This is the week.
Wither fewer than 20 days behind us and going into the New Year, this is the time when many people give up on their grandest of plans to be a better person. We leave the healthy eating plans behind us as we near the playoff games and Super Bowl parties. We stay in bed instead of heading to the gym when the forecasters predict an entire week of temperatures below zero.
It is important to realize, however, why you made those resolutions in the first place. Perhaps, for instance, that end of the year check up with your doctor was a wakeup call to the need for addressing some important health goals. Perhaps you are now just six months away from that big family wedding or high school reunion gathering. Who knows, you might finally be ready to afford both the time and the money to take your adult children on that dream family vacation and you want to be in shape enough to enjoy all of the fun.
No matter what your initial motivation was, the third week in January is an important one. This is the time when the people who will see real progress on their resolutions will recommit to focusing on eating right and exercising more. This is the time when your house that you spent so long decluttering in those first days after the holidays may need some extra attention if you want to avoid slipping into your old, careless habits. A clean house is easier to keep that way and a lean body is easier to maintain. The initial work of most New Year’s Resolutions is in establishing a set of habits that will sustain you for not just the first three to four weeks, but the next 10 to 11 months.
Trimming Your Budget Is Even More Important Than Trimming Your Waistline
Too often when people think about New Year’s Resolutions they focus on their weight and their health. And while theses are certainly worthwhile pursuits for most of us, the fact of the matter is just as many Americans would benefit from trimming their budgets as well. With so many types of credit cards available today, in fact, there are a high percentage of U.S. consumers who are simply living beyond their means. Setting a goal for the year 2020 to have a clearer vision of the work that you will need to do to get your finances in order is a noble goal Did you know, for instance, that consumers are twice as likely to find free checking at a credit union than other financial institutions? And while nearly 70% of Americans have at least one credit card, it is important to know that the wisest spenders pay off those balances every month.
This first month of the new decade is the perfect time to reset your budget and, even if you did not start on January 1, work toward being a more responsible consumer. For instance, while 88% of home buyers have a mortgage, not all of these mortgages are the same. Finding a way to get yourself in to the lowest interest rate as possible depends on the kind of credit rating that you have. That credit rating, of course, relies on how you handle your credit cards and your bill paying. Even the youngest consumers quickly find out that the different types of credit cards can vary greatly. More credit is not always good credit, and young consumers just entering the workforce need to understand that finding a credit card with a lower interest rate and paying off that guard every month is going to be the key to financial success.
From recreational vehicle loans to business loans, to mortgage loans, the most savvy consumers realize that they need to carefully consider all of the financial credit situations that they enter. Not just this first month of the new decade, but every day of the new year a decision about the types of credit cards that you will open will determine just how successful you will be in the future. Fortunately, you can start this new resolution at any time. Examine the types of credit cards you are using and eliminate those with the higher interest rates and penalty fees.
