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There are many reasons you might decide to embark on a home renovation project. Whether you’re looking to refresh your kitchen and bathroom or completely update your entire property, you’re likely looking at a significant out-of-pocket expense.

Whether you’re looking to buy a home or car, take out a loan, open a credit card account, or even purchase a new auto insurance policy, your credit score will likely come into play. This three-digit number is calculated based on a variety of financial factors, and can influence whether a lender or creditor is willing to work with you.

Do you remember your first bank account? You probably had just one to start with; this account was where you deposited your earnings and withdrew cash. You may have used tools like a debit card and even billpay to make purchases and pay monthly bills.

Walking around with at least some level of credit card debt has become relatively normal in today’s society. The average American has thousands of dollars in revolving debt to their name, much of which is accompanied by a two-digit interest rate… and those numbers seem to grow higher each year.

There are many different reasons you might want to save money. For instance, you could be storing those dollars for a specific purchase in the future or simply setting aside funds for the proverbial “rainy day.”

Between travel, meals, experiences, and gifts for loved ones, it’s no surprise that consumer spending often peaks around the holiday season. In recent years, though, this spending has increased to now-record levels, leaving many families facing high balances come January.

According to a recent study from Experian, the average credit card account has a balance of $5,221. Based on data from the Federal Reserve, though, the average credit card also has an interest rate well into the double digits, which can cost cardholders thousands of extra dollars over the course of their debt repayment.

The start of a new year is always an exciting time. After the holiday season has wound down, the presents have been put away, and the last of the extended family has gone home, many of us are left reflecting on what the past year brought and what we hope to get out of the year to come.