New Year Finances!
What is your New Year’s Resolution? Have you decided to lose 20 pounds, organize your house, or stop biting your nails? What about your new year finances resolution? Setting New Year’s resolutions for yourself is easy, but committing to and following through with them is a whole other ball game. This is why it’s so important to set realistic and achievable goals for yourself like finally cracking down on your new year finances.
Whether this is a realistic goal is dependent on your financial and debt situation. If this hurdle seems too great to conquer on your own and you’re already behind in payments, consider seeking out a credit counselling company that can help with your new year finances. For a great Canadian-based company, we would recommend @ease Credit Management Solutions.
Learn to Save
This may sound really easy, but it rarely happens overnight. Getting yourself in the habit of using money-saving techniques can be a lengthy and involved process, but a new year provides the perfect time to apply yourself and get familiar. The results you’ll see over the next year will make you glad you took the time to focus on your new year finances.
Start an Emergency Fund
This can be saved for a rainy day or in the case of an emergency, but having these extra savings can keep you prepared for anything. Life is unpredictable and being prepared can relieve so much stress in a sticky situation. Starting an emergency fund is a great way of showing dedication to your new year finances future.
Make Extra Payments
Whether it’s towards your mortgage, car, furniture, or student loan, making extra payments is a great way to start the year. By making additional payments when you can, you’re reducing the time it will take to pay this off while also reducing the interest. Reducing your debt faster will only make you feel better about your new year finances.
Find an Additional Income
Generating a side income can be an excellent resolution. Picking up a second job, starting a small side business – even if it only brings in an extra $100 a month – can be an excellent safety net and help you pay down any bills.