January is Financial Wellness Month – How is your financial health?

Budgeting and money management are key to making good financial decisions and achieving your financial goals. Most people know how much money they make, but find it hard to keep track of where their money is going or how much their debt costs them every year. Making a budget is a good first step in managing your money and keeping your finances on solid ground.

Buying on credit and taking out loans have become commonplace, but consumers who spend beyond their means can end up with an unmanageable debt load.

Dealing with debt can often seem like an impossible task. When you decide to tackle your debt, it is important to have a plan that will work for you. If going into debt has harmed your credit rating, you also need to take action to rebuild your credit. A poor credit rating can affect more than your ability to borrow. For instance, many employers require a good credit rating as a hiring requirement and landlords may run a credit check before accepting a tenant.

If you need help creating a plan to deal with your debt, use our Financial Goal Calculator to get a clear picture of what you owe and to see different options for paying it back.

For more tips and information on how to manage debt, check out the following sections.