If you’re like most Americans, your spending at the end of the year tends to spike. Between holiday gifts, travel, entertaining and decorating, it’s easy to blow a big hole in the budget - even if you’re normally the frugal type. Often our desire to be generous at the holidays spells financial trouble when it comes to the New Year.
Clarifi’s Stephanie Bittner stopped by Comcast Newsmakers recently to talk about tackling holiday debt. We've posted the video below - meanwhile, here are a few of her tips:
- Be sure you’re paying high-interest balances first
- Check your due dates and ALWAYS make payments on time - even if you can’t pay the full amount – to avoid added fees
- If you’re juggling multiple cards and multiple payments each month, consider the “snowball” approach to accelerate your payments and reach a zero balance ASAP
- With tax time approaching if you are expecting a refund, be sure to plan ahead and make the best use of those funds: whether that means paying down debt, starting an emergency fund, or saving for some other goal. (It’s fine to treat yourself to something special – but be sure to decide in advance how much of that refund is “fun money” and how much you need for more urgent priorities). Clarifi can help with all of this – and we can connect you to free tax preparation services in the area.
Whatever your goal, if you want to get a handle on your finances in 2018, Clarifi is here to help. Call 215-563-5665 today, or logon to MyClarifi.org to make an appointment with one of our counselors. They can help with everything from managing debt to building a basic budget, saving up for your first home or giving you a retirement savings ‘gut check.’ As a nonprofit, we can offer unbiased information and guidance, and most of our services are offered at no charge.
For more than 50 years, Clarifi has been helping all kinds of people find their way to a clearer financial future. Call today and see how we can help you.
Check out the full video below for more of Stephanie’s smart and timely advice.