Polk Partners can be there for you in difficult times

Never in recent times has the world been facing such an unprecedented situation.  It is unheard of, job losses are high, ways of working have changed and we are facing a health crisis of unknown proportions. For most of us know we are turning to look at our finances in order to keep them in check as best as we can while the world faces this crisis. Financial difficulty is something we really dont need the added stress of right now.  But there are things we can do to help our situations. While some of us may like to borrow to assist with this current situation, some other may look to solutions which prioritize what a  clients need by offering a single monthly payment with low interest rates.

The last thing you want to do is become saddled with high interest bearing, repayable on demand credit cards.  Sites like Investopedia or Wikipedia can be useful if there are terms you don’t understand as often the financial world can be full of jargon which the average one of us might struggles to succinctly understand.  The fear of the unknown can be daunting and like most things in life knowledge is power.

Polk Partners

There are lots of organisations available who can help you in this regard, one that I am aware of is Polk Partners  who have a toll free number you can call if you do have any queries around high interest rate credit card debt. While doing some research for this article I was blown away by some of the statistics surrounding credit card debt in the USA – the average US consumer owns 3 credit card and county wide the total revolving debt stands at over a trillion. That is just mind blowing considering how expensive it is.  Which leads me to the average interest rate being around 16% – huge. In terms of the demographic, its those mostly in the 35-65 age category who has amassed the most credit card debt.

Some more tips

Some other things you can do to help your won debt situation include:

• Switching cards – seeking out the best rates and moving your balance across
• Switch to generic, shop brands for some items rather than the high end brands
• Bring you keep cup for teas and coffees to avail of discounts or better still take your own from home
• Review your utility providers – is there better value out there? Would switching save you money or even do you need all of them, eg some of the streaming services? Some provide very similar offering so maybe you don’t need all of them
• I have written about this before, im a massive fan of the “loose change jar”. It is as it says we stick our odds and ends of loose change into a jar and then cash in for our spending more for holidays. Its simple but very effective. Its actually surprising how quickly it builds us.
• Another thing that I do but probably not as much as I should is bring my lunch to work. I worked out I was spending an eye watering amount of money on lunches and vowed to cut that in half which I have done im delighted to say. There is room for improvement but my increased awareness has me making better decisions to save the extra cash to pay off loans or treat myself!!

 

Note: This is a collaborative post