You don’t have to wait until the New Year to set goals to become wealthier. If you want more wealth one year from now, the truth is time is money. Waiting just a few months to consolidate your debt can cost you. With debt consolidation, you don’t just make paying off your debt easier with one monthly payment. Trained counselors with a reputable organization such as Christian Credit Counselors will negotiate a lower interest rate. You don’t even need to talk to your creditors to make it happen. According to a piece by, there are a lot of little things you can do to increase your wealth in just one year. In one year, you could have significantly less debt and money in the bank as well.

Put more in retirement savings

Not everyone has access to a company-sponsored retirement account, but if you have earned income and aren’t an exceptionally high wage earner, you can put money in a Roth IRA. Whether you increase the percentage you let your company automatically put into a 401(k) or move money into a Roth, you will be richer in one year.

Eliminate three expenses

Experts with suggest finding three expenses to cut that won’t hurt your lifestyle but could be life changing as far as your wealth. Instead of cutting out cable or cellular phone completely, just pick a less expensive plan. Cancel a gym membership as well as any magazine and newspaper subscriptions. By talking to a credit counselor, you can brainstorm other ways to cut costs and free up money for building wealth and paying off debt.

Resist the debt temptation

One way to resist the temptation to spend money is to leave the credit cards at home. While engaged in a debt management plan, you will refrain from using your credit cards until you are completely free of credit card debt. Although you can use a credit card in the future, you will likely want to continue with your all cash spending plan. Experts with advise using the debt snowball method, which is a strategy you’ll employ with a debt management plan.

Selling things you don’t is another way to get into the mindset of the debt-free lifestyle. When you live on less, you realizing it’s not you who owned things. Rather, it was your things that owned you. The sooner you start saving and investing, the sooner you receive dividends and interest. If you decide to invest in real estate, you will likely enjoy the appreciation in home value whether you own a primary residence or a rental property.

At Christian Credit Counselors, we help our clients consolidate debt so they can get out of debt 80 percent faster than other methods. One year from now you could feel lighter and happier as the debt load is no longer weighing you down.

Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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