TransUnion Survey Finds Almost Half of Canadians Resolve to Get Financially Fit in 2014
TORONTO, ON--(Marketwired - Dec 19, 2013) - With only a week until Christmas, many consumers are still out buying and wrapping gifts for loved ones, but TransUnion finds almost half of Canadians are already looking ahead to 2014 and to achieving their financial resolutions in the New Year.
According to a recent Google Consumer Survey commissioned by TransUnion, almost half of Canadians surveyed (46.7 percent) say they plan to commit to at least one financial resolution in 2014. Nearly a quarter (24.7 percent) said they plan to save more money, another quarter (24.2 percent) said they plan to pay down existing debt and almost an additional quarter (23 percent) said they plan to spend less money on unnecessary expenses. The study also found that twice as many (37.3 percent) did not reach their financial goal in 2013 compared to those that did (18.7 percent).
"The new year is the perfect time for consumers to appraise their current financial situation and make goals for where they want to be at the end of 2014," said Julie Springer, vice president at TransUnion. "TransUnion offers tools to help consumers understand their credit information, manage their debt, protect their identity -- and most of all, help them achieve their financial goals for this year."
TransUnion provides the following five tips to help consumers get financially fit in 2014:
- Check your credit reports frequently: The first step to robust credit health is to recognize which bad financial habits, such as late payments, you may have and how they are represented on your credit report. Regular check-ups may also help you guard against identity theft.
- Know your score: Understand what affects your credit score and take the necessary steps to reaching healthier credit. The higher your score, the better rate you are likely to receive.
- Create a monthly spending plan and stick to it: Determine your current spending habits, and set a monthly budget to determine just how much disposable income you have so you can manage it wisely.
- File a dispute. It is your right to question information on your credit report that you don't recognize or that might accurately reflect your credit history. Online dispute forms for TransUnion credit reports can be found on TransUnion.ca.
- Guard against identity theft: To help minimize your risk against it, sign up for a credit monitoring service that will quickly alert you to any changes in your report.
To get started on the path to achieving your financial goal for 2014, visit www.TransUnion.ca.
Written by TransUnion Interactive and conducted using Google Consumer Surveys, December 2013. Survey of 1134 Canadians. Survey results have a 95 percent confidence level.
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data, and integrating advanced analytics and enhanced decision-making capabilities. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Based in Burlington, Ontario, with global headquarters located in Chicago, Illinois, TransUnion provides local service and support throughout Canada. Visit www.transunion.ca to learn more. Follow us on Facebook at http://www.facebook.com/TransUnion.