The new year is the perfect time to review your credit union statement, take stock of your financial habits, and release what isn’t serving you. Making the right choices for your financial life now can influence where you will be five, 10, or 50 years down the road. If you understand that, you can easily make a positive impact on your financial habits starting now. 

Financial Resolutions for your New Year

1. Have a Budget Night

Where most budgets fail is that there wasn’t one to begin with. Write out all of your expenses and place them into columns. One column will be your fixed monthly expenses. The next will be the expenses that aren’t necessary or that you can do without, such as that large cable bill. Finally, write down annual expenses, like insurance payments or other once-a-year expenses that you know will occur. Divide that total by twelve and add it to your fixed expenses. By doing this, you will have a consistent budget with no surprises. Force yourself to have a budget night every month, and it will get easier and maybe even fun.

2. Pay Off Your Debt

Kick your debt to the curb in 2019! Start by writing down all of your debts, smallest to largest. Pay the minimums on all other debts, and attack the smallest one with all of the cash you can muster. Once that debt is out of the picture, start on the next one. Track your progress. Just like your mortgage or car payment, give your debt an end date and make it happen. 

3. Align Yourself With the Right Credit Union 

The most important part of your financial journey is having a roadmap of where to go. You can find this with the right credit union by your side. Speak with a financial advisor about where you are, and where you see yourself down the road. They will help you set up a game plan to get there, including finding the right investment vehicles and retirement strategies. 

Though it may seem daunting, if you break out your credit union statement now and see where your money went this last year, you’re more likely to save it going into 2019. The team at Spirit of America Federal Credit Union have been providing Lincoln, NE, with trustworthy customer service and banking products for years. Call them today at (402) 467-1102 or visit their website for more information.