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7 Financial Resolutions to Make for the New Year

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For a lot of people, slimming down their waistlines is a fairly common New Year’s resolution. But we want to make sure your wallet is the one thing that doesn’t slim down in the New Year!

These next few months provide the perfect opportunity for you to meet and exceed your personal financial goals. Whether you’re in a little or a lot of debt, New Era Debt Solutions offers these 7 simple ways you can maximize your profits in 2019:

1. Change the Meaning of “Payday”

It’s hard not to look forward to that one day when your bank goes “ka-ching!”. For some people, it’s tempting to use a recently earned paycheck to treat themselves for working hard. Instead of spending senselessly, pay off your bills the same day you get your check. This will help you prioritize your spending and lessen the chance of missing an important payment deadline.

2. Commit to Cashflow Improvement

Living paycheck-to-paycheck is no way to truly live. Evaluate where you fell short this year and determine ways you can increase the green in your bank account. If you are dissatisfied in your job or are hoping to find a better-paying career, today’s the day to start looking. If you’re happy at your job, see if you can work extra hours or talk to your boss about a well-deserved raise.

You can also evaluate what you need in your life and what you don’t. Downsizing your house, car, or opting for cheaper health insurance plans might be options for you.

3. Close the Accounts You Don’t Need

How many credit/checking accounts do you have? There’s a good chance you’re racking up fees for every account you open. Evaluate which ones you actually need and close down the rest.

4. Ensure Your Future

If you aren’t already, vow to build an emergency fund over the next year. Allocate a minimum of $20-30 from each paycheck into a rainy-day fund. You never know if and when you’ll need those extra funds in the case of a car breakdown or medical emergency.

5. Make a Better Budget

Look over your books from 2018. At any point, were you being unrealistic or impractical with how much you set aside for housing payments, groceries, or extracurricular activities? Line up your budget with your current goals and income.

6. Resolve to Improve Your Credit Score

Did you know that as of September 2018, U.S. families have generated more than $1 trillion in credit card debt? That being said, there’s probably room for improvement in your credit score. Watch your credit card balances like a hawk and pay off your debts as quickly as you can (start with the debts that have the highest interest rates). Learn from your past mistakes, but don’t let it discourage from forging a better, brighter financial future!

7. Focus on YOU

Your health and mental well-being should be your number-one priorities. After all the less stressed and ill you are, the less you’ll need to pay for doctors’ visits. But there is definitely something to be said for those who value their personal happiness as much as wise financial choices.

New Era Debt Solutions has settled over a quarter of a billion dollars of debt since 1999 and wants you to be our next success story. If you need assistance in achieving financial freedom, contact one of our friendly counselors at New Era Debt Solutions to learn more about finding the debt relief option that best fits your needs and budget. Our counselors are with you every step of the way.

Over $200,000,000 Debt Settled Since 1999!
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