A new year means new hope of making your budget goals stick and a chance to turn around debt that may have snuck up on you over the past 12 months. Most well-meaning consumers need more than just good will, however. These proven methods of tackling credit cards and personal loans can get your net worth headed in the right direction.
Be Accountable: It's amazing what people will buy when no one is looking. Having a financial accountability partner can be one of the most effective ways to rein in spending and be sensible about non-essential purchases. This person can be your spouse, a co-worker, a friend or even a professional financial expert, but the concept of sitting down once a week with them to review purchases that fall outside of budgetary guidelines is a good one. It only takes one or two times of having to explain that extra nine holes or a splurge on shoes to your accountability partner before the guilt (and a change in your decision-making habits) sets in.
A new year means new hope of making your budget goals stick and a chance to turn around debt that may have snuck up on you over the past 12 months. Most well-meaning consumers need more than just good will, however. These proven methods of tackling credit cards and personal loans can get your net worth headed in the right direction.
Be Accountable: It's amazing what people will buy when no one is looking. Having a financial accountability partner can be one of the most effective ways to rein in spending and be sensible about non-essential purchases. This person can be your spouse, a co-worker, a friend or even a professional financial expert, but the concept of sitting down once a week with them to review purchases that fall outside of budgetary guidelines is a good one. It only takes one or two times of having to explain that extra nine holes or a splurge on shoes to your accountability partner before the guilt (and a change in your decision-making habits) sets in.