As we bask in the afterglow of Christmas, New Year’s Day is less than a week away. Now’s the time to think about making resolutions.
Of course, this may remind you of the resolutions you made last year that didn’t, well, last.
Give yourself a break!
We all fall short from time to time. That’s no reason to give up.
The Keating Agency found some financial resolutions you may want to adopt. Also, we have suggestions to help you keep these, or any other you make.
New Year’s Resolutions for a Brighter Future
The whole idea behind New Year’s resolutions is to make positive changes. You want to stop bad habits or start good ones. You want to feel more in control of your life.
If a better financial outlook is your goal, folks at USA Today Business found the most common resolutions. They are:
- Save more money
- Spend less
- Build and emergency fund
- Save for retirement
- Pay off debt
These common goals often get derailed. The key is to make goals manageable. If possible, make them automatic.
Saving money can be as easy as directing a percentage of your paycheck to a savings account or your company’s retirement plan.
To spend less money, make a budget. This requires a thorough examination of where your money is going, which can be difficult.
It also can be eye-opening. Those morning coffee runs can take a real bit out of your budget. Get a travel mug and bring your own.
By increasing your savings and reducing your spending, you also are on your way to building an emergency reserve fund and saving for retirement.
However, paying off debt can seem insurmountable. You may have splurged for the holidays and made the amount larger. Having a plan is key. You may want to enlist the services of a financial planner.
If a financial planner seems out of your budget, you may want to tackle the highest interest debt first.
Of course, one of the keys to your success will be to stop using your credit cards.
Whatever your New Year’s resolutions are, this article from ScienceAlert has some tips for keeping them. From framing your goals in positive terms to imagining the rewards your resolutions will bring, these scientific suggestions can help.
If the Keating Agency can help with your resolutions, don’t hesitate to give us a call.
We’ve been your local, independent insurance agency for 50 years. The Keating Agency, and our family, look forward to serving you for 50 more.