New Year’s Resolutions: Get Your Finances in Shape for 2016


Hey Everyone!

2015 has definitely been an amazing one, but i’m ready to bring on the new year! It seems just like yesterday that I was given the opportunity to be your spokesperson and crazy enough, in less than 12 hours, it will be 2016. Where has the time gone? Since the new year is all about making goals, have you thought about what your New Year’s resolution will be? If not, make it a goal to be financially savvy. Here are 3 ways to kick off your new year the right way:

  1. 52 Week Money Challenge. Looking for an easy and efficient way to save money? Check out my blog post about the 52 Week Money Challenge! It’s all about saving a little more each week and by the end of the challenge you will have saved $1,378. Think of all the things you could do with that extra cash!
  2. Start Saving Now! I can’t emphasize it enough – Saving money is so important! You never know when an emergency can come about. Financial emergencies can come in the form of a job loss, significant medical expenses, home or auto repairs or something you’ve never dreamed of. The last thing you want to do is be forced to rely on credit cards or a loan which could simply increase the problem. Most experts agree that you should keep three to six months worth of your income set aside in your emergency fund. The most common reason for the need of an emergency fund is due to a sudden loss of income. If you feel it is difficult to begin saving, simply start with a small amount. Each month put aside $20 and as you learn to budget and eventually make more money, you can increase that dollar amount. To help you stay on track, set up an automatic transfer at your Credit Union. Each month you can automatically transfer a certain amount from your checking to your savings account for no fee at all!
  3.  Manage your Debt. Whether you borrowed to pay for college or to enhance your lifestyle, it is difficult to feel financially savvy if you are drowning in debt. Make a plan of action! Start by paying off debts with the highest interest rate first (e.g. credit cards). Also, try paying more than the minimum payment. You will be able to pay your loan off faster and the overall interest amount will decrease.
  4. Collect Your Change. Any time you make purchases with cash, only spend whole dollar amounts. If you go to the grocery store and your items come to $67.39, pay $70 in cash and pocket the change. The first thing you should do when you go home is throw the money in a large container. If you stick to this method and don’t spend any of the change, you are likely to save several hundreds dollars over the course of a year.


If none of these helped you out, I’m confident you will be able to make good decisions on your own! I wish you all a happy and successful New Year! Good luck and I will see you in 2016!

Until Next Time,

Jessica M.


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