Getty ImagesJGI/Jamie Grill If you’re resolving to accomplish anything this new year, chances are that thing has to do with money–namely, spending less and saving more. It probably also has to do with settling bills for those times you spent money you didn’t have. A recent study found that the average U.S. household is carrying almost $7,000 in credit card debt (meaning they’ll have to fork over almost $1,000 of interest each year). Kimberly Palmer, a personal finance expert at NerdWallet, helps you get back on track and meet your financial resolutions. 1. Get a Balance Transfer CardIf you’re carrying credit card debt, consider a transfer. “Interest rates are rising right now, so it’s really useful to lock in a balance transfer card for the new year before rates go up more,” says Palmer. These cards allow you to transfer debt from your old credit card – and with a zero percent introductory APR. That means if you can meet the minimum payment each month during the 12-15-month introductory period, you can pay off your credit card debts without accruing more interest. It may sound too good to be true, but it’s the real deal. Remember, though, stick to a… Read full this story
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