How New Year Resolutions Can Improve Managing Your Personal Finances  

When most people think of New Year's resolutions, thoughts of "getting fit," "eating healthy," and "reading at least ten books" typically spring to mind. However, "improving your finances" is perhaps one of the best 2024 resolutions.

Finding financial security boosts happiness, relieves stress, and frees up some dollars to spend more time with family. Ultimately, it brings you a balanced, well-rounded life. Although, you aren't alone if you think it's impossible. 

Regardless of your current monetary state, you can set a few goals to put you on the right track this coming calendar year. So, without further ado, here's how New Year's resolutions can help you manage your finances. 

The Best New Year Resolutions To Make Managing Personal Finances In 2024 A Priority

1. Save More

You can save more next year in a plethora of ways. Whether it's increasing 401(k) contributions or setting up automatic transfers to a savings account, you have near-limitless options.

Beyond the standard accounts, you can use credit cards to your advantage. Pick one with competitive rewards and credits to earn points, miles, or cash back to offset purchases.

2. Clean Up Personal Finances

Why not kick the year off with a "spring" finance clean?

To start on the right foot, please look at your current outgoings. If you see a shopping pattern (e.g., Amazon, Walmart, Subscription, Amazon, etc.), try to cut back on certain things.

This isn't about eradicating things from your life but seeing how much less you can spend while still having a good time. Consider it being creative rather than "tight."

You can start small by not renewing Amazon Prime or letting your Netflix subscription run out. You'll be surprised by how much money (and time) you have left over at the end of the month.

3. Rebalance Your Portfolio

The stock market flies up and down all the time. Therefore, rebalancing your investments to an updated asset allocation allows you to take stock and lock in market gains with the best returns. 

4. Create A Budget (And Stick to It)

Budgets don't have to be restrictive. Tracking spending can be beneficial to increase your understanding of where your money is going. A clear budget sets guidelines to ensure you only spend what you have.

These days, using a budgeting app is the easiest way to create one. Regardless of whether you have an Android or Apple device, there are loads to choose from —most of them are free!

5. Reconsider Your Mortgage

Your current mortgage deal may be better now. So, it's worth shopping around in the new year.

That said, you need to consider whether switching plans early is wise — some providers charge fees that may minimize your savings.

6. Only Get A Loan When You Need It

Sometimes, taking out a loan to splurge on yourself or your family member can be tempting, but this is never a good idea. Loans are there to help you when you need them most, not to satisfy out-of-hand shopping habits.

If you are dealing with a financial emergency, like medical bills, higher-than-usual utility bills, divorce, job loss, or veterinary fees, a title loan or signature installment loan from Wisconsin Auto Title Loans, Inc. is a safe, convenient option. Our loans are best suited to situations that would worsen if left unpaid or become more expensive. When time is of the essence, you can justify an emergency loan. 

Consult the table below to see which type of loan is right for you:

	Title Loans	Signature Installment Loans
Description	It's a short-term loan that uses your lien-free vehicle title to secure it. You don't need a good credit score, just a car, truck, or van.	It's an unsecured personal loan that requires your signature and promise to repay. Your credit will be checked before being approved.
Loan Amount	Up to $15,000	From $100 to $1,500
Required Items	Driver's license or state-issued ID Vehicle (car, truck, or van) Lien-free vehicle title	Driver's license or a state-issued ID Checking account statements covering the last 30 days Proof of income (i.e., most recent pay stub)
Online or In-Store?	In-store and online	In-store only

Visit Wisconsin Auto Title Loans, Inc. For Title And Signature Installment Loans This New Year!

You need to find out what the future holds. However, with New Year resolutions geared toward personal finance management, you can set yourself up for success, regardless of life's curve balls. Whether it's rebalancing your portfolio, creating a budget, or tidying your monetary landscape, the resolutions above will help you have a financially healthy 2024.

However, you can always get a loan from us at Wisconsin Auto Title Loans, Inc. Please fill out our online form, and we'll be in touch to help you.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.