Financial New Year’s Resolutions Every Woman Should Make
Looking to change your financial situation this year? Make these fiscal New Year’s resolutions to put yourself on the right path in 2016.
Deal In Dollar Amounts
Swap vague resolutions like “Save more money this year” and “Get out of debt” with concrete goals like “Save $200 from each check” or “Pay off $100 in debt each month.”
Trim the Fat
Once a year, everyone should look over their monthly bills for unnecessary services that they can eliminate to save money — or ways to refinance as well as get new quotes.
Max Out Your Credit Card’s Usefulness
Do so by matching perks with your intended use. Pick one credit card with great rewards for daily purchases (pay it off every month to avoid monthly charges). Switch your revolving debt to another card with a lower APR.
Never Miss Another Credit Card Payment Again
In this day and age, there’s no excuse not to have automatic bill pay. Set the monthly amounts for any amount above the minimum to avoid late charges (and dings to your credit).
Be Prepared for An Emergency
If “What if?” happens in 2016, this time, you’ll be prepared. An ideal emergency fund contains 12 to 18 months worth of your take-home pay. Fill it up a little each month and you can relax a bit more the next time disaster strikes.
Find An Investment
Already have a savings account? Let 2016 be the year your money makes money for you.
Improve Your Credit
Good credit can always get better. Simply opening a credit card (you don’t have to use it) with no delinquencies will report positively to your credit agencies and help cover up any dents in your credit history.
Follow that up with a monthly credit tracker to keep an eye on anything that could bring your score down.
Change Your Email Password
And keep switching it every three months to prevent identity theft or account hacking.
Take Care Of Your Health
An apple a day keeps the medical bills away. I think that’s how the saying goes…
When you report a company’s bad behavior through reports or reviews, everyone’s financial situations improve. Pay attention to other reviews as well and you can save money by getting the best service for the least money.
Monitor Your Spending
Apps like Mint help you keep track of all of your outgoing expenses to avoid spending on unnecessary items — like McDonald’s three times a week — that could go into your savings.
Make More Money
Whether that means that this is the year you go back to school, start your Instagram business or put yourself in position for a promotion or raise, every month, make sure you take steps toward earning more by 2017.
Start Planning For Retirement
It’s never too early to start putting the recommended 15 percent of your salary in your interest-building savings account or 401k.
Spread The Word
You’re more likely to stick to a resolution if you tell people who will check up on your progress from time to time.