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New Year’s resolution ideas to improve personal finance Create a monthly budget. Empower yourself to live debt-free by paying down high-interest debts such as creditcards. Improve your credit score. Become a mentor. Set savings goals. Set a target savings goal and consistently put money aside each month.
It can be as simple as a missed creditcard payment and the resulting fee haunting you from years past, or maybe you had a house foreclosure or car repossession. Once you have your list, find someone you trust, such as your partner, mentor or a therapist/ counselor to talk about the things that come up for you.
There is an escape from the Money Panic, and it doesn’t involve selling off retirement investments or increasing your creditcard limit. Your part-time consulting job likely won’t cover all the bills, so you may need to cut the fat from your household budget. Secure a “consulting” gig.
If you want to end your financial struggles, you need to make a habit of saving and budgeting what you spend. Here are some sensible ways to budget your monthly net pay: Spend no more than 25 percent on housing, no matter if you own or rent. Stay away from accumulating creditcard debt. Get a mentor.
Suppose you rack up creditcard debt with a you-only-live-once attitude and haven’t developed a plan to repay that money. Or perhaps you promise yourself you’ll sit down and create a budget but never find the time. Avoiding unpleasant finance topics now with toxic positivity will hurt you in the future if you don’t have a plan.
One day, she meets a barista named Henry who becomes her mentor. Don’t Budget. The “down” escalator is racking up debt on high-interest rate creditcards , going into debt to buy things you don’t need, taking out payday loans, and borrowing money to invest in things that can go down in value.
Small business creditcards flourish as loans disappear : Want a loan for your business? That’s about all banks are going to offer — and the terms are much less favorable than traditional lines of credit. Hit the plastic.
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