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TOPEKA, Kan. (WIBW) – With the new year comes new economic opportunities, and the Better Business Bureau has given some tips that may help in some financial New Year resolutions.
The Better Business Bureau navigated its New Year’s financial resolutions on Tuesday, Jan. 3, as holiday spending loomed on many credit card bills and the extra gifts exchanged with family and friends lightened the bank balance a bit. He said he gave some tips on how to gate. .
If 2023 is the year to reduce debt and increase savings accounts, the BBB noted that revisiting past financial targets is not a bad idea.
Post-pandemic, the bureau said households continue to be impacted, with many reassessing their retirement timelines and how and where they live and how it impacts their personal goals for the future. We have shown that it is necessary to consider whether
The BBB said several federal financial programs have ended and job opportunities vary by sector. As consumers enter the new year, they may need a stable financial base to meet their day-to-day needs.
When thinking about your current finances and sticking to your New Year’s resolutions, the BBB said residents should consider the following tips.
- Check your credit card inventory. Credit cards are known to have high interest rates and this can waste a lot of money over time. Contact companies to use balance transfer offers to switch to cards with lower interest rates Check if or ask if the interest rate can be lowered. Research the institution where the card is held and read the terms carefully. Failure to pay can result in significant penalties. If you have more than one card, decide which strategy works best for paying off your debt. Some experts recommend high interest rates first, others low balances first. Additionally, try to send payments throughout the month. Throughout the day, instead of other petty expenses, he puts $5 toward his debt.
- Don’t waste your money on unethical businesses and scams. Check their records when shopping or choosing a business. Make thoughtful decisions to save time, money and headaches.
- Take advantage of free tools. There are various online tools that can help you manage and reduce your debt.
- Start budgeting. Create a written budget, track your spending to save money, and stop spending more than you earn. Before you know your budget, you need to know your exact situation. Be aware of fixed costs, the difference between needs and wants. If you have debt, include a repayment goal in your budget. Consider retirement and emergency savings if possible. Consider possible alternative income, such as selling unused items or working part-time in a gig community.
Click here to find out more about business backgrounds with the Better Business Bureau.
Copyright 2023 WIBW. all rights reserved.
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