Here we all are, about to welcome 2017. It’s a brand new year, and it’s time, yet again, to set our goals for the whole year. Setting New Year’s resolutions is easy, but following them until the end of the year is truly a challenge for almost everyone.
The key to having attainable New Year’s resolutions is by keeping it realistic and achievable. A goal involving money is much harder to achieve and thus, starting with easy ones will get you through the challenge.
Here's some of the things you could use as New Year’s resolution
1. Vow to pay all of your debts this coming year. This is a great way to start the year. Think about it: you wouldn’t have to worry about that debt that you have been avoiding, plus, you get to save up! However way you want to pay it doesn’t matter. You can pay it every pay day, every week, or every two weeks. What’s important is you get to pay everything during the course of 2017.
2. Try looking for a freelance job. If you are employed with a company, chances are you get home early, and most of the time, you have nothing else to do. Make good use of your extra time by looking for a side job for extra income. Try looking online, but be extra cautious and know how to spot scammers.
3. Give second hand stuff a try. Everything doesn’t have to be brand new – you just have to learn to choose wisely. For example, if you are looking to buy a new car, you can try applying for car financing instead. This gives you a chance to own a quality rent to own car while being able to pay for it on an installment basis.
4. Start an emergency fund. With different countries having unexpected recession every now and then, it’s wise to have an emergency fund. It’s good to know that you have a bank account to turn to if ever you lose your job, or some sort of emergency comes up. You do not have to put all of your money in the bank right away – you can build up your emergency fund by putting a portion of your pay to the account every pay day.
5. Track your spending and create a budget. Start the year right by listing your budget and every spending down. List it on your phone or on a notebook – whichever you find convenient for you. Make sure to list everything down – from that new phone down to the pack of gum that you bought from the convenience store.
6. Start investing in your retirement plan. No, it is never too early to start saving up for your future. It doesn’t matter if you’re 25 – you have to start today. There are a lot of insurance companies and banks that could help you with your own retirement plans.
Excited to start the year right with our tips? Make sure to keep them until the end of the year and the following years to come, too, and you have got yourself a very bright future! Wishing you a very Merry Christmas and a prosperous 2017!