January is normally a time of resolutions and goal setting, but often finances are overlooked when making those resolutions and setting those goals. Some find financial goals difficult to make (and harder to keep!), but they don’t need to be. Here are 3 easy ways to meet your financial goals in 2017:
Pay yourself first. When I received my first paycheck, my mom told me to “pay myself first”. When she said it, I was extremely confused, but now, years later, it’s probably some of the best financial advice I’ve ever received. It simply means that before you pay all those bills for the month (power, water, mortgage/rent, student loans, etc.), pay yourself. Save first. Decide how much you can afford to save of the check and put it into your savings account. Once that’s done, pay your bills, and then the remaining amount is what you can spend for the month. Often if you wait until the end of the month to put your money in savings there simply isn’t any left.
Re-examine your bills. Every January my husband and I sit down and look at our bills. What can be cut? Is there anything we can do without? What bills look high? You’d be surprised how bills can creep upward through the year with you not even noticing. In just a few quick phone calls we were able to reduce our car insurance and cell phone bill, and we ended up eliminating the bill for our home phone altogether. Our power company was also able to make some suggestions on how to reduce our bill that have already paid off. These savings can often give you a little extra to stash in your savings account, emergency fund, or child’s college fund.
Find easier ways to save. If you’re anything like me, you have student loans. Although an absolutely essential investment into my future, I won’t lie, those loans rest heavy on my shoulders and I don’t want my kids to experience that weight. If you haven’t started a college fund for your kids, 2017 is the time and Florida Prepaid is the easiest way to do it. With several different plans to choose from – the 4 Year University Plan, 2 Year College Plan, 1 Year College Plan, and many more – there’s a option for every budget. You can even save on the application fee by using the code BLOG1617.
What are your financial goals in 2017? How do you plan to meet them?