Its time of the year where we make resolutions to do things which are right, there will be a lot of firsts for the year for every one of us. Some of might want to lose that extra calories and some of us wants to have sound financial health before the start of the next year.

Veda, a credit reporting agency had done an extensive research that credit card applications spike in the months of November to December, there can be a lot of reasons behind that, pressure on families to maintain the lifestyle they always have, buying presents for friends and family, for some to pay rent and other expenses in the Christmas break period especially casual labour in manufacturing or mining industry.

The impact of the these credit card applications can have a huge say in mortgage applications later on, also credit card is not the kind of debt one should get themselves into, with new laws permitting lenders to mention the period a consumer will take to be debt free if making minimum payments, now that will be an eye opener for all of us.

For people with short term credit card debts, one can look at credit card balance transfer to reduce the interest payments to nil or very low for a period ranging between 6 to 12 months an example Citibank Rewards Platinum credit card with 1.9% interest on credit card balance over 15 months. For people who have huge debts and cannot afford to make repayments on normal basis or behind on the debts should look into applying for a Debt Agreement which will make your repayments based on your affordability and give you a chance of being debt free in 3 to 5 years.

For 2013, We at Debt Negotiators recommend that you should have a sound budget and stick to it, have a high interest savings account online if you are computer savvy an example will be Virgin saver account which gives you 4.25% interest annually regardless of withdrawals and at anytime during the year, for consumer who prefer traditional banking St George offers a Maxi Saver account with interest rates from 3.00% to 4.80%. Be wise and save your way out.

At Debt Negotiators we specialise in Debt Management, whether it has to do with setting up your budget or to do with consolidating your debt, improving your credit file or doing a Debt Agreement. Please feel free to give one of our friendly consultants a call at 1300 351 008 and they will be able to help you with the enquiry.