The
Christmas Hangover
In the next
two months a series of unwanted letters will be coming to homes across
Australia. Credit Card Bills. The reality is that unless you take action early
these bills are not going anywhere making next Christmas even harder.
Here are some
simple tips that might just help lessen the impact:
- Can you transfers your balance to
other card on an interest free basis? This is not to advocate taking out
more credit and it is imperative that if you are able to transfer balances
you cancel your other card immediately.
- Don’t just make the minimum
payment. Your card balances are not going anywhere if you do.
- Don’t spend anymore on them! This
may seem common sense however many people continue to in the belief that
the money they are not spending from their wage they can use to pay other
credit cards. More often than not this does not happen leading to balances
increasing further.
- Set yourself realistic targets.
Rather than saying to yourself that you are going to try and pay all of
your card off why not try and pay a portion off? For example, perhaps say
that in 6 months you are going to pay off 40% of the balance.
If, even
before your Christmas spending you were over committed you may find that your
next set of bills are the ones that tip your finances over the edge. If this is
the case you may wish to consider seeking professional help with your finances.
Australian Debt Solutions can help you further. Simply visit our website www.ausdebtsolutions.net and if
your require assistance simply leave your details and one of our advisors will
call you back.
