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Achieve Financial Growth in Short Period by Follow These Eight Simple Steps

Many people’s most important life goal is to achieve financial independence. This next year can be the one in which you finally better your financial status, whether you’re in an underpaying work, have too much debt or your spending habits exceed your salary.

Use a Balance Transfer to Take Charge of Your Credit Card Debt

If you want to improve your financial situation in a year, paying down debt should be one of your top priorities. To save money, you can transfer the balance from your current credit card to a new card with a reduced interest rate.

Although your principal debt will remain the same, you will be able to make principal payments using the money you save on interest.

Looking for a Credit Card With a Low Introductory Rate and No or Low Balance Transfer Fees is a Must.

The Navy Federal Credit Union Platinum Credit Card is an example of a suitable credit card. The Platinum Credit Card is meant to assist you in paying off your credit card balance in a timely manner by offering a low introductory APR for 12 months on balance transfers done during the first 60 days of opening your account.

Balance transfers made with the Platinum Credit Card will continue to be eligible for a reduced variable APR even after the promotional period ends. This card is great for making large purchases because the promotional rate applies to both new and existing purchases.

Focus on Your Vehicle Loan First

According to Joel Ohman, CEO of, one way to pay off the debt in a year is to focus on the debts you have the best possibility of paying off, such as a car loan.

Concentrate on eliminating your auto debt as soon as possible. Paying off your car loan is easier the less you have left to pay. Be away from the temptation to incur more debt until you have paid off that one.

Put that money you were going to spend on a car payment towards your credit card balance or something with a higher interest rate,” he said.

Raise Your Credit Rating

With a high credit score, you can get a better interest rate on loans, which can make it easier to buy a car or house or even find a cheaper place to live. If your grade is less than stellar, make it a goal for this year to raise it.

Learn Something

Independent Equity’s chief investment officer Garett Polanco recommends learning more about personal finance and investing as a means of improving one’s financial standing.

He replied, “There are a lot of books and articles and online courses that can assist you to learn about financial matters like budgeting and saving and investing. You’ll be better able to handle your own money if you take the time to educate yourself on personal finance.

Reduce Wasteful Costs

Consider your finances in further detail and look for places to save money. Perhaps you have a gym subscription that you rarely use or a streaming service that you no longer watch.

Meal prepping and shopping with a list can help you save money at the grocery store by reducing the likelihood that you’ll waste money on unnecessary items or buy more than you need.


Consider the big picture rather than just the little things if you really want to cut costs. Finance expert and co-founder of Dinesh Pandian advised, “Think about downsizing your apartment or house if it’s too pricey and you’re not using the extra room.

If you do this, you can reduce your monthly housing expenses without giving up the security of a permanent residence.

Where to Purchase Generic

Pandian added that one easy way to save money is to purchase consciously. If a store brand’s product is functionally equivalent to its generic counterpart, you shouldn’t shell out the extra cash for the store brand.

Create a Rainy-day Fund

The suddenness and high price of an emergency always take us by surprise. Avoid being financially unprepared for unexpected catastrophes by saving the equivalent of three to six months of living expenses in an emergency fund.

Sapna Pal
Sapna Pal
Hello viewers, my self sapna. I am working as a content writer from last 5 years. In where i uptated fresh news of new jersey and some other area and provience of united state of america. For daily news of newjersey just visit my website


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