Make 2016 your best year!

I see it happen every year. The clock chimes at 12 midnight and everyone breaks out in song.  They watch fireworks and toast that this year will be different from the year before.  Then they proceed to live their lives exactly as they did the year before and are soon facing the same financial problems.

Changes

It is certainly admirable to have wishes for a better year where all your financial goals are achieved. However, wishing and hoping won’t make you successful. It takes proper planning and determination in order to achieve your goals.

Unfortunately, many persons are facing January with debt as they might have overspent for the holidays. In fact some parties had huge price tags not to mention wardrobe and hairstyles created just for the occasion.

The best way to change your future is to make positive steps to ensure that you can eventually be debt free in the new year.

How can you make 2016 your best year?

Here are some tips!

Tips for having a better year

Start a savings plan. The best thing about  savings plans is that it’s never too late to start. Find a plan that works for you whether with a credit union or bank. They have many options to meet your needs.

Pay more than the minimum balance on credit card payments.
If you only pay the minimum balance you will always struggle to dig yourself out of debt.

Don’t spend more than you earn.
Well this goes without saying but some people try to impress others by buying things on credit they really can’t afford and should never have bought in the first place.

Shop smarter not harder. Don’t buy things you don’t need just because they are on sale. You should always ask yourself: Do I really need this item? If the answer is no, then walk away.

Create and Stick to a Budget. This is an important step in order to ensure that this year is your best year. A budget is basically a plan for how you spend your earnings. If it is properly done and followed then sit back and see how your savings will increase.

So what are your financial goals this year?

Let me use this opportunity to wish that you make 2016 your best year ever!

Teri Ann Renee Paisley

Gleaner Online Writer

Tags: budget