5 Financial New Year Resolutions

5 Financial New Year ResolutionsIf you’re like most people, now is the time to focus on those New Year resolutions to lose weight and get financially fit.

To help you with part of this, here are my Top 5 Financial Resolutions for 2014:

Resolution #1: Set a goal to increase your credit score. Your target number should be 750 or higher.

Resolution #2: Set your sights on paying off one or more of those credit cards that have haunted you for years. Which will bring you closer to living a life of financial peace of mind.

Resolution #3: Start building your “emergency fund,” or contribute more to your existing emergency fund. Your goal is to sock away at least 2 to 3 months of living expenses.

Resolution #4: Increase your income by 10% this year. So if you bring home $75,000 a year, find a way to add an additional $7,500 to your bottom line.

Resolution #5: Contribute more to a retirement or investment account. You can start with just an additional 1% or 2% more in 2014, and build up as you go.

If you can accomplish one or more of these financial resolutions in 2014, not only will you will feel like a million bucks, you will definitely have a happy new year!

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