Remember that song where someone gave gifts for 12 consecutive days starting on Christmas day? Are you heading to the path of a debt-free future?
Well, those 12 days will cost the giver a lot of cash. Mathematically, the giver gave a total of 364 gifts based on the song. Imagine how much that the giver spent on them. Meanwhile, for the financially-wise, they will most likely spend these 12 days of Christmas to save more in preparation for the new year ahead.
We’ve come up with activities for a more easy way to achieve a debt-free life in the coming years. Indeed, there are other important things to do than impulsively shopping all throughout the holiday season.
Ideas on How To Be Financially Independent This Year
Plan to Save
Sometimes, it’s just all about what we do that makes us miserable or successful on our way to financial freedom. It’s up to us if we will take that first step or that big leap to save up money on a regular basis. Moreover, this activity requires discipline on spending. It will also bring changes on how we handle our financials. Ideally, you must save up around 20 percent of your monthly income, but it all depends on your capability and other financial obligations. First, you must have a smart plan to save for the benefit of maximizing the opportunity. It’s good to seek professional advice regarding this matter.
Cut down Credit Cards Accounts
If you weigh down the positives over the negatives of having several credit cards, you’ll notice that the cons outweigh all the pros. It’s ideal to just maintain one credit card with the lowest interest rate and cut down the rest. If it’s possible, do a balance transfer to prevent the effects of compounded interest rates on your credit card debts.
Stick to a Budget
It takes a lot of guts to do this, but there’s a pot of gold at the end of the rainbow. If you stick with your budget, you’ll be able to do a lot of things without sacrificing anything. Just like saving up, it all depends on yourself on how you’ll do it. You can tell your family and friends about your brilliant plan and allow them to check you out on your spending.
Create Emergency Fund
One reason why you’re in the deep hole of debt is the lack of an emergency fund. In fact, emergency expenses lead us into having a high-interest loan or swiping our credit cards without thinking on how we will pay all the bills. On a positive note, creating an emergency plan will eliminate this unplanned indebtedness. Start with taking a portion of your savings for an emergency plan and make it grow by putting it on a low-risk investment.
Prepare your Tax Returns Early
Few people know that early preparation on income tax returns will save them a lot of money. You can allocate tax payments monthly or quarterly and list down all your deductions from time to time. It’s also recommended to consult tax experts to guide you on how you can lower down your tax bills.
Know More About Debt Settlement Programs
If you cannot think of a better plan on how you’ll redeem yourself in the enslavement of debt, why not try debt resolution like debt settlement programs? These programs offer the convenience of a one monthly payment scheme for all of your unsecured debt. It can also reduce the total amount of your payment to 40 to 60 percent (based on testimonials). Debt Settlement programs are your best allies on your journey to financial freedom.
The holiday season may not be a spending season, as we all know, its true spirit is giving our blessings, Ergo, give something to yourself and share your knowledge to others on how to be financially free.
We love to hear about your ideas on how to be debt-free, please email them to us.
You can call us right now at 1-877-97-33287 to learn more about top notch debt settlement programs.