The new year is a great opportunity to improve your finance habits, and these six finance resolutions will set your year up for success.
Here are six easy finance moves to include in your new year resolutions. All of these moves will take just a few minutes each, and could save you a serious amount of money.
Get Your Credit Score
Your credit score is easy to track, and a great way to measure how you’re doing.
There is no better way to improve your credit score than by tracking it. Services like Credit Karma will track your credit score for free, and they’ll even notify you if your score changes.
Take a minute to quickly sign up, and start improving your score today.
Cancel Your Gym Membership
How much are you spending on gym memberships or classes? Whatever the costs, gym memberships are a waste of your money and time.
Instead of paying $32 for a SoulCycle class, you could ride a bike outside for free. Strength trainers could try video workouts like P90X.
Set Up Automated Savings
People always have a positive view of their future. They see themselves eating healthier, saving more, and working out more tomorrow.
In reality, everything gets pushed to the future instead of today. Take that bias out of the equation with automated savings. Put a portion of your paycheck to a brokerage or high yield savings account, and watch that money build over time.
Sell or Donate Your Stuff
We own way too much stuff. Dig through your closets and see how much joy that stuff gives you. If you don’t feel much, or you can’t remember the last time you used it, get rid of it.
Selling your old stuff for cash will declutter life, and make you more productive.
Fund Your 401k and IRA
Get a head start on your savings by funding your 401k or IRA. Everyone should have an IRA – they are free to set up and continue to grow tax free.
Take a couple minutes to set up an IRA today, and start funding it with automated savings!
Renegotiate Your Insurance
Insurance customers are too loyal, and insurance companies know it. They may be charging you above market.
NerdWallet has a great insurance comparison tool to make sure you’re getting the best price. Take a minute or two to make sure you’re getting the best price, and renegotiate your insurance if the prices are way off.
New Year Finance Moves – The Bottom Line
The new year is a great time to set resolutions, and your finances should be at the top of the list. Take a couple minutes to tackle these six finance moves, and cash in on that success for the rest of the year.