We wish you a very happy new year! The new year brings with it numerous opportunities. Opportunities to better yourself. Many of us turn to new year’s resolutions to give us the motivation to turn around our lives and become better. So if you are looking for a new year’s resolution that will help you uplift your life then your search is over.
What better time to start working on your financial health than the new year? Take up any of these financial new year’s resolutions and see the drastic change in your financial life by year-end.
- Start investing – Take it from anyone with financial expertise, investing is an extremely important part of a balanced financial lifestyle. Money left idle in the bank loses value. Thus it is important to put your money to work and generate income from it. And that can be done via investing. Investing indeed requires expertise and that’s where we come in. We can help you choose the right investment option and you can manage your investments with us too.
- Save a bigger portion of salary – This new year resolution is easier said than done. But it is not unachievable. All our financial worries stem from spending more than we can afford. One of the best ways to do this is to set up an automatic transfer from your salary account to another account that you dedicate for savings.
- Keep no credit card bills due – If you own a credit card you know the dilemmas of a credit card bill that is overdue. One helpful financial resolution can be to take care of your credit card bills head-on and not let them be overdue. It is better to take care of high-interest credit cards first. Set up a timeline for the payments and set up reminders for the same.
- Improve credit score – When applying for a credit card or loan your credit score plays a very important role. The first step in improving your credit score is checking it. Once you have your credit report you have in front of yourself a list of errors you can work on to improve the score. Some things you can do are pay your overdue bills, limit your inquiries of the credit score, and avoid taking on too much debt.
- Create a financial budget and stick to it – Budgeting is extremely important when it comes to managing personal finances. To create a budget firstly track your net income and after that track your spending. Once you have set a number to these set a goal you wish to achieve and make a plan to achieve it. And it is important to keep rechecking your budget and see if it is working out for you.
Pick any of the new year’s resolution above. Stick to it and see 2022 becoming the year of financial wellness for you! Happy New Year!