12 Best Financial Resolutions For 2017
Why? Because we've compiled a list of the top resolutions and, we've provided expert advice on how to improve your chances for success.
We're not here to preach, instead we're hoping that with the information here you can accomplish at least a couple of your most important resolutions...
1. Paying Off Credit Card Debt(s)
Credit card debt costs us hundreds, if not thousands of dollars each year, so consider putting this at the top of your 2017 resolutions.
Here's how to speed up the process: It's simple... do whatever you can to lower your interest payments. If you're paying 10-20% interest on your loans, how will you ever start actually chipping away at the debt?
The best way to reduce your interest is with a personal loan that offers you a much lower rate. By spending a few minutes to calculate your savings on LendingTree.com, you can refinance your debt at rates as low as 5.99% APR... and save thousands in the process. All for free.
Take a look at how much you could save with the calculator below.
Refinance Your Debt
Potential Savings
$71
Per Month$4,253
In Interest2. Creating A New Income Stream
The most important part here is that your quality of life and free time is minimally interrupted so that you don’t even notice. Sure you could get a side job, but who wants to work all day?
A good option: Try InboxDollars. They'll give you $5 just for signing up, and then ~$10 for every 30 minutes of video watching, surveys, etc.
This is our favorite option because they pay you via check, and because a lot of things we did for the cash were actually pretty fun!
InboxDollars
3. Opening An IRA
We're sure you've heard that the sooner you start saving for retirement, the better off you'll be.
Here's how to ensure success: You need to make a commitment to get over the hump. Think of it like putting your money where your mouth is. Instead of telling yourself you're going to open an IRA, do it right this second and put in $10, $50, whatever you can afford. You don't even have to invest it right now, but putting the money in helps you get over that hump.
4. Finally Asking For That Raise
According to Salary.com, the best time to ask for a raise is right now.2 The reasoning is that companies are finalizing their budgets and if the year has been a good year for your company, then your chances of success couldn't be better.
Pro Tip: Go above and beyond when asking. Put together a PowerPoint presentation showing your accomplishments and what you plan to do for the company in the upcoming year.
Empathize with your boss. If they see you as key to their 2017 success, they're not going to want to lose you. If you're unsuccessful, start preparing that résumé because January is one of the best times to start a new job search.3
5. Actually Saving Money
Likely at the top of everyone's list is saving money, but it's much easier said than done. The biggest misstep we've found is a lack of "mental separation" in our finances.
If you really want to save: You need to perform a mental trick, and make yourself think you have no more money to spend. The best way to do that, is to open a separate savings account that is hard to reach—out of sight, out of mind.
6. Improving Your Credit Score
It takes time, but improving your credit score is worth it. This number follows you throughout your life and impacts every big financial decision.
Give yourself a head start: Make sure to use one of the many free tools out there to know your score, and to set alerts for changes. To name a few, there is CreditKarma, Credit.com, and MyLendingTree. Our favorite is MyLendingTree because we love their personalized tips for improving your score.
Check It Now
Conclusion
This is the year you are going to change your finances, and it starts right now. Choose your most important resolutions below and take action.
You don't want to spend another year wasting time when you could be building your financial future.
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