new year's resolutions

7 Important Money Moves to Make in the New Year, According to Financial Advisors

Holly Johnson — Tue, 07 Jan 2020 18:37:34 +0000

It's easy to think you'll get your finances together "next year" or when you finally get the promotion you've been after. Unfortunately, time keeps on ticking away, making it easy to spend years dreaming of financial security without making progress toward your goals.

Now that 2020 has arrived, it may be the perfect time to stop making excuses and start making moves. After all, it's more than a new year — we're in a brand-new decade.

But which moves have the potential for the most impact? We interviewed several financial advisors to find out which steps they think nearly everyone could benefit from in 2020 and beyond, and here's what they said.

1. Increase your contributions to tax-advantaged retirement accounts

According to financial advisor Benjamin Brandt, who is the host of retirement podcast Retirement Starts Today, the beginning of the year is an excellent time to reevaluate how much you're putting away for retirement. Fortunately, the Internal Revenue Service (IRS) increased the maximum you can contribute to a 401(k) account in 2020, bringing up your total maximum contribution amount to $19,500.

"Could you save a little more for the future version of yourself?" he asks. "Calculate what a 1% increase in your savings rate might be, and commit to that increase."

You might not even notice the money missing from your budget when savings is increased in such small increments, but you'll never know unless you try. (See also: 5 Money Moves to Make Before You Turn 40)

2. Take stock of changes in your life that took place over the last year

Financial planner Luis F. Rosa, who is also the host of the On My Way to Wealth podcast, says that pretty much everyone should sit down and analyze any big life changes they've endured over the last year or two, including marriage, divorce, or the birth of a new child.

You should also review your beneficiary designations on your 401K, life insurance, and other accounts to make sure they are up to date as per your wishes, he says. (See also: 5 Money Moves Every Single Parent Should Make)

3. Learn to live within your means

Most people manage their money in the most backwards way possible, meaning they buy what they want and try to save anything that's left. Financial advisor Christopher Clepp of Strategic Financial Group says people need to "reverse their thinking" if they hope to reverse this trend in their lives.

Instead of buying what you want and worrying about savings as an afterthought, Clepp says to "invest for the lifestyle you want and spend what is left over."

You don't need to keep track of every expenditure if you're saving enough to begin with, he says. "If you need to save 20% per month, then save that first and the other 80% spend as you see fit as long as you don't exceed that number or run up credit card debt."

4. Pay off credit card debt

Credit card debt may not be overly problematic for many people in the short-term, but this type of debt doesn't really help anyone in life. Credit cards carry an average APR of over 17%, after all, so they're a poor option when you need to borrow money. And since you can use them to keep spending, they can easily be used as a crutch to build a lifestyle you can't really afford.

Clepp says everyone should make 2020 the year they pay off credit card debt once and for all. He points out that, if you carry an average of $5,000 in credit card debt with an average APR from ages 35 to 65, that debt will cost you close to $20,000 in interest payments. That's a ridiculous amount of money, and I'm sure you can think of plenty of ways you'd want to spend that much cash.

5. Assess your insurance needs

Clepp also says that people need to look over their insurance needs every year, even if they think they're up to date.

"All the careful future planning can be undone by an unexpected accident," he says. First and foremost, you should review your home insurance, auto insurance, and any umbrella insurance coverage you have each year.

Find someone who will educate you about the policies. "Cheaper isn't always better, but you may be able to find comparable coverage for a better price," he says.

Also, make sure to review your life insurance needs if you're married or have dependents. From there, review your disability insurance to make sure you're adequately protected.

6. Start using a budget

Financial planner Brandon Renfro, Ph.D. says everyone should give budgeting their income a try, and everyone should take the time to review their budget in the new year — even if it's working well so far.

"You may find that there are smaller budget items you can eliminate," he says. "The key here is a lot of times the smaller items go unnoticed, precisely because they are small."

By going over your budget and spending for the year, you may find you're splurging in areas that don't matter to you, which could easily be reduced for more savings. You may also find you're not really using things you're paying for, such as subscription services. In that case, you could cancel unused services and funnel that money elsewhere in your budget, such as savings or debt repayment.

Renfro says that, on top of reviewing your budget, you should also review any progress you're making toward your financial goals.

"This goes a little farther than simply confirming that you took the specific actions you had planned to," he says. "Here, you are confirming that the actions you took actually got you closer to accomplishing what you hoped to accomplish."

