New Year's resolutions have varying levels of success. While many people are able to follow through with them, others are less ambitious, oftentimes leaving them by the wayside. This is especially true when it comes to finance, which is an aspect of life that many people can use help with. As we close out 2018, here are some of the most common New Year's resolutions that Robert Jain will be able to outline.
According to reputable names in finance, Bob Jain included, it's worthwhile to build toward an emergency savings account. For those that don't know, this is designed to cover a variety of situations, whether it's a medical situation, sudden loss in employment, or any other case where compensation will be needed. It's important to start building this account as early as possible. By doing so, you will have a more sizable nest egg that can be used whenever it's needed.
Another way to go about establishing New Year's resolutions is by increasing your contributions to your retirement account. If you speak to an established agent, and continue to work full-time on a regular basis, eventually you'll reach your goal. However, by increasing your contributions, the goal in question will be obtained sooner. This goes a long way in your personal life, especially in the long term, so keep this in mind.
Next, focus on becoming healthier. While this may not seem like a financial resolution, on the surface, you have to consider the costs that are often associated with a healthy way of life. A gym membership, for instance, can eat away at your bank account. The losses are especially noticeable if you don't go to the gym often. There are other ways to stay healthy, such as home exercising and eating properly, that won't cost nearly as much.
Perhaps the best New Year's resolution that one can make, as far as finances are concerned, is by boosting their credit score. If you have been having trouble obtaining a loan or opening a new credit card, it's possible that a low score is to blame. You can improve this by making smarter purchases, only buying what you know you can afford. This will allow to pay more affordable monthly bills, which will go a long way in improving your score.
According to reputable names in finance, Bob Jain included, it's worthwhile to build toward an emergency savings account. For those that don't know, this is designed to cover a variety of situations, whether it's a medical situation, sudden loss in employment, or any other case where compensation will be needed. It's important to start building this account as early as possible. By doing so, you will have a more sizable nest egg that can be used whenever it's needed.
Another way to go about establishing New Year's resolutions is by increasing your contributions to your retirement account. If you speak to an established agent, and continue to work full-time on a regular basis, eventually you'll reach your goal. However, by increasing your contributions, the goal in question will be obtained sooner. This goes a long way in your personal life, especially in the long term, so keep this in mind.
Next, focus on becoming healthier. While this may not seem like a financial resolution, on the surface, you have to consider the costs that are often associated with a healthy way of life. A gym membership, for instance, can eat away at your bank account. The losses are especially noticeable if you don't go to the gym often. There are other ways to stay healthy, such as home exercising and eating properly, that won't cost nearly as much.
Perhaps the best New Year's resolution that one can make, as far as finances are concerned, is by boosting their credit score. If you have been having trouble obtaining a loan or opening a new credit card, it's possible that a low score is to blame. You can improve this by making smarter purchases, only buying what you know you can afford. This will allow to pay more affordable monthly bills, which will go a long way in improving your score.
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