New Years Resolutions and Debt
New years resolutions often involve improving health, weight loss, or getting rid of a bad habit. There is one other resolution that people should consider this year. Don't forget about improving your financial health and your bad credit habits in the new year. Consider adding one or more of these credit or debt resolutions to your list of resolutions in 2018:
Improve cash flow
If you’re able to get a part-time job, do it! Bring in as much income as you can and put it towards debt. You can also try selling unwanted items, eating out less and calling all service providers and negotiate a better rate (cell phone, cable, internet, insurance, etc.)
Clean up your credit report
Don't take for granted that the information contained in your credit report will be accurate. Unfortunately mistakes happen, but it's up to you to correct those mistakes. A clean credit report is important especially if you plan to apply for a mortgage, car loan, or credit card.
Make better credit decisions
Have you been using credit in a way that encourages debt, like swiping when you know you can't afford it? To change bad spending habits, first you have to recognize you have them. Then, you must consciously decide to keep your spending in check - even if that means leaving your credit card at home. After making good credit decisions for a few weeks, you'll find that good spending habits start to come naturally.
Budget, Budget, Budget
Working towards debt is one thing, but staying out of debt is another. Get into the habit of budgeting. Also, commit to putting away a small amount of money into savings. Having that extra amount of money set aside will come in handy in case of emergency.