In 2017, I resolve to…
What is your resolution? Before we get into that, what was your resolution last year? Or the year before that? Did you keep it?
Every year at this time, we put way too much pressure on ourselves to achieve goals that are often out of reach. Who said your resolution had to be earth-shattering? Keep it simple this year and resolve to change the tiny financial things that can make a big difference.
Don’t miss a payment. We harp on this over and over again, but the biggest factor in your credit score is payment history. It accounts for a whopping 35%! Don’t miss a payment on your credit cards, your car loan, your mortgage, student loan… just don’t miss a payment. Even if you only pay the minimum, you’ll be surprised by how much it improves your credit score.
Kill the coffee. Stop spending $5 a day on that latte from the coffee shop. Dust off that old coffee maker and brew your own cup of joe. $5 doesn’t seem like much but it adds up quickly. $5 every day X 365 days in a year and you’ve effectively spent almost $2,000 in 2017. Don’t want to make your own coffee? Most offices give their employees free coffee. Take advantage of those benefits!
Go on a fast food fast. Fast food, much like that expensive latte, seems cheap at first but will add up over time. Start taking your lunch to work. It’s healthier and much cheaper. If it seems like a pretty drastic change, start by cutting it down to one day a week. You will still notice a change in your account balance and the way you feel.
Cut the Cord. In our previous blog, we talked about eliminating your cable in favor of streaming television options. You can save up to $50 a month on your bill and still maintain a variety of television options.
Don’t put too much pressure on yourself. We’re all human. Keep your resolution light this year and make your goals attainable in 2017.