Did you know that over 30% of Americans set financial resolutions each year, but only 8% of those people actually achieve them? With enough willpower you can stay on the track to reaching your goals. If you need a little help staying on that track, take a look at this list.
Make sure your goals are attainable. You can’t expect to be successful unless the goals you set are realistic. If the goal is to pay off your credit card or buy an expensive plane ticket, come up with an action plan that you will be able to manage throughout the year.
Be careful with credit card spending. You aren’t alone if you have the temptation to charge every purchase you make. However, debt can sneak up on you, and it is much easier to accumulate than it is to pay off. Find a credit card with a good rewards program so you can use points for future purchases, and pay off your balance in full whenever possible.
Always have a backup plan. Emergencies happen. Setting funds aside into a savings account is essential, as we cannot predict when certain expenses will pop up. Start small, and try to set aside more and more each month to get into the habit. You will be grateful if and when something unexpected occurs.
Start on your taxes early. Gather all necessary documents to work on your taxes ahead of time rather than waiting right up until the due date. By preparing early, you can take your time and maximize your return.
Save where you can. Whether it’s choosing to read one night a week instead of binge watching your favorite show on DVR, making coffee at home instead of making a daily Starbucks trip or riding your bike to work rather than driving, find areas in your life where it would be easy for you to save. Even though it may seem like a small amount of money, you could find an extra thousand dollars or so left in your bank account at the end of the year.
All of these things are manageable so long as you focus on the end goal and stay motivated. Here’s to a financially successful year for all!
Courtesy of US News
http://money.usnews.com/money/blogs/my-money/2013/12/23/8-money-saving-tips-for-2014
