A new year is upon us. And with it, a fresh opportunity to improve your personal finances. If you could use a few ideas, here are eight resolutions and some tips to help you succeed:
Resolution #1: Ramp up retirement savings
Most people want to retire someday. In order to ditch your work clothes for a bathing suit and sandals, it’s important to have enough money saved away. Experts recommend that you save eight to 11 times your annual income for retirement.1 If you need some help reaching your goal, check out these smart ways to save for retirement.
Resolution #2: Quit bad spending habits
Expensive shoes. High-tech computer equipment. The latest smartphone. No matter what your spending vice is, chances are it doesn’t make your budget happy. Here are some tips to prevent overspending to keep in mind.
Resolution #3: Pay monthly bills on time
For some people, it’s lack of organization. For others, it’s forgetfulness. Either way, it could be costing you late fees and negatively affecting your credit score.2Start your year off right with these tips to pay your monthly bills on time.
Resolution #4: Find a budget that works
When it comes to budgeting, “one size fits all” does not apply. Knowing what budget types exist could be your key to success. Here are some options to help find a budget style that works for you.
Resolution #5: Work to improve credit score
Good credit can open many doors in life. Although building up your credit score could take time, the sooner you start, the sooner your score could improve. Start your journey to better credit by reading these tips to improve your credit score.
Resolution #6: Create emergency fund
Whether it’s an unexpected job loss or a trip to the emergency room, bad things happen to good people. In order to cover the cost of these unplanned events, it’s important to have an emergency fund in place. For more information, consider this guide on how to build an emergency fund.
Resolution #7: Ask for a raise
Did you know that 75% of people who ask for a raise receive some type of pay increase?3If you feel confident in your work performance, your time could be now. Learn how to prepare and deliver your request with these tips to asking your boss for a raise.
Resolution #8: Talk to a financial advisor
Money management isn’t for everyone. If you think that your finances could benefit from professional guidance, research your local advisors. As you evaluate your options, consider this advice on what to look for in a financial advisor.
This is the year
Resolutions can become reality with planning and a desire for success. As you finalize your list, make sure your goals are meaningful, specific and achievable. Now get out there and make it happen!
One more thing....
If you’re ready to take budgeting to the next level, download and print a monthly budget worksheet today. You can track your finances, set goals for each month and learn how to grow your savings. We also offer an online budget calculator if you prefer a digital version. Good luck!
|1. Hover your cursor over the worksheet||1. Hover your cursor over the worksheet|
|2. Press Control + C and select “Save image as”||2. Right-click the worksheet and select “Save image as”|
|3. Save the image to your desktop||3. Save the image to your desktop|
|4. Print||4. Print|
1. U.S. Bureau of Labor Statistics. “Saving Early for Retirement.” Bls.gov. https://www.bls.gov/careeroutlook/2013/fall/art02.pdf (accessed December 22, 2017).
2. Federal Trade Commission. “Credit Scores.” Ftc.gov. https://www.consumer.ftc.gov/articles/0152-credit-scores (accessed December 22, 2017). 3. Payscale. “Before You Ask for a Raise, Do These 3 Things.” Payscale.com. https://www.payscale.com/career-news/2017/05/ask-raise-3-things (accessed December 22, 2017).