You may be trying to recuperate from holiday spending (or over-spending) and thinking about adding financial goals to your New Year’s resolution. We have created a list of a few tips to help get you started off on the right foot.
Review Last Year’s Spending Habits:
This will allow you to set a realistic budget for necessities such as groceries, monthly bills, and rent or mortgage. You can then discover areas for improvement where over-spending happened. Look at your monthly bills and visit the company’s website for promotions, rebates, or discounts or explore other options to find the same services at a reduced rate.
Make a Budget:
After reviewing where you spent last year, and analyzed monthly bills, you can develop a realistic budget for needs and wants. By categorizing your expenses, you can allocate funds to go towards savings, a Christmas or vacation fund, and prevent over-spending.
Managing Debt:
Make paying down debt a goal. Consider ways to consolidate high-interest debts such as a Home Equity Line of Credit if you are a home owner or refinancing options on high-interest auto loans. Avoid creating new debts by managing your budget.
Invest Risk-Free:
A Certificate earns a fixed-rate dividend for a fixed period of time. Unlike investments in the stock market, your funds are not at risk. You can start investing with as little as $1,000.00 and terms as short as 12 months. You can use a certificate calculator to see how fast your investment will grow.
Start your new year with confidence by creating financial goals and you can rely on Tyndall to be here to help you achieve them. Whether you are looking to consolidate debt, repair credit, buying your first home, or anywhere in between, our team is prepared to help you be successful.