It is November and our thoughts are really focused on the approaching festive period and, of course, the new year ahead. At that time of year it is only right to start thinking about the resolutions or changes you want to make for the year ahead. One of the most common resolutions people have is in regards to money, and how they can improve their financial situation. So I wanted to share with you some of the resolutions you could make to help you do just that in 2018.
Focus on paying off debt
Many people will find themselves entering into debt over the Christmas period and this can be very unwelcomed, but it is unfortunately, a stark reality for some. So use 2018 as your year of clearing your debts for good. To start with, focus on the debts that are costing you the most and clear these first to make savings on those interest rates. Then you may want to think about putting a plan together to pay off everything else. A consolidation loan can give you a payment plan and fixed payment to pay things off for good. Just don’t be tempted to spend on those cards again.
Make the career change you desperately want to do
Another common resolution aside from money is the career, but actually, these two can be closely linked. After all, better job prospects could lead to an increased wage each month. So why not use 2018 as your chance to go for the job you really want? You might want to study for that masters in engineering management or go back to university to take on specific degrees in subjects like law or psychology. Whatever your ambition is, use the motivation of the new year to bring that change in for good.
Put a little away each week
Maybe you love a take out coffee or enjoy too many takeaways each week. Instead, putting that money aside every week could add up to a tidy sum come the next Christmas and new year. Even something as little as a few dollars a week could help to build up your savings and subsequently boost your income.
Invest in property
One of the biggest ways you can boost your income is to invest, and one of the best ways to do that is through property. You could consider buying a bigger house which helps increase your nest egg for the future, or invest in an additional property that you then rent out and earn an income from. You get the benefit of the value of the house as well as the rent each month.
Make money off your unwanted things
Finally, there’s money to be made in your unwanted things, and the new year can often inspire you to have declutter and organize your things. So why not utilise platforms like eBay and sell the unwanted items online? This could be a great way to boost your income in the new year.
I hope that these resolutions gives you the motivation and tools to boost your income next year.
Disclosure: This post was submitted on behalf of PennyMindingMom.com.