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New Year's Resolutions: Finance

New Year's Resolutions: Finance

December 20, 2022
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Financial New Year’s Resolution

 Below are a couple of ideas that you can use to get on track to start 2023. Using one of these would be an excellent way to take control of your finances in the new year, or try coupling a couple of them together to start seeing drastic improvements in your financial wellbeing. 


Save more!

 

This is one of the most common goals when heading into the new year. There are so many ways to save money in the new year. Set up an automatic transfer when you get your paycheck, so you never forget to pay yourself first.

 

New Year, New Budget

 

In 2022, only 30% of households followed a budget. One of the easiest ways to get your finances on track is to track your spending. Do you ever feel like you get paid and instantly your money is gone but you don’t even know where it went? Well, a budget gives every dollar a purpose, so you know exactly where it is going.

 

Improve Your Credit Score

 

If you have a credit score below 700, you might be thinking of improving that. If so, you can use this year to make that the top of your priority list. Make sure you pay your bills on time, limit opening new accounts, and cut back on spending. One of the best ways to improve your credit score is to take advantage of the autopay feature that most companies offer. 

 

Pay your full card balances every month

 

This goes well with the goal above, but instead of making minimum payments, making your full balance payment every month is a fantastic goal. Paying your full balance will increase your credit score and will reduce interest. It may be hard, but this is the best and easiest way to stay on top