My resolutions for 2018 are fairly simple: cut carbs out of my diet, spend more time with friends and family, and build more savings. While the latter is one of the more common New Year’s resolutions to have, it isn’t easily achieved. Too often, people set money goals with dollar amounts that are a bit too ambitious, or they set themselves up with spending plans which end up being too strict and doomed to fail. Here are some achievable money resolutions for 2018!
Spend less. Do you often wonder where all of your money is going? Do shopping trips leave you feeling financially anxious and worrisome? Are you spending your money in a way that genuinely supports your values? You should make it your 2018 Money Resolution to gain control of your spending. In order to do this, you’ll need to automate your finances and begin tracking your expenses. I’m not saying you have to narrow it down to every penny (although, it won’t be a bad thing if you do!), but you should always have a general idea of how much money you’ll have left over once your bills and other necessities are taken care of. After you have paid proper attention to your essential expenses (and set some aside in your savings,) then you are free spend.
Open a new savings account – and dedicate yourself to it. It’s one thing to open a savings account with hopes of reaching your savings goals, but it’s another thing to actually achieve those goals. The best way to start is to meet with one of SeaComm’s Financial Service Representatives, who can set up a fixed amount to be transferred to your savings on a weekly or bi-weekly basis. Once your savings has been opened and you have established an automatic transfer, it is your job to refrain from dipping into this savings. In order to help you achieve your 2018 money resolution, here are 7 Ways to help you stop dipping into your savings account.
Get control of your debt. Almost everybody has debt, and that’s nothing to be ashamed of. What’s most important is how you choose to reduce your debt. Are you someone who makes minimum payments on your loans or credit cards? If so, you might want to reevaluate your pay back methods, as paying the minimum only prolongs a debt payoff strategy. It’s important to make payments that exceed the minimum amount due, while also leaving yourself with enough funds to apply to other debts and savings. Check out these 10 easy ways to pay off debt to help you achieve your 2018 money resolution!