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New Year? Time to Resolve Your Debts

If you’re thinking about which resolutions to make this year, you’re not alone. Thousands of people decide to become healthier, do more travelling, become a better person – or set themselves any number of goals.

However, one common aim is to get on top of debt. Reportedly, according to research published in the Independent, more than ten per cent of individuals under the age of 25, as well as around 15% of over 55-year-olds, want to get rid of their debts and be financially better off over the year.

Although this is often easier said than done, the same research revealed the average person spends more than £4,600 on accomplishing New Year’s resolutions. When it comes to dealing with debt, it appears around 20% will rely on credit cards to get in better financial shape.

Many also hadn’t figured out where they would get the funds to start resolving their debts. Fortunately, we have a suggestion.

How many use ‘debt consolidation’ to fulfil New Year’s resolutions?

The same research revealed that more than ten per cent of people used a loan to fund their New Years resolutions. Assuming this loan was for debt consolidation, that’s a pretty clever idea.

We’ll admit to being biased here. After all, this website is based on that service. However, here’s why this option can get you in better financial shape come 2021.

How to keep your New Year’s resolution from failing

New Year’s resolutions are typically made with the best of intentions. Unfortunately, they’re also infamous for failing. For example, according to YouGov, around a quarter of people who make these promises manage to achieve them.

The reasons for failing a New Year’s resolution are numerous but, ultimately, it comes down to two things:

  • The goal was too ambitious;

  • Some resolutions require support

In the case of resolving debt, dealing with a small sum of money can be a relatively easy task. Larger sums on the other hand, especially going into the thousands, are much harder to resolve. Going it alone is also possible, but it’s ultimately a lot better to talk about debt instead of trying to completely handle it yourself.

This is where applying for a debt consolidation loan makes sense – mostly because it resolves those two factors:

  • Getting a loan is often pretty straightforward – even those with bad credit are considered.

  • We do all the hard work for you. Potentially, you could have the funds you need in a few hours.

Here’s the bullet point, if you’re someone who’s made a New Year’s resolution to deal with your debts, a consolidation loan could be just what you need.

Find out more

Committing to resolve your debt in 2020 is admirable and we’re here to give you all the support you need. Fill in our application form below and you could have the money within a matter of hours.

With any luck, you could start 2021 with your debts being just a memory.