Drawing near is the time where we struggle to remember to write a new number on the date, to decide whether we will call it “twenty-fifteen” or “two thousand and fifteen,” and to mull over the changes we want to make for the upcoming year. If this year felt a little less than perfect in your budget realm, we've got some small, but effective, changes you might want to consider when you’re planning your resolutions:
Cut the Fat: Whether you’re giving up cable, switching cell phone service providers, tweaking your grocery budget or learning to make your own soy vanilla lattes, there are always small places to tweak your spending habits. The difficult, but most important, part about this process is learning what you’re really willing to live without. If you can’t stand to live without your morning caffeine fix, accept it and decide to cut out something else; otherwise, you’ll end up spending cash from other places of your budget and finding yourself in a bigger hole than before.
Pay Yourself First: Doesn't matter if it’s a couple dollars out of every paycheck, or a hefty lump sum at the beginning of each month, saving money for emergencies (and not-so-urgent goals) will someday turn into a blessing. You may not think you can’t spare any money at all, and things might be very tight – but it’s also likely that there is change hiding in your car or couch cushions that you can use to start a jar fund. Add your spare change to that jar, and you’ll soon find yourself saving more than you could have realized!
Start a Conversation: For some people, thinking about money and talking about it with their significant other can be more stressful that the actual act of saving! This year, whether you need to make a plan with your spouse, or need stop ignoring your own financial fears, make a plan to address the hard issues that you've been avoiding. Typically, once you have a plan of attack, the things that scared you aren’t as intimidating as before.
When you start to make your resolutions, be sure to keep FCU in mind for your financial needs. Whether you’re going to tackle debt consolidation, or you’re finally going to make the jump into homeownership, we can help you get to your goals.
What’s your money resolution for 2015? Tell us in the comments below!
Like this article? Check out this similar article: “Money Advice from Our Founding Fathers”