{"id":1546,"date":"2017-02-02T13:36:08","date_gmt":"2017-02-02T13:36:08","guid":{"rendered":"http:\/\/andrewwbradley.ca\/Retirement-Made-Easy\/?p=1535"},"modified":"2017-02-02T13:36:08","modified_gmt":"2017-02-02T13:36:08","slug":"1535-2","status":"publish","type":"post","link":"https:\/\/blog.andrewwbradley.ca\/index.php\/2017\/02\/02\/1535-2\/","title":{"rendered":"How to get your finances back on track"},"content":{"rendered":"

\"How<\/a>How to get your finances back on track<\/h1>\n

Have your New Year\u2019s money resolutions slipped already?\u00a0<\/strong>With January firmly behind us, many of us may be wavering on the New Year\u2019s resolutions we made with such good intent just a few weeks ago.
\nThat said, there\u2019s no point in giving up altogether.
\nNow is a good time to take stock of your finances, and to seize the opportunity to set some new financial goals.<\/p>\n

Review your debts<\/h2>\n

First off, you should go through all of your debts with a fine-tooth comb and write down exactly how much you owe on all of your credit cards, store cards, loans and overdrafts.
\nAlso find out the rate of interest you are paying on each of your debt. Once you\u2019ve done this, your priority should be on paying off those with the highest rate of interest.<\/p>\n

Play your cards right<\/h2>\n

If you\u2019re struggling to clear your debts, now could be a good time to consider a balance transfer card.
\nThe key with these cards is to pay off the balance during the 0% per cent period to avoid paying interest.
\nThis should offer you breathing space so you can clear your debt, without letting\u00a0it spiral out of control.
\nIf you have a balance accruing interest at the average rate of 17.9 per cent APR and move your balance to the market-leading card, you could save $824.73 in interest charges over 25 months.<\/p>\n

Check your credit report<\/h2>\n

If you\u2019re taking stock of your debts, now is a good time to check your credit report.
\nWith many lenders still being very selective about who they will lend to, having a good credit record is more important than ever.
\nThis could make a difference between you being accepted or rejected when applying for credit cards and other forms of credit.
\nYou can request \u00a0a credit report for free from Equifax. Armed with this information, you can then take steps to improve your score.<\/p>\n

Don\u2019t panic \u2013 get professional advice<\/h2>\n

If you\u2019re struggling with monthly commitments, then now may be the time to ask for help.
\nThe key is to talk to your creditors as soon as you can.
\nBy explaining your situation before you default, lenders are likely to take a more sympathetic approach and help you renegotiate a realistic payment plan, or stop-gap payment holiday<\/p>\n

Other goals<\/h2>\n

Overpay your mortgage<\/strong><\/h3>\n

For most of us, our biggest debt is likely to be our mortgage, so make it one of your goals to make small over payments. Even just paying a little extra each month will help you clear your mortgage more quickly.<\/p>\n

Start saving $50 a month<\/strong><\/h3>\n

One of the simplest ways to get into the savings habit is by setting up a direct debit so that $50 goes out of your current account on the day after payday.
\nFinally, once you\u2019ve set your new goals, remember to revisit your financial decisions at least once a year to make sure you\u2019re still on track.<\/p>\n","protected":false},"excerpt":{"rendered":"

How to get your finances back on track Have your New Year\u2019s money resolutions slipped already?\u00a0With January firmly behind us, many of us may be wavering on the New Year\u2019s resolutions we made with...<\/p>\n","protected":false},"author":1,"featured_media":5220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5],"tags":[57,67,111,112,176,181,261,471],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/1546"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=1546"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/1546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=1546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=1546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=1546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}