2012 New Year Financial Goals

The New Year is usually the best time to set goals, and because it is the start of another year, finances usually rank number one in the list of New Year’s resolutions. After a good deal of splurging and spending during the holidays, people don’t usually realize the aftermath of excessive spending until after the holidays are over. So, a new year comes, and you promise to start the year fresh and renewed, and that includes your finances. What could be some financial goals to consider?

Financial Goal #1: Have a Good Amount of Personal Savings

Well, this may seem cliché, but yes, this makes one of the top-ranking in the list of financial resolutions. People normally attempt to save at the start of the year but usually end up failing in this plan. You need to get really serious and committed to fulfilling this goal. It is said that ten percent of the income every month is ideal enough for a regular savings. Why not give it a try?

You can open a personal savings account where you can keep a portion of your earnings monthly. During emergency needs, you are worry-free of financial problems since your savings are literally there to save you. Moreover, it avoids the hassle of having to use your credit card, which may incur interest charges.

Financial Goal #2: Manage and Minimize Debt

People are so prone to post-holiday debt problems and if you think about it, this is definitely not a good way to start the year. Yet, you need to face your holiday debt and settle it. Start by developing a strategy to clear out your liabilities whether credit card or loan debt. Various debt settlement options are available such as debt consolidation, refinancing, and balance transfer. Go for one that is favorable to your budget of paying every month. From there, make it a goal to really refrain from incurring debt and focus instead on paying it off until you get it all settled.

Financial Goal #3: Think of Your Retirement Plans

You may think that retirement plans are only for employees who are nearing the retirement stage of their career but it is not. Even at your young age, you can already plan for your retirement. Consider this part of your long-term financial goal as you start the year. Check with your employer for retirement plan offers and enroll for one that will match your contributions. When you plan for retirement, you are only giving yourself and your loved ones a secure and stable future.

Adding financial goals in your resolutions for the New Year needs downright seriousness and commitment. Act on your goals slowly but with consistency and you will reap good results as another year ends.

Mixed Reactions To Balance Transfer Day December 11

The national media has covered the upcoming balance transfer freedom day, but without the zeal and earnest that was given to bank transfer day. The upcoming plan for card holders to transfer credit card debts to zero percent credit card offers makes prudent financial sense, but there is no reason why consumers need to wait until the 11th to begin saving with a balance transfer. The opportunity to save on zero percent interest offers is a key driving force for consumers who are shopping for a new credit card and looking to find a great deal!

The upcoming balance transfer day has not been agressively marketed by any major credit card companies. There are very few promotions tied into the concept of balance transfer day. The key marketers who are latching onto the event appear to be credit card aggregators and marketers as well as a few regional credit unions. The opportunity for credti card providers to leverage the upcoming event is probably seen as a challenge as to not alienate their existing card holders, while trying to attract the new customers who fit the credit profiles likely required to obtain the new promotional deals.

So with less than two days to roll before “credit card balance transfer day” our advice and recomendations would be simple and straightforward. Research, compare and calculate…find the best promotional card offer for your needs. Review the fine print and try to lock in a zero percent balance transfer offer for as long as possible. Best of luck, and if you forget to apply on Sunday, stop back on Monday the 12th I am sure we will be promoting some exceptional zero percent card offers then as well.