This is not the year for solid financial planning it seems. While we can all hope the government pulls through for us and this tax year, we shouldn't pin too many hopes on that particular star. Instead, let’s make some financial resolutions that are a bit more certain to come through for us – these are the sort of resolutions that you have to take care of yourself, i.e. the good kind.
Clean Your Home and Bank We all have an enormous amount of stuff lying around the house, and this is a great year to not only clean out all of those drawers and closets, but to profit from your cleaning out as well. For example, how many old cell phones do you have shoved in a drawer somewhere? How many clothes do you have that you haven’t worn in years? How many purses are just stashed in your closet? Let’s clean house! Spend a weekend doing a serious clean out.
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Make a huge pile in your living room of all the things you don’t wear, you don’t like or you don’t use. Then, sort through that huge pile and find ways to make money from all of them. Take the old clothing to a consignment or resale shop. Some of the trendy ones will make you an offer on the spot. Make some ads on Craigslist for other items and even consider taking things to a pawnshop. It all adds up to big bucks as you sort through your stack of stuff. After a few weeks of hard selling, you may find yourself with an extra $500 to spend on anything you want – or better yet, start saving it!
Bundle and Cancel
How much are you paying for cable? For your internet service? If you haven’t already, look closely at some of the bundling packages available. Ask your cable or phone provider what packages are available, and look for the absolutely minimum level of service on things like cable internet and cable TV.
You might be paying $150 for 5,000 channels on television, but in fact need to pay only $10 for 30 channels. You’ll never know until you ask. Shop around as well and look for special offers and bargains. Even if you have a package currently, you might do well to cancel it for a few days and then sign up for a new one to take advantage of a new special offer that is available.
Get Retirement Organized
There is a huge amount of stress associated with retirement planning. We all know we need to be doing it, but somehow we never manage to actually make it happen. Maybe this is your year to pull things together. Fortunately, you don’t have to go elaborate and arrange a structured settlement cash offer – you can start simpler with a monthly savings plan.
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Do a bit of research and open a Roth IRA account. You can invest in a Roth IRA after-tax, which means you can just scrape a bit off your paycheck and send it right in to the account every month. Once you have your account set up, set aside a few dollars every month for savings or send it directly to the Roth account if possible.
Even if you just submit $20 per month, you’ll have $240 invested by the end of the year, gaining value and growing. Of course you’ll want to submit more over time, but getting started on saving feels great and everything will be set for larger future investments as well.