- Ditch high-interest debt. Whether the holidays caused you to overspend or you were tempted by a store credit card offer, it can be easy to rack up debt, but you don’t have to continue paying high interest rates. eCO’s Resolution Loan is a great solution. At 7.99% APR, you can use it to pay off debt and reduce your interest rate. With no annual fee and low-interest rates, a balance transfer (also fee free) to an ēCO VISA Credit Card could be another great option for you.
- Create a budget. The word budget often carries a negative connotation, but it’s simply taking the time to tell every dollar where to go. If you’d like some help getting started, be sure to check out our ēCO Savings Race University line-up, available in early January. We’ll have a class dedicated to teaching you how to get started.
- Establish an emergency fund. Dave Ramsey, a well-known financial speaker, recommends that you tuck $1,000 in an emergency fund when working to get out of debt. Once debt-free, he recommends increasing your emergency fund to three to six months of expenses. Think about your last emergency. How much peace of mind would an emergency fund have provided?
- Start saving for Christmas. Wait… didn’t we just make it through the holidays? Yes, but let’s say you spend $1,200 at Christmas each year. That could hurt your December budget or cause you to go into debt. Instead, save $100 per month in an ēCO Christmas Club. You’ll be ready to tackle everyone on your list, AND you’ll earn interest throughout the year.
Can ēCO help meet your 2018 goals?
ēCO’s Resolution Loan*
Terms up 12 Months
*Subject to credit approval.
**Terms up to 12 Months