you don’t know what you’re working with.
2. Find A Payment Strategy That Works
For You. Now that you have a full outlook
on your finances, decide how you want to
pay everything off. Experian recommends
paying off the cards with the highest interest
rates first, but if that doesn’t work for you,
start with the smallest balance first. This way
you’ll be able to see the progress toward
eliminating bills right away. It’s important to
make payments on time, and if possible, pay
more than the minimum payment.
The Gift of
Financial Freedom
Don’t make the same money mistakes in
2018. Check out these helpful tips from
Dominique Broadway to avoid holiday
overspending from happening again…
Create a budget. “Be realistic and
make a list of people that you want
to give gifts to and once you make
that list, you cannot change it.
People will say, ‘Oh no, she bought
me a gift. Let me get her some-
thing.’ That’s not what gift–giving is
about. It’s about me gifting you with
something without expecting
something in exchange. Make a
budget and be realistic about how
much you can spend.”
3. Stop Spending Money Carelessly. This
is easier said than done, but it’s really
necessary to put yourself on a financial diet
if you want to get your finances in order.
Avoid buying items that you don’t need,
and if you are buying essentials, find ways
to save money by using coupons and
comparison shopping. Those small changes
will make a big difference in your monthly
budget. The money you save by cutting
back can go toward paying down your debt
or past due bills.
4. Use Tax Returns and Holiday Bonuses
Wisely.
Don’t make the mistake of looking at these
two lump sums of money as free money to
spend. Some people will use this money to
fund shopping sprees or go on trips, but you
have to be intentional about changing your
spending habits. Take full advantage of the
opportunity to make a dent in your debt or
save for next year’s holiday expenses.
Avoid Using Your Credit Card For
Gift Purchases. “While making a
budget, make sure that it doesn’t
include your credit card. Make a
budget and spend only what you
can afford to pay off before the
holidays. Because what you don’t
want to do is take in this holiday
debt into the next year. Also, start
early.”
Don’t Sleep On Coupons. “Use
coupons or tools like E-Bates—they
give you a percentage back. I’ll get
a quarterly payment of $50 to $100.
So, it’s cool because it’s money that
you’re getting back from shopping
online.”
For more financial advice from
Dominique Broadway, visit her
website dominiquebroadway.com
and follow her @dominiquebroad-
way.
For more info on credit and getting
yourself out of debt,
visit Experian.com.
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