For example, maybe you planned to pay an extra $100 each month on your car loan or credit card. If you did, see how much closer you are to getting it paid off. If you achieved your goal, that's great, and you may just want to stay the course. If not, you should be asking yourself why not and taking steps to get back on track. (See also: 5 Steps to Successful Budgeting)

7. Improve your credit score

Financial planner R.J. Weiss of The Ways to Wealth says another area of people's lives they should focus on is their credit score, although few people keep an eye on this component of their financial health.

"This goal often gets prioritized when a large purchase is up ahead, such as a home," he says. "Yet, it's something that you should monitor and improve as there are many benefits to having a great score."

Specifically, he suggests consumers work on decreasing their total credit utilization. This is the amount of revolving credit you use compared to the amount of available credit you have. If you have total credit limits of $10,000 and $5,000 in credit card debt, for example, your total utilization is 50%.

"A great target to aim for is a ratio below 30%," he says. "Keep in mind, you can do this by paying off your debt, as well as increasing the total amount you have available."

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This article is from Holly Johnson of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Achieve Your New Year's Resolutions by the End of Summer

Toni Husbands — Fri, 22 Jun 2018 08:00:25 +0000

As another school year goes into the history books, and summer vacation is in full swing, there is an elephant in the room. What about all those goals you wanted to achieve back in January? Since close to half of New Year's resolutions are abandoned after a month, there's a good chance you've forgotten yours by now.

That's not to say your goals weren't grand. According to a YouGov poll, the top three resolutions in 2018 were to eat healthier, get more exercise, and save more money. Even though the year is half over, there's still plenty of time to check those boxes. Rather than store them away again until next January, let's harness the power of the summer and finish 2018 strong. (See also: 10 Financial Resolutions You Can Conquer Before New Year's)

However, doing the same thing and expecting different results is probably not the best approach. If you're serious about accomplishing your goals in the next three months, let's change tactics.

Break your goals into manageable chunks

The reason many of us lose focus is that our goals are very lofty. They're also not well defined. It can be hard to determine whether you've had success if your goal isn't quantifiable. And when we don't see instant results, our motivation can wane. Instead of focusing on that grand goal of weight loss or debt reduction, start with a smaller interim step.

Set a specific goal to exercise three times this week or drink two extra glasses of water every day. Now your goal is measurable and a feeling of accomplishment can be achieved, in short order. As time goes on and you achieve the smaller goals, you're likely to sustain the adjusted healthy behavior.

If you have a mountain of debt ahead of you, focus on tracking expenses to see where your money is going, and getting a written budget in place before each pay period. (See also: 5 Steps to Successful Budgeting)

These smaller tasks are manageable and easy to repeat regularly, but don't get ahead of yourself. Build up momentum during the days of summer so that you can turn this newfound focus into a positive long-term habit way before Christmas rolls around. (See also: 25 Bite-Sized Money Resolutions to This One Your Biggest Year Yet)

Find accountability partners

Use positive peer pressure as the secret sauce needed to remain vigilant. Whether that's an exercise partner, someone with the authority to pinch you anytime you reach for a cigarette, or a money club who meets regularly to discuss financial goals and priorities. We are not designed to live this life alone. So recruiting someone who can participate in your journey to goal completion can make all the difference.

Opening up to someone about things we feel less confident about can be scary. It's hard to be vulnerable and let others in on the big secret that we don't have it all together. The good news is that people in your life already know you have flaws. We all do. Exchange support with your friends and family members because they might need help dusting off and resurrecting their New Year's resolutions, too. (See also: This Trick Could Help You Finally Pay Off Your Debt)

Make your bed

Make your bed. Every single day.

That's what former Navy SEAL, four-star admiral, and former chancellor at the University of Texas — William H. McRaven — attributes to his success. He told USA Today, "There's a power behind making your bed every morning. Learn to do the little things well, learn to make your bed right. And that transcends into a lot of other things you do."

His book, Make Your Bed: Little Things That Can Change Your Life ... And Maybe the World, discusses his theory of how starting your day off by accomplishing a doable task, like making your bed, sets the tone for the rest of your day. When you have a sense of accomplishment early on, you create a sense of momentum that will build and help you tackle more complex tasks with gusto.

So give it a try. For the next three months, start your day by making your bed. See if that doesn't translate into significant progress toward completing those resolutions by Labor Day.

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This article is from Toni Husbands of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

7 Clever Tricks to Make Your New Year's Resolution Stick

Max Wong — Thu, 11 Jan 2018 10:00:07 +0000

Another year, another list of New Year's resolutions that most of us will be unable to keep. The problem with resolutions is that they require a tremendous amount of mental processing power to get from point A to point B. You not only have to begin with over-the-top motivation, but you also need to stay that way. (See also: 4 Money Resolutions Anyone Can Conquer)

When you overtax your brain by trying several new things or adopting new routines at the same time, you subject yourself to cognitive overload, which can result in reduced productivity, and lead to anxiety.

