Ugh, it’s that dreadful time of year of again-New Year. Don’t get me wrong I love the idea of starting the year off fresh with a clean slate #NewYearNewMe but it gets annoying hearing people talk about the same old resolutions every…single…year. With that being said here are 6 New Year Resolutions that you can actually keep.
6 New Year Goals You Can Keep
Start or Continue Investing
Did you know that millennials are not as active in the stock market as previous generations? This is crazy because investing is how you grow your money. Whether you’re interested in the stock market, cryptocurrency, starting your own business-whatever, this year make an effort to grow your money by beginning or continuing to invest
Lower or Eliminate Debts
Nothing is more demoralizing than watching your paycheck you worked so hard for shrink because you have debts to pay. Whether you choose to knock out your smallest bill or the bill with the highest interest; paying off a bill completely will not only free up your cash flow but most importantly give you peace of mind.
Plan Fun Rewards
Like diets the success rate for a self imposed budget is pretty low. You start off strong but then that temptation creeps up on you and… Listen we understand the emotions involved with budgeting so to make budgets more enjoyable why not incorporate a rewards system. Create a “Good Job/Keep Going” category in your spending plan and treat yourself to fun activities like hanging with friends, going shopping, etc.
Build a Quick/Emergency Saving
So the general rule of thumb for savings is to have a 6 month emergency saving, but if you’re going to have that much money just sitting (assumingly) in a bank then you should make it worthwhile. Look for savings accounts or money market accounts that allow you to make withdrawals (for those emergencies) but also, more importantly, build interest.
Establish Charity/Giving Goals
Although the holiday times is traditionally the time when must people think about giving we actually tend to give money throughout the entire year. For your charity/giving goals think about church, birthdays, community organization, or unexpected events. Trust us-it’s more enjoyable to donate money you already planned on giving than money you feel like you may need later.
Check Your Credit Report
As you should already know-having a good credit score is highly valuable. New year means a new opportunity to check your credit report for free at annualcreditreport.com
It’s a New Year so leave that financial stress in the past. By following the 6 Financial New Year Resolutions above not only will you have a better grasp on your financial situation moving forward but also peace of mind.
