As Robert Jain, as well as other minds in finance, can attest, some of the most common New Year's resolutions have to do with money. Whether it's a matter of saving money in general, building an emergency account, or what have you, resolutions are varied. What are some of the best that can help you with your finances? Here are just a few, in addition to ways that you can ensure that they're carried out.
One of the most common New Year's resolutions, as far as finance is concerned, is to build an emergency savings account. Whether it's due to a lack of employment, a medical concern, or what have you, there may come a time when you have to pay a considerable amount. Why not alleviate the concern of having to pay out of pocket? This is why you should build the aforementioned account, which names such as Bob Jain will recommend that you do as well.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
Next, focus on becoming healthier. While this may not seem like a financial resolution, on the surface, you have to consider the costs that are often associated with a healthy way of life. A gym membership, for instance, can eat away at your bank account. The losses are especially noticeable if you don't go to the gym often. There are other ways to stay healthy, such as home exercising and eating properly, that won't cost nearly as much.
Perhaps the best New Year's resolution that one can make, as far as finances are concerned, is by boosting their credit score. If you have been having trouble obtaining a loan or opening a new credit card, it's possible that a low score is to blame. You can improve this by making smarter purchases, only buying what you know you can afford. This will allow to pay more affordable monthly bills, which will go a long way in improving your score.
One of the most common New Year's resolutions, as far as finance is concerned, is to build an emergency savings account. Whether it's due to a lack of employment, a medical concern, or what have you, there may come a time when you have to pay a considerable amount. Why not alleviate the concern of having to pay out of pocket? This is why you should build the aforementioned account, which names such as Bob Jain will recommend that you do as well.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
Next, focus on becoming healthier. While this may not seem like a financial resolution, on the surface, you have to consider the costs that are often associated with a healthy way of life. A gym membership, for instance, can eat away at your bank account. The losses are especially noticeable if you don't go to the gym often. There are other ways to stay healthy, such as home exercising and eating properly, that won't cost nearly as much.
Perhaps the best New Year's resolution that one can make, as far as finances are concerned, is by boosting their credit score. If you have been having trouble obtaining a loan or opening a new credit card, it's possible that a low score is to blame. You can improve this by making smarter purchases, only buying what you know you can afford. This will allow to pay more affordable monthly bills, which will go a long way in improving your score.
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