(PR.co.nz) It seems that credit card interest rates remain high whether the Reserve Bank of New Zealand decreases or increases the official cash rate or not. Credit card debt is certainly not a cheap form of debt and if you are juggling a lot of debt and paying high interest rates you should be looking for a better deal. The better deal would come in the form of a debt consolidation loan and the interest will certainly be a lot lower and you will definitely save money and pay your debt off quicker.
Debt consolidation allows you to have a debt free date, a day to celebrate your success in managing your money well. It also enables you to have flexible payments and a realistic term to pay your debt off. The loan can be paid off at any time without penalties and you can set up a budget to save for those things you really need.
Research shows that people’s priorities apart from earning more are to save, to feel in control, organised and secure. Participants said these four skills were important to managing their finances.
1. Sorting out needs versus wants
2. Keeping track of finances
3. Seeing actual results over time
4. Turning ideas into goals and plans
Debt Consolidation can help these goals happen. It can help you become more disciplined about not obtaining any more debt. You can see the results as you only have one consolidation loan to monitor. You can start setting your next goals and plans to ensure you feel totally in control of your finances. It is a win-win situation.
For more information on debt consolidation see NZCU South’s Debt Consolidation page.
Media Release on 16 June 2015
Tania Dickie (CEO), NZCU South
Phone: 027 830 0042