If there has ever been a time to get the ball rolling on finances, now is the time to do it. Right now the economy is doing well, so why not grab your finances by the horns! There are things your can do right now says Forbes to put you further ahead for your financial future. These things are a great starting point for anyone that has no idea what they are doing.
If you are student a great thing you can do refinance your student loans. If you can save a percentage point or two that’s more money in your pocket or more money you can put down towards principle balance. Most former students don’t take the time to refinance your student loans. If you have been paying your loan on time, this should be easy for you.
An easy next step is consolidate your credit card dept to make sure you are paying the lowest amount possible in interest. Get a side job going to make some extra money to put towards your current loans. Every little bit helps. It will start to add up fast and all of a sudden you will be debt free!
The best thing you can do is increase your credit score. As you pay on-time on you loans, your credit will continue to rise. As your credit increases, life becomes easier. Even insurance on a car is cheaper. If you own a car, a great way to increase your credit is to take out auto title loans Greenville SC.
When you own a car and take out a title loan, as long as you pay the loan back promptly, your credit will report the loan satisfied. This is a great way to boost your credit a bit. Another path to boosting your credit is to dispute any discrepancies on your credit report. Get your free annual credit report here. Make sure you follow up on discrepancies with all three agencies. There are a few companies that can also help clearing up your credit, but by far the easiest and fastest thing you can do is take out a title loan.
If you receive a tax refund, use this money to pay down your debts. Tax money is considered “windfall.” If you won $100 in the lottery, it can be considered windfall. All windfall should go towards debt until you are debt free! After you are debt free, you should start an emergency fund, and cash reserve accounts. The emergency fund should have 3-6 months worth of expenses . Your cash reserve accounts are spending and saving accounts for things like trips, gifts, cars etc. If you had a few hundred or thousand in each, you won’t feel bad about taking $50 out for an oil change and it won’t break the bank because you had an account set up for it.
All these things you can start doing today to get your finances to triple A rated. You must believe that your finances are going to get better. If you do not believe it, it will not come true. Learn financial literature, read financial magazines or the newspaper. You must immerse yourself for a bit and be uncomfortable, only then you will start to get a hold of your finances.