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.
Next, think about contributing more to your retirement account. It doesn't matter if you have a simple IRA or 401(k), as it's recommended that you add more to what you contribute on a regular basis. What this does, in theory, is allow you to retire sooner. You will have a more substantial account as well, meaning that it's more likely that you will be able to live the rest of your years in the ideal level of comfort.
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.
Finally, make a New Year's resolution to improve your credit score. If you've been noticing that your score has lowered, or simply remained stagnant, it may be time to make adjustments to your spending habits. For example, keep a credit card in good standing, paying what you owe on a monthly basis. If you can pay earlier than the due date, you'll be in better shape. The better your credit score is, the easier it will be to complete other financial objectives, such as obtaining a personal or business loan.
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.
Next, think about contributing more to your retirement account. It doesn't matter if you have a simple IRA or 401(k), as it's recommended that you add more to what you contribute on a regular basis. What this does, in theory, is allow you to retire sooner. You will have a more substantial account as well, meaning that it's more likely that you will be able to live the rest of your years in the ideal level of comfort.
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.
Finally, make a New Year's resolution to improve your credit score. If you've been noticing that your score has lowered, or simply remained stagnant, it may be time to make adjustments to your spending habits. For example, keep a credit card in good standing, paying what you owe on a monthly basis. If you can pay earlier than the due date, you'll be in better shape. The better your credit score is, the easier it will be to complete other financial objectives, such as obtaining a personal or business loan.
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For more details regarding finance in general, please contact Bobby Jain.. This article, New Year's Resolutions, By Robert Jain, That Maintain Your Finances is available for free reprint.
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