5 New Year’s Resolutions to Improve your Budget
It’s the time of year where everyone is taking motivation to the top level, and you can too! Finances are a big part of your comfort level, so make your New Year’s resolution to improve your budget this year. Here are five New Year’s resolutions from your local bankruptcy attorney in Florida that will help you improve your budget.
Budget Resolutions from a Bankruptcy Attorney in Florida
1. Clear It Out
Clutter is the enemy of financial management. Get rid of the extra papers and junk mail that usually disguise your bills. Throw away paid bills that are over a few months old. Clear out some space, and you’ll be able to move on to resolution number two.
You should have one space that you designate for bills. A desk or table that you can sit at and go over your financial circumstances. This helps you to focus on your income and expenditures, and organize your payments without distraction.
3. Time Management
You should be setting aside some time each week to catch up on your current financial status. This time should be used to pay bills, set savings goals, and generally gauge your progress. If you set aside a little time each week, it won’t be so overwhelming when you start to pay bills.
Really take some time to look at your bills. Is there a service you are going through two companies for, but could get through one? Consolidation has a number of benefits. First, you are minimizing the amount of bills coming in, which can make it much easier to assess the amount going out. Second, many companies offer incentives or discounts when you get more than one service through them. The more you bundle, the more you save.
Consolidation is also a great idea with credit cards. Find out which credit card gives you the best rewards and perks. Then, pay your other credit cards with it and close the accounts. You’ll not only reap the rewards you deserve, you’ll be able to better manage one payment and possibly pay up that balance more quickly.
5. Go Digital
There are so many tools to help you budget, and apps to guide you along the way, that we will save that for a different article. But there are a couple of basic digitized methods that will help you out. The best place to start is to download a calendar onto your phone and computer. Google calendar is great, because you can share it with other members of your household. Put all of your bill due dates and even amounts into the calendar, and set reminders for the day prior to that bill when you get paid. This will help you easily know how much to set aside.