The Financial Resolutions You Should Make in 2017

If you are thinking of making a resolution for 2017, there is no better resolution than to protect and build your finances.  Everyone could use financial improvement, and doing so now could ensure bigger savings at the close of next year.  So this year, why not make some simple changes so that you can plan for yourself, your family, and your future?  Give yourself the gift of financial freedom this year by reviewing these financial resolutions you should make in 2017:

1. Cut Out Unnecessary Expenses. Before you create a budget, you should first take a look at what you are spending your money on already.  There are two ways you can do this.  One way is to spend a week tracking how much you normally spend.  Alternatively, you can look back on recent bank statements to find a pattern of what you spend already.  By doing this, you can observe how much you actually spend without realizing it.  After reviewing your expenses, you can now create a budget that eliminates what you don’t need.
2. Shop Deals. After simplifying your budget, you can shop to meet your needs.  If you want to save big this year, it is time to stop wandering aimlessly into Target without a list to stick to.  Stop throwing out those coupons you get in the mail—take a quick look to see if there is a deal on what you have been on the lookout for.  Apps such as Ibotta can help you in your search for the perfect deal on all your shopping needs, including produce.  If you are loyal to a certain high-end grocery store, try compromising by getting some foods there and some at a cheaper store.  For instance, local ethnic markets usually have cheaper produce, so the extra trip will be worth it for your fresh fruits and veggies.  Produce can be very expensive, so it is also best to shop seasonally.  Not only will the food likely be cheaper, but it will be fresher and more flavorful as well.  In addition, if you love travel but you are on a budget, check out sites like com for the best deals for you and your family.  Browse for deals on a variety of travel, lodging, and event sites to save big on all forms of entertainment.
3. Use Credit Wisely. If you do not have a stellar credit history, there is no reason you can’t start now.  Take an honest look at your credit and devise a way to start paying off debt now.  Taking care of it now will keep you from mounting anxiety and credit issues later.  When first approaching your credit, go in with the mindset that you can overcome it.  Just like with any expense, create a monthly budget of how much you will spend and how you plan to pay it off.  For example, you may want to designate your purchases to only things like gas or utilities.  When in doubt, consult with a financial advisor to devise a way to best pay off your credit card debt.  If you are looking to open a new card, however, look carefully into each card’s policy to better understand the pros and cons of the card you are opening.
4. Pay off Taxes. When the new year begins, that means tax season is quickly approaching.  Don’t put if off—when you get your W4s, act immediately to get it off your plate. There is no reason to be intimidated by tax season even if you do owe the IRS.  Just like with credit balance, the best thing to do is to deal with it immediately and strategize how you can pay it off with minimum penalty.   A company like Community Tax can check how much you owe the IRS and help you find a plan to rid yourself of debt.