5 Financial Resolutions for the New Year
Happy (almost) New Year! With 2018 right around the corner, we are offering five financial resolutions to help you to the path of financial freedom.
Debt comes in different shapes and sizes - and not all debt is the same. Start the New Year off by setting aside an hour to map out how you will diminish your debt. This probably sounds so exciting you can barely stand it, but it will pay off (literally). Pay off debt with high interest rates first. Need motivation? Calculate how much extra you would pay if you paid only the minimum and didn't rack up more debt. Debt consolidation can also be a great option if you don't have to pay a fee, and it will decrease the likelihood of missing a payment.
'Tis the season! Set aside some money from each paycheck to contribute to your favorite nonprofit. Don't have a favorite organization? Visit some local shelters and learn about their residents and their mission. Even $10 per paycheck can help impact someone's life. And, if that doesn't convince you to give, then I don't know what will.
What do you really want in 2018? A new car? Family vacation? A remodel? Make it happen. Find out how much it will cost and how much you need to save to make your dream a reality. Maybe it will take a couple years, but when you finally purchase a new car or you're able to afford a trip to Europe, all the saving will be worth it.
Make some extra money! If you're savvy at social media - use your skill to help a local business out. Driving for Uber or Lyft is a quick way to make extra money. Offer to babysit for a couple nights a week or tutor a local student. Extra money could help you diminish your debt or help you afford you that new car you've been dreaming about for years.
Easier said than done. Save your money. There's this convenient service U.S. Eagle offers completely free of charge called 'automated savings'. Basically, you can determine a set amount to go into your savings account as often as you want. For example, if you want to set aside $100 into savings every month and you get paid biweekly, visit or call your friendly U.S. Eagle representative, and they will automate your savings so that every paycheck, $50 will go into your savings account. Out of sight and out of mind.