With the New Year comes new resolutions, and if you are like most people, your finances could use some help or maybe a complete overhaul. Here are a few ways to improve your finances this year.
1. Check your credit
The first of the year is a great time to take a look at your credit report and see if there have been any changes from the previous year. If your credit score isn’t where you want it to be, set a goal to start improving and consider meeting with a Financial Advisor to get suggestions.
2. Create a budget
It’s important to determine exactly where your money goes. Set specific limits for categories such as bills, entertainment, groceries, kids, etc. Then, track your spending each week to ensure you are staying within the limits you have already set.
3. Set goals
As you reflect on 2012, you may decide that you would like to save more money in 2013 or perhaps reduce debt. Start by establishing realistic goals with a certain monetary amount in mind. For example, you could choose to pay an extra $50 each month toward a particular debt. To save money, consider opening a separate (off limits) savings account and have $25 direct deposited to it each week.
4. Cut out spending
To meet your goals, you’ll most likely have to work on a few of your spending habits. This could come in the form of dining out one less time per week, utilizing coupons, or doing without that new outfit.
If you want a little incentive to help you improve your finances this year, check out our SaveItUp 2013 Program.