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It’s already 2019! What is your new year’s resolution? Better yet, what is your goal for 2019?
Aside from getting that body fit and in shape, you should also consider stirring towards a financial fitness regime. An easy way to step up your game is to slim down and increase your gains both physically and financially as well.
If you haven’t set one yet, we have compiled a list on how you can be financially fit in 2019!
You and the Credit
Your credit right now might weigh heavier on you rather than your weight, so let’s work on turning that bad credit into a good one. So here are a few things that you should take in consideration when you want to reduce your credit.
Keep your balances low
Kind of like your diet, the best way to build a credit score is by taking it responsibly. Don’t overbuy and max out your credit cards. Keep it in and make sure that you reduce your spendings.
Being on time with your bills
Ever heard of the term, time is money, well, that applies here as well. If you are lazy make sure that your bills are paid in advance, be diligent since an overdue bill statement might cost extra and might damage your chances of getting a loan or getting cash out refinance Corpus Christi in the future. Take it to yourself to pay the bills, you’ll never know, in 2 years, you might have saved up enough to buy a new house!
Understanding your limitations
Borrowing more than what you can pay is a mistake. Yes, you can pay it all over time, but you might lose more than gain. Take note that you should be more careful about your decisions since living with a bad credit score will cost you a whole lot more.
Be honest with understanding your spending habits.
Be more honest with yourself when you are pointing out habits and vices that have you spending more than what you can pay.
Many people do not realize how much they spend on unnecessary things and even would go as far as denying it and calling it a necessity. You should take a close look in the mirror. Are there memberships, subscriptions, things that you rarely use but want? You need to skim down on these things. You might be surprised how much money you throw down in the drain for it.
Make a Savings Plan
When you have no prior control of your spending habits, one of the most effective moves is to start a savings plan. Save some room in your monthly budget to set aside for something that you want to buy at the end of the year, a car, a house, a new dryer for your mother.
Anything counts as long as it keeps you going. To make it a little bit more official and to show resolve. Go ahead and start a separate bank account and have other people help you by asking your payroll officer to send a portion of your monthly salary to the dedicated account.