It’s time for a fresh financial start to 2018! Along with some personal New Year resolutions you should resolve to get your bank account in order. That could mean different things to different people, but for most it will mean saving more and paying off debts. Here are 10 financial tips from the team at Broussard Poché, LLP on how to start fresh in 2018!
- Financial check-up:
How much in savings
How much debt
Pretty soon you’ll have a great feel for the next step and be able to make smart decisions.
- Automate Savings
Just take a little off the top every paycheck, and before you know it you’ll have a safety net. By automating the process, you are giving yourself one less worry for 2018.
- Start a Habit
Try putting an extra $20 towards your savings every month. Even this small amount will add up, plus it will create a healthy saving habit.
- Look for Discounts
You don’t know unless you ask. Get on the phone with your cable company, mobile service provider, car insurance, house insurance, etc. If you pay a monthly fee, call and ask for a better deal. Many of these companies are eager to keep customers and will play ball.
- Search Your Home
Find one thing to sell in your home, just one item will help you declutter. Social media sites like Facebook make it easy and safe to sell unwanted items.
- Pay Bills on Time
Late fees are wasted money and in many cases, can hurt your credit score. If you’re missing deadlines, automate the payments or set up reminders.
- Get a side gig
A lot of freelance work can be found online these days. Or maybe you are crafty and make soap or scarfs on the side? Try cashing in a bit on your hobbies!
- 401(k) Contributions
Consider this an extension of your resolution to save more. Set your contribution to the max for 2018 and if you are self-employed, make sure you are contributing to an IRA or SEP.
- Check Your Credit Report
Many banks now offer this as an option, but you can also go to AnnualCreditReport.com to make sure everything is on the up and up.
- Insurance policies
Make sure everything is up to date. Do you have too much coverage? Did you sell something last year? Now is a great time to check.
These are just a few ways you can start 2018 off on the right financial foot! Check back with our Broussard Poché, LLP blog regularly throughout the year for more tips.