Easy Strategies for Keeping more Money in your Pocket in the New Year
Have you made a New Year’s resolution? If so, you’re in good company. But I wonder how many people have made a financial resolution? If making a financial New Year’s resolution seems about as plausible as sticking to your New Year’s diet resolution, cheer up: it is possible to change your financial thinking and keep more money in your pocket this year.
Here’s what you can do to change your financial future so the New Year won’t be so frightening in terms of finances:
- Start the New Year out right by ordering a copy of your credit report and clearing up any errors. Ordering a copy of your credit report from all three credit reporting agencies is a great first step to kicking off your New Year’s financial resolution. Simply put: you can’t fix things if you don’t know they exist. Bite the bullet and take a good, hard look at your debt.
- Gather your family around you and set financial goals together. Write them down and make it a family effort to see the goals through. Whether it’s to spend less and give to charity more, or it is to save more money for the family summer vacation, your financial goals should reflect your family values.
- Gather your credit cards together and set a game plan in motion for getting them paid off. It may seem like an impossible task, but the reality is that all you need is a solid game plan for making it happen. It will take perseverance and a good deal of determination, but make a plan for setting aside a particular amount of money each month that you’ll put toward your credit card goal so you can free yourself of the burden of debt.
- Take a credit card vacation and see how it changes the way you spend. Many families spend freely on credit cards but, when faced with paying with cash, are much more frugal. Taking just a one-month break from credit cards may provide you with an incredible amount of insight regarding your spending habits. You may also find that you spend much, much less!
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