The new year is always a time of great hope and expectation – we’re all itching to get started on changing our lives for the better. And why not? Aiming for a little self-improvement never hurt anyone.
One area that a lot of us are looking to make some changes in is our finances, but sometimes coming up with just the right goals can be tough. To help you out, we came up with fourteen financial resolutions for 2014 for you to choose from.
Of course, it would be very difficult to tackle all fourteen, but that’s not the idea – the idea is to use this list to decide on a few goals that are important to you and go after them.
Ready to get started on making 2014 your best financial year yet? Without further ado, here are fourteen financial goals to consider this year:
1. Create a realistic budget; managing your money is easier when you know where it’s going. Creating a budget is the first step!
2. Pay off your credit card; credit card debt is costly, which means that paying it off is one of the best moves you can make.
3. Build an emergency fund; you never know what the future holds, so be ready with three to six months of expenses sitting in the bank.
4. Enroll in your company’s 401(k); if you’ve been putting this off, now is the time to start saving for retirement, especially if your company offers a match. Don’t pass on free money!
5. Start saving for a house; interest rates are still low, so saving for a house is a worthy financial goal for 2014.
6. Cut an expense; do you really need your gym membership? What about cable? Cutting an expense will create more room in your budget for saving and investing.
7. Max out your Roth IRA; a Roth is a great, tax-free way to save for retirement!
8. Pull your credit report; if you’re not already in the habit of checking your credit report at least once a year, start in 2014. It’s important to scan it annually for errors and fraudulent activity.
9. Learn about investing; investing intimidates a lot of people, so learning as much as you can is the best way to get started.
10. Make a will; many people overlook this important financial responsibility, so if you don’t have a will, make one this year.
11. Accelerate your mortgage payments; a life without house payments can come sooner than you think if you start making paying extra now!
12. Pay off your student loans; don’t let your school loans follow you into middle adulthood. Kick them to the curb – or at least pay them down substantially – in 2014.
13. Improve your credit score; if your credit score isn’t ideal, work on decreasing debt and paying your bills on time this year. You’ll be surprised at how fast you’ll make progress!
14. Ask for a raise; accomplishing financial goals is easier when you have more money to work with. Ask your boss for a raise and use it to save or pay off debt.
Here’s to making 2014 healthy, happy, and prosperous!