It’s a new year and a new chance to improve. Specifically, you may want to recover from a year of financial loss or struggle. Moving forward with better intentions and goals can be really motivating. Here are some examples of financial New Year’s resolutions to consider adopting.
3 Examples of Financial New Year’s Resolutions
A resolution is defined as “a firm decision to do or not to do something.” This is a little different than a goal- it’s more big picture thinking. However, a resolution can influence the kind of goals you make. Whether you want to better manage debt or start saving, it’s a perfect time to start. Here are a few financial New Year’s resolutions and some goals that could go along with them.
Take Control of Your Financial Ship
If you have been wanting to do more with your money or get out of debt, make it one of your financial New Year’s resolutions. Just commit! This means setting and following a budget. Plus, you should think about some short, medium and long-term goals to accomplish. Organizing your paperwork, accounts and debt could be another worthwhile goal. Finally, address any bad behaviors that are causing unnecessary consumer debt. This needs to happen before you can think of eliminating it all.
Find Happiness in Something Besides Money
Whether it’s retail therapy or always wanting better and better luxury items, there’s a point where money has taken over. If money is controlling or you are hoping it will regulate your life and emotions, it’s time to make a change. This is a good New Year’s resolution to find balance and perspective on spending. Plus, eliminating debt, or any other goal, will feel terrific.
Make Giving Part of Your Finances
Have you ever donated to charity? Not only does it have positive tax implications, it also feels great to help others in need. Another benefit to giving is the financial freedom you may find. Once you release your grip over every cent, it can be very freeing. This also means you have used your budget well to allocate funds for this purpose. Quite an accomplishment!
These are just a few examples of financial New Year’s resolutions and some steps to take to get there.