That's well over a year to pay
down your holiday debt without forking over a dime in interest payments.
If you've resolved to pay
down your holiday debt, you'll need savings.
If there's any breathing room, one way to pay
down your holiday debt is to commit some or all of that surplus to your outstanding balance.»
Today we found some awesome articles on paying
down holiday debt quickly, getting your retirement plan back on track, and honey do's to start your New Year off right.
Not exact matches
The majority of Canadians didn't overspend this past
holiday season, keeping
debt down while celebrating with family and friends, according to the RBC 2015 Post-
Holiday Spending Poll...
But it's one more way to build an emergency fund out of thin air, save for the
holidays, pay
down debt or cover extras like Little League fees or an occasional date night.
«A strong fourth quarter is always good for the American economy, but it's never good when consumers come out of the
holidays loaded
down with unmanaged
debt,» said Tran.
Here's a breakdown of when, and for whom, a balance - transfer card is a good option, and when it may be better to stick with paying
down your current card, or opting for another way to handle
holiday debt.
If you racked up
debt during the
holiday season, paying it
down in the new year can improve your score.
If your family regularly treats you to gifts on special occasions like birthdays and
holidays, this is a great opportunity to pay
down your
debt.
Yo - yo
debt dieting You scrimp, save and sacrifice to pay off that vacation you took last summer plus some
holiday shopping, until you get the balance
down to a manageable level.
Start by paying
down debt with high interest rates and then focus on saving any extra income, especially windfalls and
holiday bonuses.
The
holiday season can allow you to use your creativity to earn extra money to pay
down debt.
However, when paying
down debt, expect to have to make some sacrifices, such as giving homemade
holiday gifts instead of store - bought ones, cooking at home more often, or finding more inexpensive hobbies.
When you rack up
debt during the
holiday season, paying it
down in the new year can improve your score.
This
holiday season, prioritize paying
down your
debt over paying for Christmas gifts.
Still, many people find themselves in
debt by the time the
holiday season winds
down.
Use your tax refund, gift money from Grandma or
holiday bonus to pay
down a chunk of
debt.
While any one of these cards could make paying
down lingering
holiday debt a lot less painful, you need to know how to play the game.
«We traditionally see credit card delinquencies and balances decline during the first three months of the year as many people pay
down their
holiday shopping balances or use their tax refunds to pay off their
debts,» said TransUnion's Ezra Becker in a statement accompanying the report.