When it comes to personal finances, the end of the year is a perfect moment to make resolutions and start new habits to make our Christmas wishes come true. Having more money or making the most of the money we have is completely in our hands, so this 2018 don’t forget these 4 ways to make your personal finances better:
Get rid of your debt
The best way to start a new year is by finishing this one on a good note, and for that reason you should add to your new year’s resolutions paying all your debts. The average balance per American adult with a credit card amounts for $5,047.00 USD; even when credit cards can be a great financing tool when used responsibly, they are the largest cause of personal debt.
This new year instead of giving into shopping sprees, try to settle all your outstanding debts: there is no better gift to yourself than some financial liberty.
Give savings a chance
It’s a very common advice to improve your financial situation: keep some money aside for whatever might come up. If you are not used to saving money, this year challenge yourself to change u. It doesn’t matter if you don’t have a specific reason to save, try saving for saving’s sake. Define a reasonable amount to save every month and start with a 6 months goal. Maybe after this period of time saving will become second nature to you, and then you can establish a detailed savings plan, with goals and specific objectives.
Cut down automatic payments
The last days of the year are the perfect time to get rid of everything we need to start the New Year with a clean slate; apply this principle to your personal finances. It can be anything: a gym membership that you never use, Spotify Premium, the Cable TV you keep paying for even when you only watch Netflix; or maybe a savings account you don’t use and is actually costing you money. We all have expenses we don’t need and can cut down.
Make New Year’s resolutions
Holidays are a great opportunity to dream about possibilities. What would you like to have or do this coming year? Using this dates to do some reflecting helps us start a new cycle with a clearer head and well defined objectives. Whether it is a trip, a new car, a better apartment, all your financial goals start with a dream.
Define what is it that you want for this New Year, and get your personal finances under control; as most things in life constant actions will take you a long distance.
December is a month where we are used to spend without thinking about the consequences, we only want to enjoy and live the moment. This year try something different: try one, or all, of our suggested ways to improve your personal finances, and start 2018 with your finances under control, not with financial hangover.
Glass is with you during the holidays to help you keep track of your expenses, and to make the most out of your money. To know where you stand financially at any moment, join Glass here, and start living in financial transparency.