MasterCard offers consumers a way to kick start their new year's resolutions with a checklist of ten tips for financial stability. The credit card processor's global operations team has developed a new financial education program, called Smart Consumer. As part of the initiative, program managers posted their tips to a new global website: http://www.smartconsumer.ws.
- Know your expenses.
- Evaluate your finances.
- Establish your goals.
- Make a plan.
- Monitor your expenses.
- Pay off the highest bills first.
- Know your interest rates and late fee amounts.
- Pay more than the minimum payment.
- Prize success.
- Be patient.
According to company spokesperson Andres Ignacio Gonzalez, MasterCard's Smart Consumer financial education program can help families develop good money management habits that lead to a variety of long term benefits. In a statement to reporters, Gonzalez noted that effective credit card management can help ensure that families have enough extra cash to face emergencies and to prepare for retirement.