(NC)— An unfortunate event, such as a sudden job loss or a work related disability, can happen to anybody. Here are a few tips that may help you improve your financial picture.
• Review your spending habits
- Monitor and reduce unnecessary expenses. Simple changes like bringing your own lunch to work or school and making coffee at home can add up to thousands of dollars saved per year.
• Be ready for unexpected events by insuring loans, mortgages and credit cards
- Insurance products on personal loans, credit cards and mortgages, such as LoanProtector®, BalanceProtector®, or HomeProtector® from RBC Royal Bank, can help protect you in case you're unable to make the monthly payments.
• Look at combining financial products for additional savings
- Consider bundling products for additional savings. For example, if you purchase your home and auto insurance policies through one provider - you may qualify for additional savings.
• Pay off your credit cards with the highest interest rate first
- This can save you hundreds of dollars per year. Also look to transfer high interest credit card balances to a card with a lower rate. Speak to your credit card company about getting a lower interest rate card.
More information on this topic is available online at www.rbcinsurance.com/insuranceneeds or visit your nearest RBC Insurance branch.
Source: www.newscanada.com
1 comment:
Great tips, I'm actually applying some of them in my daily routine already, such as the first two. Thankfully I don't have credit card debts to pay--that's one scratch on my to-do list already.
-Imee
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