3 Resolutions That Can Solve Your Money Problems

New Year

New Year

It’s time to embrace the fresh start of the New Year and make your resolutions. If you’re hoping to leave your money problems behind you, here are three resolutions that could turn things around for you.

1. Get an Emergency Fund

It’s always wise to be prepared for the worst to happen. You have a fire extinguisher in your kitchen in case your cooking on the stovetop goes up in flames. You have a spare tire in your car trunk in case you get a flat in the middle of the highway. So, you should also have an emergency fund that you can turn to when you deal with an unexpected and urgent expense.

There’s no time like the present to set up this safety net. Calculate how much money from your budget you can afford to push into a savings account. Make a habit of adding that amount every month. To get the most out of your savings, take a look at these emergency fund tips from the financial experts at Forbes. They could help you reach your goal faster.

Filling up an emergency fund will take time to put together. It’s still wise to make sure that you’re not vulnerable to financial emergencies while you’re building up the safety net.

As a precaution, you should consider applying for a personal line of credit. Any time you deal with an urgent and unexpected expense, you can draw from the account to recover quickly. If this sounds right for you, you should go to CreditFresh to see how to apply for a personal line of credit and how to use it properly. With this account, you could always be prepared for the small financial surprises that the next 12 months will throw at you.

2. Improve Your Credit Score

Your credit score is important. It affects everything from your credit card to your auto insurance to your utilities. A low score can set up lots of roadblocks. You could get saddled with high insurance rates, steep deposits and lots of application denials. A high credit score can erase these frustrating financial problems.

If your score is on the lower end, you should try the following tips to give it a boost this year:

  • Pay your bills on-time
  • Leave accounts open
  • Keep your credit card balance well below the limit
  • Dispute credit report errors

3. Stop Impulse Buying

Impulse buys are spur-of-the-moment purchases that give you a feeling of instant gratification. But all too often, that jolt of instant gratification quickly sours into regret when you take a look at your credit card bill. If you want to be better with your money this year, you should make a resolution to break this bad habit.\

Related: What is the 402-935-7733 or 4029357733 number on the credit card?

Here are some tips that can help you stop:

  • Avoid window shopping and online browsing for fun.
  • Avoid using retail therapy to cope when you’re feeling stressed or upset. Find healthy distractions like going for a walk or talking to a friend.
  • Unsubscribe from retailer newsletters and mailing lists.
  • Block shopping websites on your phone and computer.

Most New Year’s resolutions will cost you tons of money. Fitness bootcamps, class memberships and book lists can put big dents in your bank accounts. But these three financial resolutions will do the complete opposite.