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.
Another way to be financially conscious next year, believe it or not, is to become healthier. You can do this in a number of ways that won't require you to invest as much money. Instead of spending a monthly sum on a gym membership you may not use, start by exercising at home, preferably with a process that you can follow step by step. Additionally, include healthier foods that, when on sale, won't cost as much as you may think. These are just a few ways to enhance your quality of life in general.
Finally, make a New Year's resolution to improve your credit score. If you've been noticing that your score has lowered, or simply remained stagnant, it may be time to make adjustments to your spending habits. For example, keep a credit card in good standing, paying what you owe on a monthly basis. If you can pay earlier than the due date, you'll be in better shape. The better your credit score is, the easier it will be to complete other financial objectives, such as obtaining a personal or business loan.
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.
Another way to be financially conscious next year, believe it or not, is to become healthier. You can do this in a number of ways that won't require you to invest as much money. Instead of spending a monthly sum on a gym membership you may not use, start by exercising at home, preferably with a process that you can follow step by step. Additionally, include healthier foods that, when on sale, won't cost as much as you may think. These are just a few ways to enhance your quality of life in general.
Finally, make a New Year's resolution to improve your credit score. If you've been noticing that your score has lowered, or simply remained stagnant, it may be time to make adjustments to your spending habits. For example, keep a credit card in good standing, paying what you owe on a monthly basis. If you can pay earlier than the due date, you'll be in better shape. The better your credit score is, the easier it will be to complete other financial objectives, such as obtaining a personal or business loan.