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New Year Resolutions

by Catherine Muriel on 12/31/08

2009 ResolutionsTo keep your credit in good standing, buy smarter and continue giving…that is something we can all strive for. 

Try to keep your credit card balances low:
As a general rule, keeping your credit balances around 25% – 30% of the credit limit is a smart move. This will assist in protecting your credit score. When you use your credit cards pay more than the minimum due if possible. And if you have more than three or four cards reducing the number is a good idea: especially store cards. It’s easy to forget you have all those cards, acquired when being offered 10% off your store purchases, but these all go onto your bureau and show you have a lot of credit lines available.

Buy a car that will last at great financing:
If you have good credit you can get a new car at a good rate – however, some states are requiring a score of over 750. There are still a number of ways to get a car loan – directly with their finance companies or through your bank or credit union. Be sure to shop around to find out how to get the best rate. The car companies are eager to move their 2009 inventory so you might be able to negotiate a better deal once you have your bank/credit union rate in hand.

Don’t forget the charities:
Charities are hurting this year in large part due to the credit crisis. However most of us can afford to give a tax deductable donation of some small amount. Or you can always clean out your closets and donate the items to Goodwill or the Salvation Army. You can even donate your car – it’s very simple – you can fill out a form online or call a toll free number and a representative will assist. Once the information is input the organization will work with you to ensure you get the best tax deduction possible. They then provide you with the official paperwork so that you can file your tax deduction. If you search “donate car to charity” a number of sites will show up. Many are nationwide and arrange free pickups.

We wish you a very Happy New Year and here’s to keeping all those resolutions for longer than a few days!

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