Financial Resolutions For 2013
| “I will start an emergency fund.” |
Only one in four American households has an adequate emergency savings cushion.
| “I will not pay any more bank fees.” |
As most people are aware, banks are trying to make up for lost revenue, so they charge on everything from monthly maintenance to overdraft protection. A May, 2012 Pew study reported that the average overdraft fee is $35, and said big banks charge an average of $117 per year.
| “I will save for my retirement.” |
Doesn’t matter if you’re 25 or 45–most people chronically undersave for their retirement.
| “I will pay off my debt.” |
According to Odysseas Papadimitriou, CEO of credit card comparison website CardHub, credit card debt hovers around $6,700 per household.
| “I will make a budget.” |
Many people shy away from making a list of expenses and finances, because they find it trivial or tedious. But it’s a necessity (especially if you want to adhere to Resolution 4,).
| “I will build great credit.” |
This is important, because the better your credit the more you can take advantage of rewards and zero percent introductory interest rates.
| “I will talk about money and estate planning with my partner and my family.” |
Most people shy away from uncomfortable discussions about money. But these conversations are necessary part of life.
Follow Us
