Financial Resolutions for the New Year
It’s amazing how fast a year can go by when you are busy! We are just about ready to ring in 2017, and I wanted to share some of my financial resolutions for the new year with you.
To be honest, I usually have a hard time taking New Year’s resolutions seriously. Whenever I make one and don’t stick to it, I get annoyed and essentially forget about the resolution. By mid-January, I am usually telling myself “maybe next year”. This year is going to be different – instead of the “maybe next year” belief, I am adopting the mantra of “keep trying!” My resolution is to stop throwing away resolutions! I think that a lot of people might relate to this situation, and hopefully this will inspire them to keep working at their goals for 2017.
I have a list in my head of what I want to do in 2017 that ranges from being a less picky, healthier eater, to taking extra classes towards my graduate degree. Within this list of resolutions are quite a few that relate to money.
Over the past few years, I like to think I have become more financially savvy but there is always room for improvement. One of my bosses might tell you that when I started this job, I had no idea what my credit score was. Now, I can tell you how to boost your credit score, what might bring it down, and almost everything in between. One of my financial resolutions is to keep improving my financial literacy. Learning more has helped me personally with my money, and I have even been able to go out and teach people in the community what I’ve learned.
Everyone should try to learn more about being smart with their money. Youdon’t have to work at a credit union to care about the topic. There are a lot of options – blogs, the news, books, classes, and more. It never hurts to learn something new, and this is definitely a resolution I can keep up with.
Another financial resolution I have is to stay out of debt. This past year, my goal was to pay off as much as I could, and I ended up paying off quite a few credit cards (more than I care to admit I had). I also made a huge dent in the balance of my student loans. In 2017, I want to keep doing that, and not create any more debt for myself.
Saying I want to become debt free in 2017 was my first thought, but it isn’trealistic. I can’t pay off my car and student loans all in one year, so I don’t want to make a resolution that I can’t follow through with. Using credit cards as little as possible will help me manage my debt.
My final financial resolution, and probably one that is most important to me, is to save more money. As you may have read in our many other blogs on the Money Mill, there are tons of ways to save money. I want to save a lot of money in 2017 so I can take steps towards buying my first home. This year, I won’t let money burn a hole in my pocket like I sometimes do, which will help my savings account grow. Less shopping trips will happen, and more coffees will be made at home. These little changes really add up, as I’ve already learned!
I hope that next December I can write another blog post to follow up with this one and tell you what I learned, that I paid off more debt, and that I saved a lot of money. I plan on sticking with these goals and not giving up on them. Trying your best to reach your resolutions is better than not having one at all.
If you would like to share your New Year’s resolutions, please leave them in the comments!