Important New Year's resolution: Back up your digital files
Top 10 consumer stories of 2014

How to reduce your credit card debt in 2015

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Credit card debt is rising, and consumers are expected to increase their credit card debt by more than $60 billion in 2015.

With credit easier to get and the economic recovery continuing, consumers need to take advantage of New Year’s resolutions to improve their credit habits in 2015.

CardHub, a credit card comparison website, released its list Tuesday of the most important Credit Resolutions for 2015 to help consumers prioritize their improvement and learn how to bring about their intentions.

The resolutions below are based in part on conversations with a panel of finance and consumer psychology experts:

  • Escape credit card debt by making plan such as figuring out a budget, using the Island Approach, and getting rid of high-interest debt first.
  • Build excellent credit.
  • Improve your children’s financial literacy.
  • Start a Rainy Day Fund.
  • Improve your health.

See CardHub's report, including a Q&A with financial specialists, for tips for achieving the resolutions.

Copyright 2014, Rita R. Robison, Consumer Specialist

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