{"id":9304,"date":"2023-08-06T12:54:37","date_gmt":"2023-08-06T12:54:37","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/savings\/new-years-resolutions-toning-your-financial-health\/"},"modified":"2023-08-06T12:54:47","modified_gmt":"2023-08-06T12:54:47","slug":"new-years-resolutions-toning-your-financial-health","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=9304","title":{"rendered":"New Year’s Resolutions: Toning Your Financial Health"},"content":{"rendered":"
\n

It’s that time of year when many people set goals in the hope of changing their lives in the year to come. Whatever your plans, you may want to add a few small financial changes to your resolution list to help you make the coming year even better.<\/span><\/p>\n

<\/p>\n

Pay down debt<\/h2>\n

As you start the year, make a plan to pay off debts with the highest interest rates first. Also, it’s always wise to pay more than the minimum payment, so if you’re financially able to pay a bit more, do so. You’ll pay off your debt faster and save more on interest in the long run.<\/span><\/p>\n

Increase your savings<\/h2>\n

Set a goal; perhaps you’d like to save for a dream vacation, a down payment for a new home, or an emergency fund to cover the unexpected. Then, establish a timeline for accomplishing the goal and outline a strategy for reaching it. You’ll find the results easier to achieve.<\/span><\/p>\n

Develop a budget<\/h2>\n

When developing your new “budget,” it may help you to think of it as a spending plan instead. By planning out your food, entertainment, education, and other expenditures, you’ll have a better understanding of where you’re allocating your income and how much is available to spend on each activity.\u00a0<\/span><\/p>\n

<\/span><\/span><\/span><\/p>\n

Review your credit report<\/h2>\n

You are entitled to one free report a year from each of the three major credit-reporting agencies\u2014Equifax, Transunion, and Experian. Use a website such as <\/span>www.annualcreditreport.com to request your reports at the beginning of the year (or request one at a time throughout the year). This way, you can file disputes regarding any erroneous information, as well as evaluate how you might increase your overall credit health during the year.<\/span><\/p>\n

Protect your identity<\/h2>\n

Protecting your identity can be as simple as monitoring your financial and online accounts. Here are a few tips:<\/span><\/p>\n