Smart Financial Resolutions for Your New Year | Cleveland Bradley County Teachers Federal Credit Union

While there is never a bad time to set actionable goals to become more financially organized, the changing of the calendar year is often a great catalyst for making sure you have everything in order. If you are thinking about making a New Year’s resolution related to money, you are not alone!

Financial resolutions are extremely common amongst Americans every year, and are a great way to get things back on track with your money management.

If you are considering making a money-related New Year’s resolution and are not sure where to start, you are in the right place! Get some great ideas below so you can get started on your own path to financial confidence in the upcoming year.

Ideas for Financially Oriented New Year’s Resolutions

Set (and stick to) a budget. If you do not yet have a budget set, this is a great idea for a New Year’s resolution. A proper budget can help you reach personal savings goals, hit new financial milestones and build your net worth over time. Budgets can be set up daily, weekly or monthly and can provide you with excellent guidelines for ensuring your cash flow is right on track for whatever it is you would like to achieve.

Create an emergency fund. An emergency fund is a fantastic idea if you are looking to become more financially confident. Experts recommend having three to six months’ worth of money in emergency cash, but do not let that number overwhelm you. Starting small can still allow you to save exponentially over time and be sure you can cover any sudden expenses that might pop up.

Participate in a savings challenge. There are plenty of fun savings challenges out there that can give you a boost to your bottom line. Whether you decide to start putting all your change in a jar for the year or prefer to participate in a No Spend Challenge or a compounding saving program, this is a fun and effective New Year’s resolution to look forward to this year.

If you need assistance with organizing your finances, let us help! We have a variety of accounts that can work for your needs. Contact us today to learn more about what we have to offer.