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Hey Girl, Hey!
The end of the year is quickly approaching and many already have their New Years Resolutions locked, loaded and ready for January, while others may still pondering on how this "New Year, New Me" thing is going to actually play out for them. Either way.... let's not forget some key financial resolutions we should all be making and keeping for the upcoming year.
Let's chat, girlfriend!
1. Create and Stick to a Budget!
I’m sure many of us have big plans for 2017, but there’s nothing better than having a solid financial plan, girlfriend.
Like perhaps you’re planning to move out on your own this year to finally gain your freedom and independence, or maybe you’ve made up in your mind that you just want to be a better money manager for you and your future. Or maybe... just maybe, you want to have a backup plan just in case that relationship you’re in right now, doesn’t work out... (hey, let’s just be honest!).
But whatever your plans are for the upcoming year, just please resolve to better educate yourself on where you stand financially by creating a well-detailed budget and sticking to it!
You’ll be amazed to see the places a good budget can take you!
RELATED: So What's This Thing Called "Budgeting" Anyway?
2. Save, Save, Save.
Did you know that at least 34% of American's do not even have $1 saved? Yes, it's true according to a 2016 survey by GoBankRates. So in other words, 34% of Americans will financially suffer in the event any altering life situation occurs.
This could literally mean losing your place to stay, having your car repossessed, not having food to feed you and your family, or worse! All because you didn’t set aside a little bit of money to plan for when life throws you a curveball.
So girlfriend, if you’re in this 34%, please resolve to open a savings account asap and begin throwing in there what you can. That means... if you have to skip a nail appointment here or there, or you have to give up the coffee house for a week or so, or vow to eat out only on the weekends… do what you gotta do to be able to stack money on a regular basis and not touch it!
It’s a necessity…. You will thank me later.
And for my girlfriends who already have a savings account and have a good amount stowed... way to go, girl! Now let’s take it to the next level in 2017… I’m talking thousands!
3. Create a Goal to Pay Down ‘X’ Amount of Debt.
First thing’s first, you really need to know how much debt you’re actually in before you can set a goal. Don’t be afraid of it because it’s important that you know the amount. Once you find out, take a deep breath, and know that everything is going to be okay.
At this point, I’d suggest creating a goal to pay down a realistic amount of debt based on what your budget allows. It’s okay to be aggressive with paying off debt, but just know that some “wanted” things may need to be sacrificed in order to realistically attain your goal.
So girlfriends, get those debt monsters (i.e. bill collectors) off your back in 2017 and feel that financial weight lift off your shoulders.
RELATED: How to Dig Out of Debt…
4. Clean Up Your Credit.
This goes hand in hand with paying off your debt. The more debt you pay off, the more negative items can come off your credit report, and the higher your score will go. It sounds fairly simple… but it definitely takes work. If you put in the effort, the result will be oh so rewarding.
Annnd while I’m on the subject… Please note that it is not necessary to pay a company to dispute items on your credit report(s) for you. All these companies do is send letters to creditors and/or debt collectors on your behalf, which is something you can do yourself… for free! There’s this thing called Google… that has tons of letter templates you can utilize to resolve different issues while keeping money in your pocketbook. The ultimate DIY!
RELATED: How to Improve Your Credit Score Now!
5. Eliminate a Bad Habit (or Two… or Three).
Look girlfriend… we all have our vices. There's emotional spenders, habitual swipers, consistent loaners, frequent borrowers, shopaholics, alcoholics, club-aholics, smokers, eating out-ers, and keeping up with the joneses kind of girls.
Ladies… please leave all of that in 2016. Whatever your financial bad habits are… resolve to reduce or straight-up eliminate those things altogether. It may be hard in the beginning, but trust me... it’ll do wonders for your budget!
See ya in 2017... Happy New Year!
Until Next Time,