Your financial independence and health should be a major part of your New Year financial resolutions. However, it’s also important that you stick to the goals and resolutions you set so that you can transform your life.

In this article, we are going to tell you the five top New Year financial resolutions to commit to next year. These goals can really help improve your finances so that you can get one step closer to financial independence.

We’ll also have a look at different methods to use when facing an emergency, including building an emergency fund and using same-day payday loans in Florida.

Top 5 New Year Financial Resolutions To Try This Year

There are many different New Year financial resolutions that you can try out. Here are five resolutions that many people have taken to change their lives:

1. Create And Stick To A Budget

Very few Americans actually know how much they spend on a monthly basis. As a result, many individuals live beyond their means without even realizing it. So that you aren’t in the same situation, the most important part of creating and maintaining your financial goals is to stick to a budget.

Make sure you begin this new year by creating a budget that is actually livable. Aim for a budget that accounts for 50% expenses, 30% entertainment and others, and 20% savings. Then, do everything in your power to stick to this budget as the year goes on.

If your income or finances change throughout the year, adjust your budget to account for any increases or decreases in earnings.

2. Save At Least 20 Percent Of Your Income

As mentioned above, you should aim to save about 20% of your income. While many think that saving is not within their power, proper budgeting and spending should allow you to save this much of your income, if not more. If you have the ability to save more than 20%, start doing that today.

3. Raise Your Credit Score

Unless you have a good credit score, meaning 700 or above, really focus on raising your credit score this year. Your credit score impacts your life more than you realize it, or as much as you actually realize it, depending on the situation you find yourself in.

Although raising your credit score is difficult, it definitely is worth the effort. Future you will especially thank you for raising your credit score, even by a few points.

4. Separate Debt From Everyday Purchases

Many people make the mistake of using their credit cards to pay for everyday purchases. Conversely, some people don’t really separate debt from their everyday expenses in their budget.

It’s important that you keep your debt and everyday purchases separate so that you don’t accumulate too much debt and have a budget that reflects your actual expenses.

5. Create An Emergency Fund

Emergencies happen when you least expect them. To ensure that you have at least a little bit of money to pay for emergency situations, create an emergency fund. An emergency fund could help pay for unplanned expenses, such as car repairs, medical bills, or sudden loss of income.

How much you should put into your emergency fund depends on your situation. If you can only save a little bit at a time, that’s fine. What’s most important is that you begin saving for your emergency fund so that you have at least a little bit of cash whenever emergencies hit.

When creating your emergency fund goals, most people aim for having at least enough money to make it through a month. However, the best emergency funds can allow you to survive for three months without income.

Need Help Staying Financially Afloat?

If you are looking for New Year financial resolutions to reset your finances, you might be facing a bit of trouble, financially speaking. If this is the case, you can consider same-day payday loans as an alternative option to help you face a financial issue.

Same day payday loans from Fast Payday Loans, Inc. can get you up to $1,000. You can use this money if you’re having trouble paying for urgent living expenses, such as rent, utilities, or food. You might also want to use it for an emergency situation, such as emergency travel or medical bills.

Luckily, you can qualify for a fast payday loan Florida regardless of your credit type. Individuals with any type of credit, including good or bad, are welcome to apply. This makes payday loans an option for individuals without a stellar credit score. And you simply pay the loan back by your next payday.

Get Your Same Day Payday Loans Today!

Starting the new year on the right track can give you a strong lift toward financial independence before the year is over, but what matters the most is not just making these New Year financial resolutions, but also sticking to them the entire year.

And whenever you face an emergency, you can consider a same-day payday loan as one of your options. You can get started today by filling out the online payday loan form and you can receive your loan on the same day or the following business day. 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.