Emergency fund savings could help you stay on track with resolutions

Personal Finance

“People end up being trapped in the credit card cycle, where they are constantly catching up,” said Capalad.

Breaking out requires a concerted effort. First step: Curtail new credit card debt.

Shift recurring purchases to a debit card or checking account, she said. Do the same with discretionary purchases that can add up fast, such as ride-sharing or takeout delivery.

Then come up with a plan for tackling your existing debt.

Focusing on your most expensive debts first can help you pay less in interest and speed repayment, said Meehan. But pay attention to timelines, too, such as an end to balance-transfer or deferred-interest offers. A looming deadline can make those debts a higher priority.

Source link

Products You May Like

Articles You May Like

SoftBank is selling its entire Flipkart stake to Walmart
Are you suffering from stock market risk amnesia?
In the post-Harvey Weinstein era, here’s how to report workplace abuse
Hedge funds hate these 10 stocks — including Nvidia
That $30 trillion great wealth transfer is a myth

Leave a Reply

Your email address will not be published. Required fields are marked *