Page 11

FCNB_Ebook_AUG_17

SAM’S DEBT MANAGEMENT STRATEGIES: GIVE YOURSELF A COOLING-OFF PERIOD: If you don’t have the money to make a purchase, ask yourself if you really need it, before buying on credit. Walk away and give yourself time to consider the purchase. HAVE A PLAN TO PAY OFF YOUR DEBT BEFORE YOU MAKE A PURCHASE: Know how much time it’ll take to pay off, and where that money will come from in your budget. THINK ABOUT THE LIFESPAN OF THE PRODUCT BEFORE YOU BUY IT: If the item you purchase will only have a four-year life, but it’ll take 10 years to pay off, you will likely have to replace the item before you’ve finished paying for it. ALWAYS READ YOUR CREDIT CONTRACT: If you decide to make purchases with credit, it’s important you know the interest rate you’re being charged, the term, the total cost of credit, the amount of time you have to pay off your bill without being charged interest, when your payments are due and how long you have to make the payments. Talking to your children about money from a young age sets them up with smart money habits to help them succeed later on in life. Incorporating small, daily activities – such as the ones found in Make it Count! – can help children understand the concept of debt, without worrying about household costs. NEW BRUNSWICK’S TOP DEBT MANAGEMENT SMART TIPS: ÉTIENNE Attention aux cartes de crédit! Faire des achats sur ta carte de crédit, ça peut être très pratique, surtout en ligne, mais il faut être prudent. Le montant dû sur une carte peut augmenter tranquillement au fil des mois et devenir, au bout d’un an, une dette difficile à repayer. Un bon truc est de considérer le crédit comme de l’argent emprunté à courte échéance. Dans la plupart des cas, tu devrais payer ta carte au complet à la fin du mois. De cette façon, pas de dette, pas d’intérêt. DAN Live within your means and stay on top of bills. [It’s] harder to catch up than it is to keep up.


FCNB_Ebook_AUG_17
To see the actual publication please follow the link above