FINANCIAL LITERACY: NEW YEAR’S RESOLUTIONS
A recent poll found that the top financial New Year’s Resolutions are:
- Paying down debt,
- Saving more and
- Spending less
In order to succeed you need a clear plan and to check your progress each month. Repetition is key to success when developing a new habit.
But how do you decide how much debt to pay down, how much to save and how to spend less each pay period? The answer is not one size fits all but it involves your unique set of values.
Once you figure out your plan a good idea would be to consider these items ‘fixed expenses’ and perhaps to make them automatic payments.
Good Luck!