The New Year has arrived! As we march onward into 2019, there are countless opportunities to improve one’s health, outlook, and mental well-being.
So why not approach your finances this way? At PCS Debt Relief, we encourage you to make it part of your New Year’s resolution to make wiser financial decisions over the next 12 months and beyond.
Raise the bar – on your credit limit.
It may seem counterintuitive to improve your financial situation by asking your credit card company to raise your credit limit. But credit card limits impact what’s called your “credit utilization” which in turn, affects your overall credit score. Credit utilization refers to the amount you owe on your credit card compared to your credit limit. For instance, if your credit card limit is $2,000 and you spend $1,000 for the month, your credit utilization is 50%. Essentially, you would be raising the limit of the debts you owe, rather than simply paying off debts.
Invest into your future.
If you already have a 401(k) fund, challenge yourself to increase your contribution to it by 1% more this year. The more you put into your retirement account now, the sooner you can enjoy the advantages of compound interest. Yes, you’ll be spending money but it will be going toward a more comfortable financial future for you and your family. It’s like a gift to your future self!
Freeze! (Your credit report, that is.)
In an increasingly digital world, everyone has to be more vigilant about protecting their identities and assets. That’s why freezing your credit report is a smart financial move. Doing so will help prevent online thieves from opening a fraudulent account, pretending to be you. Note: If you’re planning on taking out a loan or opening any new lines of credit, this option won’t work for you.
Protect yourself from your phone.
On a similar note, you should safeguard your phone so that fraudsters can’t steal your data and open a cell phone account in your name. If you having banking and credit card information on your phone, there’s a good chance that data can be stolen. Consider getting a PIN for your cell phone, which will make it that much harder for criminals to hack into your personal information.
Give the gift that gives back.
You don’t have to wait for the holidays to be charitable. If there’s any charities whose work you admire, think about donating to these organizations. The benefit to you – besides the warm, fuzzy feelings you get from being generous – is that your charitable contribution can serve as a tax deduction. Keep you receipt; you’ll need it in order to make a tax deduction claim.
At PCS, our programs are tailored to the client’s specific financial needs. What sets us apart from our competitors is that clients see relief, before any payment is received. Our NO UP-FRONT FEE policy ensures our client’s a 100% satisfaction guarantee. We also do not charge any monthly fees or any cancellation fees. We want the client to feel comfortable during the whole process that’s why we allow them to be part of it every step of the way.