Unity credit union debt consolidation free#

To combat this, ensure you make payments on time. You could also be facing increased interest rates or other penalties, depending on the kind of debt you're carrying. Making a payment days or even weeks late, with late notices piled up on your counter, for example, is nowhere near as effective as making your payments when they're due.įor one, any late payments can incur fees, while also being recorded in your credit history where they'll go on to harm your credit score. There's a big difference between simply paying off your debts, and doing so effectively. If you’re serious about consolidating your debts, it's high time you made the switch to cash and cut up your credit cards for good. As we've discussed, life often has a way of getting in the way at the worst possible time, which could leave you paying high levels of interest on a purchase that seemed harmless at the time. The trouble here is that it's not always certain that you'll make the required payments before the interest-free period comes to an end. You know, the ones that could cut a pineapple in half with a flick of the wrist!Īnyways, today debit cards fill this role, and yet you probably still carry a credit card in your back pocket to pay for those things you really want now, but can't pay for until later. Once upon a time, credit cards were required if you wanted to shop online, or just really needed that new set of steak knives you saw on the shopping channel. You'll find that you're increasingly less reliant on your cards, which brings us nicely to our next point.

When you go shopping, for example, take out only as much as you need and not a cent more. Now is the time to start leaving your card at home, and instead make the switch back to cash. We're pretty sure you don't need us to point out that this is one sure-fire way to undo all of your good financial work.

Whether it's a debit card, credit card, or app on your phone, it's easier now than ever to give in to your impulses and spend money you don't have. You’ll save less cold hard cash in the short term, but over time you'll save many hundreds more in unpaid interest. Rather than set money aside, consider putting the money you would have thrown into a savings account towards your debts instead. So while saving money is a good idea, in this scenario it'll cost you more than it saves. On the other hand, you could easily be paying ten, fifteen, or even twenty percent on your debts each and every month.

The reality is, even the best account for saving money pays just a few percent in interest, while the return on a fixed deposit is just a few points higher. Note that we say ‘ almost’, because there’s also little use in saving money when you have debts knocking at your door! Let’s face it, life has a way of surprising you when you least expect it, and not always in a good way! Unexpected medical bills? Car repairs? Emergency flights? For these reasons, it’s almost always a good idea to have an emergency savings fund ready for a rainy, or in this case stormy, day. With a few simple strategies, tips, and techniques like the ones we’re sharing today, you’ll make your mind a little lighter, and your wallet a little heavier.

Unity credit union debt consolidation free#

Think of it as a super effective way to get your finances back on track, and start down the road to living your life free from financial stresses. Do you feel like debt is getting you down during the day? Stress keeping you up at night? Chances are, you’re not alone: more and more Kiwis just like you are finding themselves saddled with debt they just can’t budge.īy consolidating the money you owe, you'll ensure you're not stuck with a financially unfulfilling future. With the way this process works, consolidating debt isn’t just about taking out a loan, it’s also a way of thinking about - and approaching - the debts that you carry.