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.
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.