Is It Smart To Save While

Paying Debt? by: www.newhorizon.org

Should you continue depositing cash to

your personal savings account or to your

contingency fund while paying off your

bad credit card debt?

That DEPENDS on how much income you

generate, on a monthly basis.

However, many finance experts today

discourage consumers from doing so.

Let’s discuss why….

The Top Reasons...

● By prioritizing your financial obligations, you can

avoid making substantial payments on interest as well

as on other related charges.

● By putting your credit card bills on top of your list,

you can gradually settle your credit card transactions

and soon you can attain debt relief.

REMINDERS!

● While paying off your credit card debt, it would be wise to

put your credit card transactions on hold.

● Stop using your credit card temporarily so that you can

avoid incurring an even bigger financial obligation.

● This can also work your advantage as it will help you avoid

incurring additional interest charges, which could eat up a

significant percentage of your personal or household

budget.

REMINDERS!

● Transfer your balance to a zero- or low-interest credit

card, especially if you wish to keep your interest payments

minimal.

● Look for card programs that carry the lowest possible

rates of interest and consolidate or merge all your existing

balance on it.

● That way, it will be much easier for you to keep up with

your monthly bills.

REMINDERS!

● If you think you don’t have enough funds to pay off your credit card debt

completely then, we encourage you to apply for a debt consolidation

loan.

● After all, this credit program can provide you with ample funds you can

use for completely settling your financial obligations.

● Such loan also carries affordable rates of interest and flexible payment

terms – features that will surely match the needs, preferences and

financial capabilities of cash-strapped consumers, like you.

RESOURCES:

● Read more about saving while paying

http://www.newhorizon.org/credit-info/debt-and-savings/

● Debt Consolidation Loan

http://www.newhorizon.org/Info/debtconsolidation.htm

● Get you credit report

http://www.newhorizon.org/Info/creditreports.htm