7 Simple Financial Resolutions for 2022
The new year is here! The beginning of a new year is a great time to think back on the past year, and look forward to what you want out of 2022. While there are a wide variety of resolutions you can make, financial resolutions are a great opportunity to set goals and intentions for what you want out of your financial life this year.
Think back on 2021. What did you not get to in 2021 that you want to start in the new year? What went wrong that you want to stop doing? What has been working well that you want to continue? These are great starting points for your personal resolutions. But as always, we are here to help. Here are a few simple New Year's resolutions we think might work for you:
Start and Emergency Fund
Not having money set aside can be stressful, even when there’s no emergency. Knowing that you have money put away if something does happen can put your mind at ease. We know saving money can be difficult, but if you don’t already have an emergency fund it is a great goal to start working towards. Even a little but every month can add up. You can even set up an automatic transfer through online banking so you can set it and forget it. It's an easy habit that will lead to big savings.
Pay a Debt
Becoming completely debt free is not exactly an attainable goal for most people. Think about your debt and income and decide what is a reasonable achievable goal for you and commit to it. Maybe it’s focusing more on eliminating one debt in particular, maybe it’s managing them all a little better. No matter what it is, setting a goal and committing to it will help you take a step in the right direction.
Check your Credit Report
If you’ve been avoiding even looking at your credit report (we have all been there) it might be time to finally take a good look at it and evaluate where you’re at. After that, you can start working towards improving it. Luckily our Online & Mobile banking features include SavvyMoney, which allows you to easily view your current score, score analysis, and score trends (over the length of time you have been enrolled), and more.
Create a Budget
The idea of a budget can feel scary to many people. Sitting down and looking at your spending and expenses can be really difficult and even scary. But it doesn’t have to be difficult, and it will help your relationship with your money in the long run. We are here to help you Budget Like a Boss. If you have made a budget that ended up not working out in the past, this is a perfect time to revisit that budget and create a new, more do-able plan for yourself.
Manage an Expense
Is there one particular expense in your life that is taking a toll on your budget? Frequent trips to the coffee shop, online shopping, too many subscription services, going out to eat too often, a membership you never use, insurance or a cell phone plan that’s costing too much, these frequent expenses add up fast. If you have an expense that is costing too much too often, make a resolution to cut back on or eliminate that one expense.
Learn Something New
If there’s a financial skill you’ve been meaning to learn or a topic you want to know more about, now is the time! Pick something, even if it’s just one thing, that you’d like to learn more about in your financial life and commit to doing it. Even watching a YouTube video or doing a quick Google search can be very helpful. We even have a wide variety of educational blogs available right here on our website!
Ask for Help When You Need It
Asking for help when you need it is already hard, and asking for help when it comes to money is even harder. But the truth is sometimes we all need a little help. If you find yourself struggling or confused this year, reach out to someone for help. And don’t be afraid to ask questions! No matter the time or the day, we are here for you 24/7. We have a variety of ways you can easily contact us any time, for whatever you need.
Wishing you a financially happy New Year!
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