New Year’s resolutions may seem cliché but they are a great way to usher in a new beginning. Make some of those resolutions financial goals and start preparing yourself for the future.
Become debt free. Moving into the new year without the baggage of the year before is always a step in the right direction. Pay off some of those credit cards to start the year right.
Get a side job. Make a commitment and make more money by picking up some extra hours or getting a second job.
Start or add to savings. It is always a good idea to have a savings account. You never know when you may fall on hard times and will be in need of a cushion.
Set aside every 5-dollar bill. Have fun saving money with the five-dollar challenge. It’s simple! Every time you encounter a five-dollar bill, put it away in an envelope. It sounds like a small amount, but if you commit to it, you will have plenty of savings by the end of the year!
Cook more. Stop wasting money by eating out. Try cooking or having potlucks with your friends instead.
Monitor your credit score. Paying off your debt is one part of having good credit. Make the choice to stay on top of your credit, debts, and most importantly monitor your credit store.
Save all of your change. Clean out all of the change from the bottom of your backpack and put it in a jar. Every time you encounter change, add it to your stash! Although it’s just a few coins, it will add up to a pretty penny.
Make a plan. De-code what you’d like out of your money this year. Maybe it’s a new car or maybe it’s a new laptop. Make practical savings goals that will enable you get the things you need. Having a plan in place will keep you motivated.
Automate your savings. See if your job’s payroll allows you to have part of your pay put into a savings account. This takes the hassle out of remembering to set aside a specific amount for savings
Opt to participate in campus based activities. There are always exciting and free things to do around campus! Try attending some of the on-campus events this semester.
Start a savings check-in with your friends. Bring your friends on the journey to savings. Set a goal and hold each other accountable as you move throughout the semester.
Keep track of your spending. How often are you stopping for cups of expensive coffee? How many times did you order something online this week? Limit yourself to a certain amount of miscellaneous expenses each month and you’ll see how much money you’ll end up saving.
Manage your subscriptions. It’s easy to get reeled into all of the different monthly subscriptions available online. Before you know it, you’ll be ten subscriptions deep! This year look into finding deals. More often than not, your favorite subscriptions have partnerships with other brands you love.
Be realistic. While you may have a goal to be debt free or make a big purchase, be realistic. It doesn’t take one day to fix your credit or save enough for a car. Be patient and consistent and all your resolutions will come true.