Who isn’t tired of making New Year’s resolutions, only to find out you’ve bitten off more than you can chew? Even though they can transform your future, too many of us opt for resolutions that are way too ambitious and sometimes even unrealistic.
You’ll often make more lasting changes to your financial habits when you make incremental adjustments over time.
So, if you’re looking for simple but highly effective financial resolutions to make at any time during the year- and not just specifically on January 1st, here are 15 ideas to inspire you to bite off precisely the right amount to ensure your success.
Double Down on Debt
Whatever you pay to stave off your debt, it’s time to up the ante. Increase your payments where possible to rid yourself of stressful debt even faster — it’s what you deserve!
Stick To Your Budget
Budgets shouldn’t be suggestions; find your way again and adhere to the budget you’ve made for yourself so you can achieve your financial goals.
Audit Your Expenses
What are you paying for that you shouldn’t be? Are there some unexpected places where you can slash costs? Comb through your spending and see what adjustments you can make from now on.
Don’t Fall for a Self-Sabotage Trap
A resolution might not come easily to you, but that’s no reason to give up on it. Make one of your resolutions to stick to your resolution and not get in your own way of financial freedom!
Build Your Nest Egg
It doesn’t have to be a particularly impressive egg. Every little bit counts, so start funneling some extra cash toward your future self.
Find Out Your Credit Score
Knowledge is power, so knowing your credit score can help you make more informed money moves this year.
Start an Emergency Fund
This savings is separate from your rainy day fund. If you don’t have money set aside for emergencies, you’re risking some potentially frustrating or even devastating consequences should things go south.
Write Down Your Goals
Sometimes, you need to visualize what you really want before getting anywhere. Write down your financial goals for the year to better understand how and where to allocate your money.
Watch Those Microtransactions
“It’s just a few bucks” quickly becomes hundreds of dollars by the end of the year. 2024, we resolve to find space in our budget by limiting these seemingly innocuous expenses.
Get Organized
Organization is vital if you’re ever going to make changes, and your finances are no different. Get those ducks in a row and documents filed away!
Use Apps to Your Advantage
Automate your financial future by trying out some of the various apps that can help you track your spending or create a budget — it makes things so much easier!
Plan Your Year
Do you have some potentially significant expenses in 2024? Build an expenditure roadmap so you know how you’ll handle them once you get there.
Check Retirement Balances
What’s your retirement situation looking like? If you’re responding with crickets, it’s time to get your retirement in order.
Compare Insurance Policies
Could you be saving on insurance costs by switching to another plan? There’s only one way to find out, and comparing insurance policies is faster than you think!
Consume More Financial Content
You’re already off to a good start with this article! Keep the momentum going by checking out podcasts, videos, and audiobooks that can help you stay motivated toward achieving your financial goals this year.
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