We are nearing the final month of 2012 which means tons of holiday activities and preparations for the New Year. It is around this time of year that some people might start reflecting on what they would change about 2012 and how to improve themselves next year.
One of the most popular New Year’s resolutions out there is getting your finances in order. For some this might be a resolution that extends since this is something they may have started last year, for others it could be their number one priority come 2013. Why wait until January 1st though, get your finances in order today and start 2013 off on the right foot.
- Create a new budget – No matter if you already have a budget or not, for the New Year create another one. Some factors may have changed throughout the year so it’s best to start with a fresh budget.
- Set new financial goals – What would you like to financially do next year? Buy a home? Pay off your credit cards? Set realistic goals for next year. Saying you want to pay off your $10,000 credit card debts may not be realistic, but finding a debt consolidation plan might be. Consider this your financial new year’s resolutions.
- Set your strategy – Now that you have a budget together and your financial goals in place, time to get a strategy together. Plan on paying off debts? Consider using the snowball method. Want to start your own business? Start looking into start-up business loans and get a business plan together. Don’t just think about what you would like to do next year, start working toward achieving those goals.
- Switch banks – This year there were many changes in the banking system. It might be time to start shopping around for a new bank or credit union or go over what your current bank has to offer you. Free checking, debit cards with a points system, and refundable ATM fees are just a few things you could be missing out on.
- Draft a will – Writing a will may be the furthest thing from your mind, but it’s better to be prepared for anything. Not having a will could lead to many issues for those who are close to you including your immediate family members.
- Review your mortgage – Mortgage rates are at an all-time low so it’s a good time to review your options. Find out if your current mortgage is best for you or if it’s time to refinance your mortgage.
Although there are still 31 days left of 2012 to enjoy, it’s never too early to start preparing for a positive financial future. What are your financial goals for 2013?