If you’ve got loans to pay and credit card debt to clear, you’re not alone. Loans and instalments can help manage expensive purchases, but the added-up interest can be detrimental to your finances. Try to avoid taking on any more additional debt this year – settle your monthly credit card bill in full, make your loan payments on time, and – for purchases that aren’t urgent – pay off ongoing instalments before you start new ones.
These are just some ways you can build good money habits. Try to find what suits you and have a great financial year!
This article is brought to you by CIMB as part of our ongoing efforts to raise the level of financial literacy among Malaysians. Financial knowledge and understanding are key to making well-informed and meaningful financial decisions that will improve all our well-being. This, in turn, achieves CIMB’s purpose of advancing customers and society.