It’s time for those all-important New Year’s resolutions. And since about 60% of those who make them don’t follow through, there’s a better than 50-50 chance that you won’t either. That shouldn’t discourage you, however, since there are steps you can take to make sure you’re successful this year.
Since resolutions concerning financial matters are usually high on the average person’s list, it makes sense to look at how anyone who sets attainable resolutions about money can count themselves among the success stories at the end of next year.
Although third shift jobs in Cleveland pay a competitive wage, there are things you can do to raise your financial status even higher. Here are some tangible actions that you can take to achieve all of your financial goals in 2017:
Create a budget and follow it
Most people don’t like following a budget. But without it, you won’t know where you’re spending your money or which areas you can reduce to leave more funds for saving and investing. Treat your budget as a road map to financial security—it could well be just that.
Mint.Com, a money management site, has a budget app to help you get started.
Open a savings account
Even though the interest earned on savings accounts is pitifully small, it’s a good idea to have a separate account for the money you save from careful budgeting. You can designate these funds for various goals—an emergency fund, travel, down payment on a car, just to name a few.
You can simplify the process by having your bank automatically transfer a set amount from checking to savings each month.
Look for side work
Nothing brightens your financial picture like extra income. There are opportunities for part-time employment—evenings at a health club or weekends at the local book store—which won’t interfere with your nine-to-five job. If you prefer to work from home, you could check out sites like www.realwaystoearnmoneyonline.com for work-from-home jobs. And, if you have writing talent, there is plenty of freelance work available.
Set up a retirement account
If you’re fortunate enough to work for a company that provides a 401(k) plan, it makes sense to contribute as much to the plan as you can. After all, your contributions are taken out before taxes so, in addition to saving for your future retirement, you’re getting a tax break right now.
If you can’t contribute to a 401(k), open a Roth IRA. There are no immediate tax breaks, but the money gives you tax-advantaged growth and no tax due at retirement.