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.
When it comes to New Year's resolutions that are designed to help one's finances, building an emergency savings account is among the smartest. After all, you may not know when you'll be in a situation that requires immediate attention. Furthermore, it's possible that you'll have to cover a considerable sum, which can be difficult to do out of pocket. This is one of the many resolutions that names like Bob Jain will suggest that you make.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
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.
Perhaps the best New Year's resolution that one can make, as far as finances are concerned, is by boosting their credit score. If you have been having trouble obtaining a loan or opening a new credit card, it's possible that a low score is to blame. You can improve this by making smarter purchases, only buying what you know you can afford. This will allow to pay more affordable monthly bills, which will go a long way in improving your score.
When it comes to New Year's resolutions that are designed to help one's finances, building an emergency savings account is among the smartest. After all, you may not know when you'll be in a situation that requires immediate attention. Furthermore, it's possible that you'll have to cover a considerable sum, which can be difficult to do out of pocket. This is one of the many resolutions that names like Bob Jain will suggest that you make.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
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.
Perhaps the best New Year's resolution that one can make, as far as finances are concerned, is by boosting their credit score. If you have been having trouble obtaining a loan or opening a new credit card, it's possible that a low score is to blame. You can improve this by making smarter purchases, only buying what you know you can afford. This will allow to pay more affordable monthly bills, which will go a long way in improving your score.