Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709

Five financial New Year's resolutions to follow

Losing weight seems to be the New Year's resolution that gets the most attention, but according to a recent news report, close to half of all New Year's resolutions involve improving finances.

If you are one of the millions of Americans who plans to make a New Year's resolution involving your finances, consider these ideas from the personal finance website WalletHub. 

Get up to speed. Take a good, hard look at your finances so that you understand exactly where you stand. You should make note of your assets, debts, monthly cash flow and statuses of all financial accounts.

Make a budget. Although it sounds basic, planning out a budget for the new year can help you meet your financial goals. It should list all of your incurring expenses from most to least important, WalletHub suggested, then compare your expenses list to your monthly income.

Set up automatic payments. Although you always want to keep an eye on the charges that are coming out of your account, setting up automatic payments can help you to avoid the fees and credit damage associated with late payments.

Start building a savings account. Before paying down debts, WalletHub advises setting aside a little money each paycheck to build an emergency savings fund that could tide you over for six months.

Begin to tackle debt. WalletHub advises to first tackle the debt with the highest interest balances while making minimum payments on the other debts. You may also consider working with a reputable debt negotiation service in your area.

If you stick with these New Year's resolutions in 2015, chances are that you will exit the year in a better place financially than you entered it. Happy New Year!

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6333 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.