See how much A New Horizon Debt Consolidation Program Can Save You

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*Individual results may vary depending on balances and rates

10 Steps to Good Money Management

1 – Pay bills on time to avoid late fees. Organize your bills and keep track of all due dates. Avoid the penalty punch of paying your bills late.

2 – Pay more than the minimum on your credit cards. Don’t listen to the person who told you that paying the minimum on your credit cards is a smart thing to do. Paying the minimum is probably the worst thing you can do besides paying late. Do yourself a favor and pay as much as you can. Paying the minimum will just about cover the finance charges and not put much of a dent towards your principal balance.

3 – Read your bank statements thoroughly. Yes banks do make mistakes! Read over all your statements to ensure that you aren’t being charged any unusual fees. Also, check to see that you were credited for the full amount of your payment on your credit card statements. Check your balances, payments, transactions etc. Yes, it may take a little time but it could save you some money!

4 – Build an emergency fund with at least 3 months of living expenses. You should really try and save about 10 percent of your paycheck every week. Yeah you would probably rather spend the money on a new DVD player but you have to plan for the future. What would happen if you lost your job? Wouldn’t it be comforting to know that you had enough money to get by while you searched for a new job? What if the car needed a new engine? The money would have to come from somewhere and it shouldn’t be from a credit card! Always have extra cash saved for an emergency!

5 – Shop around for the best insurance rates and coverage.
Don’t take the first rate you get for insurance. Insurance companies compete with one another so shop around to find yourself the best rate. It could end up saving you hundreds of dollars a year!

6 – Look around for and switch to credit cards with lower rates.
Before you jump right into that new credit card, be sure and check out the rates that you will be charged. Credit card companies make a lot of money off of your money! Be wise and shop around for the card that is right for you with the lowest rate.

7 – Follow a monthly budget.
Develop your own spending plan. Make a list of all your expenses and any source of income you may have. Determine what you need to spend your money on and set limits. Stick to it!

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8 – Check your credit report annually for accuracy.
Checking your credit report from all three credit bureaus is for your own good. It is important to know and understand what is on them. Keep in mind that it is not untypical for errors to appear on credit reports. For all you know, you could be denied for a loan from a creditor because somebody else’s negative information is on your credit report. Credit reports should be taken seriously, if you find an error on yours, make sure that you dispute it.

9 – Contribute to a retirement account.
Find out information about 401(k) s and IRAs. Contributing a comfortable amount of money every week into one of these plans can be a tremendous benefit to you. This is a safe way to invest your money and less of a risk than stocks.

10 – Comparison shop for the best deal on your mortgage or refinancing.
Don’t take the first offer you get. Shop around to find the best rate! One bank may charge 15 percent whereas another may charge only 12 percent. This will save you lots of money!