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Financial Resolutions For The New Year

Published by Scott Hershman

There are days left in 2017. Now is the time to start reflecting on the good and bad choices we made in 2017 in order to better ourselves in 2018. The new year is an excellent time to start making solid financial resolutions to help you get closer to your money goals. Whether you want to increase your retirement savings or set money aside for a home, our team at your currency exchange Mount Prospect IL location, has created a list of financial resolutions you may want to consider.

Know What You Want

Sit down and think about a clear, concise financial goal for 2018. Write it down in your phone or somewhere in your house as a constant reminder. It isn’t good enough to say “I want to pay off my credit card”. Come up with a plan of how you are going to do this. For example, I am going to dedicate 10% off each paycheck toward paying off my credit card.

Prioritize Your Debt

It’s important to keep in mind that not all debt is equal. Make a list of your liabilities and their interest rate. Those with the highest interest rates should be paid off first. It does no good to invest your money when you are paying an interest rate on a credit card of 19%.

Read A Finance Book

If you want to learn a new trade like cooking, you read a cookbook. Reading a few books on finance this year could teach you how to value investments, setup a portfolio, and manage your debt.

Collect Change

If you pay for something with cash and there is change leftover, collect the change. Keep a change jar at home or on your desk at work and toss the change. Think of it like your piggyback for adults. Use this money to pay down your debt, buy stock bonds, or just treat yourself. Head into your local currency exchange in Mount Prospect IL to buy yourself a Prepaid Visa Debit Card.

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