We all are very happy to welcome a new year. For many Americans 2020 was a tough year financially. The new year is a great excuse for a fresh start. If you aren’t quite sure what type of resolution you will make this year, consider a financial one. Here are some good resolutions to consider:

Pay Off Your Credit Cards
Are you paying the minimum every month? Have you given any thought into how much interest you have actually been paying year over year? Make this the year you tackle your credit card debt. Paying off this debt will leave more money in your pocket. The easiest way to get these paid off is to list all your credit cards and start paying them off starting with the smallest balance to the largest. You could also do this based on interest rate, whatever works best for you. Once the debt on your first card is gone, take that payment amount and apply it to the next one so you are able to make an even bigger dent, faster. 

Build An Emergency Fund
One lesson we can all take with us into 2021, is that you really never know what the future holds. This makes having an emergency fund even more important. If life were to throw a curveball, would you be prepared? Make it a goal to set aside a little bit each month. Before you know it, you will have an emergency fund built that you can tap into if the unexpected were to happen.

Create a Budget
Do you actually know how much is coming in and how much is going out? A budget can help. If you don’t know how exactly you are spending your money, you will never be able to save.

Incorporate No Spend Days Into The Calendar
Do you buy a coffee daily or forgo bringing your lunch for take-out? Incorporate no spend days into your calendar. On your no spend day, don’t buy anything that isn’t necessary. Don’t shop, eat out or buy that coffee. You will be surprised with how much you can save by not doing this.

Learn More
One thing we can all use more of is financial literacy. It can be confusing. Make a commitment this year to learn more about what you don’t know. Set a goal to read a financial book each quarter or subscribe to a podcast. The more you know, the better your financial health will be.

Create A Plan for Your Financial Future
What are your goals? Where do you see yourself in five years? Make those goals a reality with a financial plan.