Thursday, January 02, 2014
Nursing a holiday spending hangover
It happens to the best of us.
Address your holiday debt. The credit card statements have arrived, itemizing every last holiday purchase. Now what?
Find out whether Dupaco can help you consolidate your debt. Ask whether you can transfer those bills into an installment loan, such as a home equity or personal loan, or a loan secured with collateral.
“Borrowing on a personal loan is better than using a credit card, because the rates are usually going to be better, and you’ll pay it down so much faster,” Winkelman says. “You’ll have a set term, so you’ll be able to see the balance going down and the light at the end of the tunnel.”
Get a financial checkup. In the meantime, quit using those credit cards.
“If you’re still using the credit card, there’s a bigger issue,” Winkelman says. “You’re spending more than you’re making, and we need to review your budget.”
Schedule a free Dupaco Money Makeover to identify areas where you can cut costs and save money. Dupaco also offers free Credit History Lessons to help you learn how to drive up your credit score.
Get ahead for the next holiday season. Now is a great time to open a Dupaco Holiday Club savings account. Determine how much you spent this past season, and make any necessary adjustments to stay within your newly revised budget.
By Emily Kittle