The SmartyPig team would like to thank each and every one of you for not only taking the time to create your new “Race Out of Debt” goal, but most importantly putting an effort towards paying down your current or expected personal debts. New and existing SmartyPig customers created thousands of “Race Out of Debt” goals during the contest, and we commend you all.
So without further adieu we bring you the Pig Race….
Why do some individuals find it so difficult to ask for help, especially when it comes to money? Laura Rowley from Yahoo.com Finance put together an interesting piece this past week, answering that very question. How many of us get help with the math on our credit card debt, or even bother to ask questions about the unbelievably high interest we pay? Many individuals fail to understand the concept of these rates and put themselves in a hole by only making minimum payments.
It’s a hole that becomes difficult to get out of. And without a closer look, you’ll never know just how hard of a hit you’re taking. Negotiate, explore and always make sure to read the fine print and you’ll be rewarded.
At SmartyPig we’re trying to help reverse the credit card mindset of “buy now, pay later” for people who have goals. And our “Race Out of Debt” contest is going to reward one lucky person with almost five grand to help him or her get back on solid ground with regards to plastic. But when a couple thousand dollars of credit card use can lead to more than 10 years of monthly payments, the real reward lies in learning how to save and spend smartly. It will change your life. You can do it. All you need to do is take the first step and ask a lot of questions along the way.
Wishing you luck in all of your savings goals!
Sarah Foss, SmartyPig’s Media Mad Woman