10 financial promises that you will have time to execute before the New Year

New Year is coming, and with it - and the promise of new targets currently. But some of them you can start to perform more before the stroke of the chimes.

1. Decide what you want

You will not achieve success if you do not understand exactly what you want. Set specific targets for one and three years ahead. Want for the next six months to pay off credit card debt? Accumulate over five years for a down payment for an apartment? Write each goal and a rough plan to achieve it.

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2. Create a budget

It should be simple, realistic and flexible. Make your own budget, given their short-term and long-term goals, as well as their income and expenses. The process will be able to improve it, expanding or reducing any category of expenditure.

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3. Reduce costs by 5%

Consider how the following month, you can reduce costs at least 5%. I can finally give up the gym, which still do not go? Go to a cheaper tariff plan of mobile operator? Take with food at home for dinner? All of this together? It does not matter how much interest you will save and what you do begin to consciously change their financial habits.

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4. Do not take new loans

More loans - more interest payments, more stress, and fewer opportunities in the new year. Freeze your credit cards. Pay with cash if it helps you control costs.

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5. To deal with the existing debt

Once you have cut spending by 5%, direct the remaining funds for the payment of the accumulated debt. Go to business strategically: first pays loans with the highest interest rate.

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6. Open an individual retirement account

So you start to save for retirement and get a tax break. Do not put it off until later, it is better to take care of their future.

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7. To have a reserve fund

Life is unpredictable. Therefore, you should always have a reserve fund to cover in case of emergency living expenses for three to six months. Then you will not have to borrow, if you lose your job, become ill, or you will need to urgently repair the house or car.

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8. Start saving surrender

Each time, paying cash, do not waste delivery, and fold it into a piggy bank. By the end of the year you have accumulated a good amount that can be added to the reserve fund or retirement account.

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9. Seriously consider the possibility of part-time work

Improve the financial situation in two ways: spend less or earn more. And yet they can be combined. Think about what you could do after the main work, to earn extra income.

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10. Buy second-hand goods

Do not rush to buy new things. Look in thrift stores and second-hand: there you can find high-quality products and at the same time a good save.

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