Pioneer Credit hopes that you had a safe and enjoyable Christmas and New Year.
A fresh year is a great opportunity to set new goals to achieve; and there’s no better goal to set than getting ahead with your finances.
Get back on track in 2017
Catching up on payments or being a little behind budget at the start of the year due to Christmas should not set the tone for the rest of 2017. Hot tip: Clear the Christmas credit card first before interest begins to build up. January is typically the month where you will see the most 0.00% balance transfer offers, consider if these offers are appropriate for you. Being able to transfer funds from your credit card to clear other accounts can be helpful however, do it with moderation as excessive transfers may cost you in the long run.
Set achievable goals
We understand that setting stretch goals are tempting as they make you feel empowered in the short term; however, studies show that you will have a higher success rate by setting specific and realistic goals. Instead of setting a goal to have all your debts cleared and $20,000 in savings in one year, focus on clearing your outstanding accounts; then after they are paid off, focus on savings, set clear milestones so that you can measure your achievements along the way. By putting together a weekly budget, you will be able to visualise how much of your income goes toward living expenses and it will also help you to identify areas where you are overspending. Spending over $60 a week on coffee and lunch? Try taking lunch from home, this small change could save you over $2500 a year!
Know your credit health
Tracking your progress is essential in achieving a goal and when getting back on track with your finances, this can be done by knowing your credit score. Pioneer Credit has launched Credit Place, a fast and free way to access your credit score online. Comparing your credit score from the start of the year and again later in 2017 will help you see how much progress you are making towards your credit health.
Pioneer Credit enjoys working with customers to help them achieve their goals whether they be big or small. Click the button below to get your free credit score or give us a call on 1300 015 133
to find out the difference we can make.
Get your free credit score