New Year, New You, New Financial Habits
The new year is a time of fresh beginnings and initiatives and in many ways a clean slate. It is also an ideal time to take a look at how your finances look as you head into 2020. Understanding what worked for you this year, what didn’t and the areas you need help with most; ensures you truly get a fresh chance at financial success and comfort this year.
Whether the 2019 holidays took a toll on your finances, you feel like you run out of money before you run out of the month or you simply need to spend less time and energy stressing about your finances, these tips for 2020 will help you make your own fresh start.
5 Ways to Get a Fresh Financial Start in 2020
- Begin with a Budget: You’ll be preparing your tax returns soon and will be getting year-end statements from your bank and other sources. Use these to create a budget for 2020, breaking things down by month and getting a good understanding of what to expect each month. Building a simple and accurate budget is one of the best financial goals for 2020; this tool will let you take charge of your finances and discover where your money is really going.
- Review 2019’s surprises: Not all surprises are good ones, and if you have events or issues that caused you to overspend or overcommit in 2019 a careful review of the year will reveal them. Car troubles, health issues, and other large expenditures could be one time things – or could continue to occur if you still have the same old car or you haven’t changed your lifestyle.
- Create a safety net: One of the best things you can do for your financial well being and future is to create a savings account safety net. Even a few hundred dollars in savings can help you avoid disaster if an emergency or unexpected expense comes up.
- Get informed about your credit: Credit scores are more transparent now than ever before and having a solid score not only allows you to access more options if you have to borrow, it can lower your costs in other areas, too. From your car insurance to your ability to purchase that car in the first place, your credit rating will play a big role in your success in 2020. If you discover your score isn’t where it should be, take steps to improve it now and you’ll benefit later.
- Work on your debt: If you have credit cards, loans and other expenses that you pay interest on, consider paying more than the minimum to lower your overall costs – and to pay these off more swiftly. This will free up credit if you need it in an emergency, and can also help increase your credit score – when you use less of your available credit, your score will naturally go up.
Getting a handle on where you stand and how your finances performed in 2019 will help you look ahead and make wise decisions in the year to come. Money 4 You Payday Loans is locally owned and operated, and we know that life can throw you curveballs – often at the most inopportune time. If you need quick cash, contact Money 4 You Payday Loans to get started on your loan application process. Make 2020 your best year yet by paying careful attention to the points above and taking a proactive stance on your finances and your future.