The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
  • Building Wealth
  • Investing
  • Credit Scores
  • Student Loans
  • Paying for College
  • Saving Money
  • Real Estate
  • Credit Card Debt
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Get Help
    • Money Coach University™
    • Books
    • Financial Coaching
    • Speaking
    • The Money Coach Recommends™
  • Contact
No Result
View All Result
The Money Coach
No Result
View All Result

3 Great Financial New Year’s Resolutions

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Credit Scores
Reading Time: 2 mins read
new year's resolutions
9
SHARES
150
VIEWS
Share on FacebookShare on Twitter

Why wait until January 1st? It’s not too soon to come up with a New Year’s resolution for next year.

If you want to improve your personal finances, here are three money-management resolutions to make – and stick with – in the coming year.

Resolution #1: I Will Improve My Credit

Your credit rating is enormously important. It dictates a slew of areas of your financial life, determining the loans you can get, the interest rates you pay for credit, the rates you’ll pay for car insurance, and more.

Your credit even determines whether or not you can get a mortgage, rent an apartment or have to get a job.

If your FICO credit score isn’t at least 700 points, make a commitment to boosting your credit rating in the New Year.

If your credit score already does top the 700 mark, try to push it into the “Perfect Credit” range – anywhere between 760 and 850 points.

Resolution #2: I Will Get Out of Debt

Almost nothing holds you back financially as much as being bogged down with debt.

Having large debts – whether it’s credit card debt, massive student loans or an unaffordable mortgage – prevents you from reaching other goals and taking your finances to the next level.

If debt is sapping your economic health, make a game plan and get serious about chipping away that debt, bit by bit, until you become debt free.

Even if you don’t eliminate all your debt in 2013, you can at least make a resolution to take the steps necessary to eventually conquer your debt problems.

Resolution #3: I Will Save 1 to 3 Months’ of Expenses

One of the best ways to bolster your finances is to have a cash cushion and to plan for the unexpected. If you have no savings, it’s very difficult to deal with life’s emergencies and to get ahead.

Saving money is hard, even if you have the best of intentions. After all, so many kinds of things can pop up that cause you to dip into your hard-earned savings.

But until you learn to become a disciplined saver, it will be extremely hard, if not impossible, to start laying a foundation to building wealth.

If you’ve never been able to save even a week’s worth of pay, don’t pressure yourself and set unrealistic resolutions like saving a year’s salary.

But do set a stretch goal, like saving perhaps one to three months’ of expenses. With commitment and sacrifice, you can meet your savings resolution in 2013, setting yourself up for a better financial future.

Tags: new year resolutions
Previous Post

As PowerBall Jackpot Hits $425 Million, Be Careful What You Wish For

Next Post

How Much Over the Minimum Should Your Credit Card Payments Be?

Related Articles

protect your credit score
Credit Scores

How to Protect Your Credit Score After Job Loss 

by Lynnette Khalfani-Cox, The Money Coach
Best Way to Check Your Credit Score Using Apps
Credit Scores

The Best Way to Check Your Credit Score Using These 4 Apps

by Guest Blogger
Credit Scores

DTI or Debt-to-Income Ratio Explained

by Lynnette Khalfani-Cox, The Money Coach
4 Summertime Risks to Your Credit Score
Credit Scores

4 Summertime Risks to Your Credit Score

by Lynnette Khalfani-Cox, The Money Coach
credit score drop
Credit Scores

What to Do If Your Credit Score Drops Unexpectedly

by Lynnette Khalfani-Cox, The Money Coach
The Money Coach
Credit Scores

4 Credit Tips for National Get Smart About Credit Day

by Lynnette Khalfani-Cox, The Money Coach
credit score
Credit Scores

The Impact of Closed Accounts on Your Credit Score

by Lynnette Khalfani-Cox, The Money Coach
credit score changes in 2015
Credit Scores

Changes That May Impact Your Credit Score

by Lynnette Khalfani-Cox, The Money Coach
close credit card account
Credit Scores

Impact of Closing an Account on Your Credit Score

by Lynnette Khalfani-Cox, The Money Coach
Next Post
How Much Over the Minimum Should Your Credit Card Payments Be?

How Much Over the Minimum Should Your Credit Card Payments Be?

About

Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.

Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.

Quick Links

  • Money Coach University
  • Lynnette's Personal Site
  • The Money Coach Corporate Site
  • Video Portfolio
  • Privacy Policy

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2022 TheMoneyCoach.net, LLC. All Rights Reserved.

No Result
View All Result
  • Meet Lynnette
  • Money Coach University™
  • Books
  • Financial Coaching
  • Speaking
  • The Money Coach Recommends™
  • Media Kit
  • Contact

©2009-2021 TheMoneyCoach.net, LLC. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist