With the new year close at hand, multitudes of people make New Year’s resolutions to improve their lifestyles with diet, exercise, or mastering new skills. Unfortunately, most New Year’s resolutions last approximately 21 days. Instead of making a resolution, why not commit to getting your financial house in order? Money may not be the most important thing, but it can allow you to do things that are most important to you. Start your new year with these six essential tasks to get your financial house in order.
Set a budget. Using a budget requires discipline and takes time to plan and carry out correctly. Byron Deese of Glass Jacobson Financial Group recommends living on 70% of your net income. Use half of that total for home and transportation, another 20% for food and an emergency fund, and 10% each for savings, retirement, and charity. Following a budget plan is the easiest way to get yourself financially on track.