The following is a blog post contributed by the elusive blogger “Jeff” at Delta Community Credit Union. We call him “IMI” around here…International Man of Intrigue. We can’t tell you much about him (well, we could, but you know what we’d have to do after that…) but he is obviously brilliant for coming up with these simple personal finance new year’s resoloutions. Here’s to 2014!
Happy New Year! Whether your personal finances took a turn for the better or for the worse in 2013, we at Delta Community Credit Union believe there’s no better time than the present to ensure things look GREEN in 2014. As you consider resolutions for the new year, here are our recommendations for making the most of your money.
Pay off debt
If you have college or consumer debt, one of your first resolutions should be to pay it down. Challenge yourself to make more than the required minimum payments, and focus on getting your accounts paid off as quickly as possible. There’s a certain amount of stress that goes along with having debt of any size. Make 2014 the year you shed that stress.
Compare Prices on Insurance
On a regular basis, you should compare your insurance costs with other plans at your current insurance company and competitors. If you have your auto and home policies through separate companies, look into combining them so you can take advantage of multi-line discounts. This is also a good time to make sure your insurance coverage really does meet your needs. For example, did you buy a new flat screen television in 2013? If so, you may need to add a rider to your homeowner’s policy to cover your latest investment.
Read, Read and then Read Some More
Knowledge is power! At Delta Community we believe education is one of the best ways to take control of your personal finance. You don’t have to be a financial guru. You just need to take the time to educate yourself about personal finance. Check out some of the popular personal finance websites and magazines to stay up-to-date on the latest news and trends. Most importantly, know what you have to spend, and spend within your means. This advice is as old as money itself, and we believe it’s still sound advice – even in 2014!
Article submitted by Jeff