New Year's resolutions have varying levels of success. While many people are able to follow through with them, others are less ambitious, oftentimes leaving them by the wayside. This is especially true when it comes to finance, which is an aspect of life that many people can use help with. As we close out 2018, here are some of the most common New Year's resolutions that Robert Jain will be able to outline.
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.
You can save money next year by being healthier, too. This may seem more like an overall quality of life move, as opposed to a solely financial one, but it's important to note that the ways we stay in shape don't have to be overly expensive. For example, instead of paying for a gym membership on a monthly basis, consider doing exercises at home. By making this slight adjustment, you'll be able to cut costs in no time.
Lastly, make it a point to improve your credit score in 2019. There are many people that struggle with this, but boosting your score doesn't have to be as difficult as it appears. One of the ways to go about this endeavor is by paying any debts that you have. If a particular debt is outstanding, it's in your best interest to cover this earlier. Every positive change that you make, from a credit standpoint, will be reflected in a higher 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.
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.
You can save money next year by being healthier, too. This may seem more like an overall quality of life move, as opposed to a solely financial one, but it's important to note that the ways we stay in shape don't have to be overly expensive. For example, instead of paying for a gym membership on a monthly basis, consider doing exercises at home. By making this slight adjustment, you'll be able to cut costs in no time.
Lastly, make it a point to improve your credit score in 2019. There are many people that struggle with this, but boosting your score doesn't have to be as difficult as it appears. One of the ways to go about this endeavor is by paying any debts that you have. If a particular debt is outstanding, it's in your best interest to cover this earlier. Every positive change that you make, from a credit standpoint, will be reflected in a higher score.
No comments:
Post a Comment