New Year's resolutions have varying levels of success. While many people are able to follow through with them, others are less ambitious, oftentimes leaving them by the wayside. This is especially true when it comes to finance, which is an aspect of life that many people can use help with. As we close out 2018, here are some of the most common New Year's resolutions that Robert Jain will be able to outline.
When it comes to New Year's resolutions that are designed to help one's finances, building an emergency savings account is among the smartest. After all, you may not know when you'll be in a situation that requires immediate attention. Furthermore, it's possible that you'll have to cover a considerable sum, which can be difficult to do out of pocket. This is one of the many resolutions that names like Bob Jain will suggest that you make.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
Next, focus on becoming healthier. While this may not seem like a financial resolution, on the surface, you have to consider the costs that are often associated with a healthy way of life. A gym membership, for instance, can eat away at your bank account. The losses are especially noticeable if you don't go to the gym often. There are other ways to stay healthy, such as home exercising and eating properly, that won't cost nearly as much.
Finally, make a New Year's resolution to improve your credit score. If you've been noticing that your score has lowered, or simply remained stagnant, it may be time to make adjustments to your spending habits. For example, keep a credit card in good standing, paying what you owe on a monthly basis. If you can pay earlier than the due date, you'll be in better shape. The better your credit score is, the easier it will be to complete other financial objectives, such as obtaining a personal or business loan.
When it comes to New Year's resolutions that are designed to help one's finances, building an emergency savings account is among the smartest. After all, you may not know when you'll be in a situation that requires immediate attention. Furthermore, it's possible that you'll have to cover a considerable sum, which can be difficult to do out of pocket. This is one of the many resolutions that names like Bob Jain will suggest that you make.
Another New Year's resolution worth making is to contribute more of one's earnings to their retirement savings. Whether you have a 401(k) or simple IRA, it's important to build toward the future, which is where the aforementioned savings come into play. Perhaps you have been able to earn a raise last year; it makes perfect sense to contribute a certain amount to your retirement. Any additional amount that you can contribute will make a difference.
Next, focus on becoming healthier. While this may not seem like a financial resolution, on the surface, you have to consider the costs that are often associated with a healthy way of life. A gym membership, for instance, can eat away at your bank account. The losses are especially noticeable if you don't go to the gym often. There are other ways to stay healthy, such as home exercising and eating properly, that won't cost nearly as much.
Finally, make a New Year's resolution to improve your credit score. If you've been noticing that your score has lowered, or simply remained stagnant, it may be time to make adjustments to your spending habits. For example, keep a credit card in good standing, paying what you owe on a monthly basis. If you can pay earlier than the due date, you'll be in better shape. The better your credit score is, the easier it will be to complete other financial objectives, such as obtaining a personal or business loan.
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For more information about finance in general, kindly consult Bobby Jain.. This article, New Year's Resolutions, By Robert Jain, That Maintain Your Finances is available for free reprint.
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