Von Goethe wrote, "Many people take no care of their money 'til they come nearly to the end of it ..." The new year is time to create new resolutions and revisit old ones. One-quarter (25 percent) of Americans want to spend less and save more money as part of their resolutions, according to Nielsen. Unfortunately, far too many people break their promise of becoming more fiscally responsible. When it comes to your wallet, it's key to be disciplined and have a good game plan. Here are ways to do just that and have a prosperous year.
Moreover, you should be realistic when creating your budget and to remove non-essential items from your buying list. Non-essential spending usually arises from impulse shopping. It is comprised of things that don't add much value to your life over the long-term and that end up as junk in your garage.
Most Americans want good credit. A 2016 Credit Confidence Study by Capital One found that 86 percent of respondents say they want to increase their credit score while 82 percent say they're willing to do what it takes to improve their score. How does this metric improve your finances?
Your credit score affects your ability to get key loans such as car loan or home mortgage. Moreover, your credit profile impacts your borrowing costs and ability to pass a background check. Each year, you can access your credit report from the three major credit bureaus, as provided by federal law. There are free apps such as CreditWise that let you monitor your score without adverse consequences to your credit profile.
The key is stick to essentials. Level Money is an app that helps you track your key expenses and figure out what portion of your income you can responsibly spend.
Also, consider using scanning apps that let you use your smartphone's camera to scan your paper receipts, coupons and other purchase information. Storing your data in digital format gives you peace of mind when records are damaged or misplaced.
Most everyone wants to improve his or her finances. There's a roadmap to get there that includes creating a reasonable budget, monitoring your credit profile, using technology to get discounts and offers, and organizing your wallet. The new year is time to shore up your finances!
- Measure your money.
Moreover, you should be realistic when creating your budget and to remove non-essential items from your buying list. Non-essential spending usually arises from impulse shopping. It is comprised of things that don't add much value to your life over the long-term and that end up as junk in your garage.
- Pay on time and track your credit.
Most Americans want good credit. A 2016 Credit Confidence Study by Capital One found that 86 percent of respondents say they want to increase their credit score while 82 percent say they're willing to do what it takes to improve their score. How does this metric improve your finances?
Your credit score affects your ability to get key loans such as car loan or home mortgage. Moreover, your credit profile impacts your borrowing costs and ability to pass a background check. Each year, you can access your credit report from the three major credit bureaus, as provided by federal law. There are free apps such as CreditWise that let you monitor your score without adverse consequences to your credit profile.
- Leverage technology.
The key is stick to essentials. Level Money is an app that helps you track your key expenses and figure out what portion of your income you can responsibly spend.
- Digitize and be organized.
Also, consider using scanning apps that let you use your smartphone's camera to scan your paper receipts, coupons and other purchase information. Storing your data in digital format gives you peace of mind when records are damaged or misplaced.
Most everyone wants to improve his or her finances. There's a roadmap to get there that includes creating a reasonable budget, monitoring your credit profile, using technology to get discounts and offers, and organizing your wallet. The new year is time to shore up your finances!