You talk to your clients all the time about their financial goals, so it’s no surprise that nearly have of Canadians have some financial resolutions for 2014.
Almost half of Canadians surveyed (46.7%) by Google for credit reporting agency TransUnion say they plan to commit to at least one financial resolution in 2014.
Of those surveyed, nearly a quarter (24.7%) say they plan to save more money, another quarter say they plan to pay down existing debt and almost and 23% say they plan to spend less money on unnecessary expenses. The study also found that twice as many (37.3%) didn’t reach their financial goal in 2013 compared to those that did (18.7%).
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Ensure clients:
- Check credit reports frequently. It helps highlight bad financial habits, such as late payments. Regular check-ups also help guard against identity theft.
- Understand credit scores: Understanding what affects a credit score will help clients take the necessary steps to reaching healthier credit.
- Create a monthly spending plan and stick to it: Work with clients to determine their current spending habits and set a monthly budget.
- File a dispute. It’s everyone’s right to question erroneous information on their credit report.