The new year is a great time for making positive changes in your life. Starting off on the right note financially in 2018 can set the tone for your entire year. One way to have a positive transition into 2018 is reflecting on the past year and identifying where you can improve. So, put your best foot forward and reevaluate your finances for 2018.
Reevaluate Your Finances for 2018
By taking a look back at how you did financially in 2017, you can better equip yourself to do even better in the new year. Whether 2017 was a year filled with financial success, or had a lot of low points, there is always room for improvement. Deciding to reevaluate your finances doesn’t have to mean a complete overhaul of your budget or get out of debt plan. Reevaluating your finances can be as simple as noting what is working and pinpointing a few areas where you can do better. Here are some questions to ask yourself when reevaluating your finances:
- Do you have a budget?
- Are you able to put money aside into savings?
- Do you know where your money is going?
- Are there areas where you could cut spending back?
- Do you contribute to an emergency fund?
- Do you have financial goals?
- Are you thinking of expanding your family?
- Do you often struggle to make ends meet?
- Do you have a retirement fund?
- Are you going to buy or sell a home?
- Do you have consumer debt?
- Are you accountable with your money?
- Do you and your partner often fight over finances?
- Can you financially sustain your current lifestyle?
- Do you find yourself over-charging on your credit cards or reaching your credit limit?
- Are you happy with your financial situation?
If you decide to reevaluate your finances, consider asking yourself these questions. You may find you’re doing great financially and continue on the same path. If you see some signs that you could be in financial trouble, consider seeking professional credit counseling help.
If you need additional help working through your current finances and goal planning, speak to a credit counselor today at 800-769-3571.