When New Year comes around most of us are filled with good intentions, and millions of us make our New Year's resolutions with every intention of sticking to them - sadly, many of us have forgotten our resolutions within a matter of days. However, there is one resolution that could save you a small fortune, and because it will save you money you may find that you are more likely to stick to it.
Finances are amongst the top of the list of topics that feature in most peoples' New Years resolutions, and over the Christmas and New Year period many of us clock up huge debts on our credit cards, leaving us with the bleak prospect of having to repay a high interest debt as the New Year kicks in - not the best way to start the year by anyone's standards. However, by taking early action you can make sure that this doesn't happen to you.
In the run up to Christmas many people flock to take out credit cards, such as 0% purchase credit cards that can help them to budget for Christmas without facing hefty interest charges. However, with many of us leaving it till the last minute we often end up having to use our existing credit cards to purchase presents - cards that often have high interest rates attached. Now, this is fine if you plan to repay the balance in full within the interest free period. However, if you have made a lot of purchases and need to spread the repayments you could find yourself facing expensive interest charges as January comes around.
The ideal solution is to act quickly and get yourself a 0% balance transfer card or a low rate life of balance transfer card as quickly as possible. This means that you can transfer the debt from your high interest credit cards onto a balance transfer card, and then you can spread the repayments and pay either no interest at all or a very low rate of interest depending on which balance transfer card you opt for.
By taking action and getting your high interest balances transferred you can make sure that you start the New Year on a positive note where your finances are concerned, and you can enjoy spreading the cost of Christmas without having to break the bank on interest charges.
