new opportunity for you to make new plans and goals for your financial stability. Don’t start the year buried in debts. You can start making your own way to improve your credit records and pay off all your loans for a better journey this year. Today, I am going to share with you some effective and helpful tips so you can have lesser debts in the days and months to follow.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Stock Smarts Taiwan – February 15, 2020
Pay On Time
To start off, start paying your existing loans on time. This is so you can avoid paying for interest rates and penalties. There is a tendency that you will pay for expensive fees when you don’t pay on your due date. This is where banks and financial institutions profit. Stop making money for them when you can save yourself from paying extra fees. Begin the year with relief. Prepare your payments even before the due date so you won’t struggle to look for cash when it’s payment time. Do it or else, your year will just be another 2019 full of debts.
Stop Using Credit Cards
If you can’t hold yourself from spending using your credit cards, then it’s best for you to close all the existing cards you have. This is to protect you from endless spending. It’s also a good way to control yourself especially if you can’t minimize the usage of your card. As early as now, call your banks and close your cards. Pay whatever the remaining amount is to lessen your debts. Do not wait until you pay another interest charge again. Remember that it’s not a good habit to just pay the interest and the minimum. Allot money to pay the principal and stop using credit cards.
Save Your Money
Most people get loans because of a lack of funds. You can avoid it if you will save money this year. As early as January, start your saving habits. Set aside any amount each time you get a salary or income. If you are doing business, continue to invest in what you do and don’t withdraw your capital yet. Let the money grow in your investment. Do whatever you can to save money because, at the end of the day, your savings will save you from borrowing money from banks or other people.
