Tidbits® - January 2007
Credit insight from Credit.com
Welcome to the Credit.com newsletter!
This free newsletter delivers easy-to-read tidbits about credit directly
from personal finance experts. In this issue, we're talking all about
resolutions. We'd love to hear from you!! Send an email to tidbits@credit.com
with your credit questions or comments anytime!
Quick Tip
Considering buying a car in 2007? Apply online for a no-obligation loan
quote before you pick out your dream wheels. Online auto loans are often
much less expensive than financing directly from the dealer.
Credit.com has auto loan options for buying from a dealership - http://www.credit.com/r/auto/
or a private seller - http://www.credit.com/r/tidbits_gatuo_personal/
Our Favorite Resolutions
It’s a brand new year! Time to set some resolutions to help make
2007 the best it can be. In the credit and financial world, it is amazing
how much you can get done in just twelve months. We have picked three
easy resolutions that anyone can fulfill! Each resolution comes with
resources to get you started and goals to keep you motivated:
1. Get Out of Debt
Credit card balances, student debts, and car loans can all add up to
some serious debt. The average American carries around $12,000 in
non-mortgage debt. That’s a pretty expensive statistic. Not
to mention that credit card balances tend to spike after the holidays.
Getting out of debt is great for your finances and can also give
your credit scores a boost.
What to do: Print out our do-it-yourself debt reduction plan http://www.credit.com/r/tidbits_debt_reduction/.
Then, go for a free online debt consultation through Credit.com to
see if a solution like consolidation or settlement could help you:
http://www.credit.com/r/dcl/
Goal: Pay an extra $200 a month toward your debts
on top of the minimums.
By Next January: You could cut your debt in half!
2. Improve Your Credit Scores
Credit scores are used to determine rates for credit, loans, insurance,
utilities, and more. You can save hundreds of dollars by boosting
your credit score. Depending on your credit data, improvement could
be as simple as opening a new account, disputing an inaccuracy, or
increasing your credit limits.
What to do: Order your credit reports & credit
scores online to see where you stand: http://www.credit.com/r/credit_report_monitoring/Read
about what you can do to improve your scores in the learning center
and test the impact of your changes using the free Credit Score Compass:
http://www.credit.com/r/tidbits_compass/. You can also ask our credit
score expert, askjohn@credit.com, for help.
Goal: Aim to move up to the next highest credit score category.
By Next January: You could be getting much better
deals based upon your scores!
3. Build Your Savings
Saving for the future is an excellent goal that everyone can accomplish.
Short-term savings can help you manage financial emergencies or afford
big purchases. Long term savings can help you pay for your child’s
education, fund your retirement, or finance dreams like a starting
your own business. Even if you are just putting away $25 a month,
saving helps you get ahead.
What to do: Print out our savings & investing worksheet to get
started.
http://www.credit.com/r/tidbits_saving_investing/.
Goal: Put $300 a month into your savings.
By Next January: You could have over $3,600 in the
bank!
Do you have a different resolution for 2007? Visit our Learning Center
to learn more or send an email to tidbits@credit.com. We want to help
make your resolution a reality!
Ask John
Our credit scoring guru, John Ulzheimer , shares his top financial resolutions
and tips for the new year. See what the experts are recommending for
the next twelve months.
Read his column and submit your own credit reporting question online.
Find out more - http://www.credit.com/r/tidbits_askjohn_16/
On the Blog
We're talking about New Year's resolutions online all month long. Take
our interactive poll, share your resolution with us by email and visit
for updated tips and information.
Read more about financial resolutions - http://www.creditbloggers.com/2007/01/what_is_your_ne.html
Quote of the Month
“Always bear in mind that your own resolution to succeed is more
important than any one thing.”
- Abraham Lincoln
Tidbits® - January 2007
About this newsletter
This information has been compiled and provided by Credit.com as a service
to the public. While our goal is to provide information that will help consumers
to manage their credit and debt, this information should not be considered
legal advice. Such advice must be specific to the various circumstances of
each person's
situation, and the general information provided on these pages should not
be used as a substitute for the advice of competent legal counsel.
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