Money And New Years Resolutions

Since it’s the New Year, its time to make some new resolutions.  And one of them might be for you to get into better financial shape.  In fact there are probably millions of Americans who feel the same way as you do. Every year there are people who try to accomplish this, but many times its abandoned all to quickly. But if you have a plan, you won’t have to be one of these latter statistics. We have listed some tips that will surely help you and your financial status. 

Set It Up

Is your main goal to save more money immediately? If this is so, an easy way is to simply have automated transfers set up within your bank accounts. By transferring money from your checking to your savings accounts, you can begin to save money quickly.  So assess you paychecks and decide on an amount that you would like to deduct from each of your paychecks.  This money will be transferred regularly and you probably won’t even know it.

This holds true for bills too. Don’t be one of those people who is constantly paying late fees.  Most companies will automatically draft your checking account or credit card. It will occur on the same day of each month. You won’t have to worry about paying bills ever again. 

People who typically use credit cards will spend more money than those who just pay with cash.  Have you tried a credit freeze. Put all of your credit cards in a plastic container, fill it up with water, and then place it in the freezer. 

You will be less likely to use the cards because they will have to defrost. But you will still have them in case you really need to use them. 

Have You Set Up An Emergency

Do you have an emergency account set up? If you face an emergency you can tap into this reserve. This should equal four months of your salary.