Luckily there are brain hacks and workarounds that you can use to fine-tune your resolutions and ultimately achieve your goals.

1. Simplify your goal

If your New Year's resolution is so complex and grand that it requires a checklist, you are stacking the deck against yourself. Keep it simple. Don't choose an ambiguous goal like, "Save Money." Instead resolve to turn one good financial behavior into a habit. For example, "I will open my bills as soon as I get them and pay them promptly." (See also: Why You Need to Make Financial Habits, Not Goals)

2. Avoid multitasking with your resolution

Most resolutions are not one goal, but sprawling, impossible-to-schedule projects with hundreds of moving parts. But successful resolvers are the people who make one actionable goal and put it into practice until it becomes a regular routine they don't even need to think about. For example, instead of making your goal to “lose weight,” resolve to always drink water instead of soda, and watch as your overall health improves with that one new habit.

3. Don't overschedule yourself

It's hard to stay motivated, to do anything, over a long period of time if you have to continually start and stop due to scheduling issues. One of my goals in 2017 was to reduce my number of personal belongings down to 1,000 items. I failed to meet this goal because the scope was too big. I didn't lose my desire to downsize, but my revised goal for 2018 is to spend one hour each day listing items for sale online. I may not widdle my belongings down to my target number in the next 12 months, but I will succeed in reducing the number of things I have to spend time dusting, and I'll even make some additional cash. (See also: 7 Ways to Make Money Off of Your New Year's Resolutions)

4. Reward yourself along the way

People that have successfully maintained their weight loss know that cheat days are a key part of their success. If you never reward yourself for good behavior, then the healthy habits start to feel like punishment.

However, unlike weight loss — which has visible results that can be validated by peers — no one is going to tell you how cute you look in your new 401(k). While financial responsibility should be its own reward, saving money generally involves a certain level of deprivation. So if your resolution involves saving money, give yourself the ability to splurge in a structured way. For example, give yourself $50 to spend selfishly for every $1,000 you put into savings. (See also: 21 Frugal Ways to Reward Yourself Right Now)

5. Practice, practice, practice

It only takes 13 days to make a new habit. Or 21 days. Or 28 days. Or close to 70. Really, it depends on who you ask. Don't despair, though, because it really is possible to create a new habit; it's just easier if you follow three steps.

Choose a small action

"Lose weight" is not small. Instead choose a tiny component to losing weight, like, "I will take a 30-minute walk five days a week."

Attach it to an existing habit

The easiest way to make a new habit stick is to attach it to an existing habit. For example, if you drink coffee each morning, walk to a nearby coffee shop to get your 30 minutes of walking in. (See also: The Surprisingly Easy Way to Change Your Habits and Your Life)

Create multiple reminders

You have to make your new habit super easy to remember, especially during the first week. Make your new routine as mindless as possible by setting up multiple reminders to get it done. Swap out your regular coffee mug with a travel thermos that will remind you to get your coffee down the street. Ask your coworkers if they want to join your "Walk to Coffee Club" so they can keep you accountable. Wear a fitness tracker, or set your phone to prompt you to walk for 30 minutes each day. Write, "Why aren't you walking?" on the lid of your to-go coffee cup at home. (See also: The Productivity Secret That'll Change the Way You Work)

6. Find a buddy

Why is it so much harder to break a promise to someone else than it is to break a promise to yourself? It will be much easier, and way more fun to keep your resolution if you have an accountability buddy to commiserate and compete with. (See also: 6 Surprisingly Simple Ways to Motivate Yourself)

7. Focus on timing

New Year's is a totally arbitrary start date for practicing new habits, so why not start a resolution when your schedule best matches your end goal? For example, why not start working toward your savings goal the day after Tax Day? If you've done your taxes for the previous year, you're already caught up on your accounting and have a fresh view of all your finances.

Or, if your goal is to lose weight, why not start your new healthy habits at the beginning of spring, when you have your choice of fun, outside physical activities to enjoy, rather than in the dead of winter when you'll be stuck inside using the machines that you hate at the gym? If you give yourself a running start, you are more likely to maintain your new practice for one calendar year.

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This article is from Max Wong of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

7 Reasons to Get Spring Cleaning Done During Winter

Kentin Waits — Thu, 04 Jan 2018 09:00:09 +0000

Spring cleaning — it's a timeless tradition that makes perfect sense … until you think about it for a minute or two. Why does everyone wait until spring to start that deep clean? Wouldn't winter be a more ideal time to tend to all things indoors? Let's turn this unquestioned custom upside down. Here are seven reasons to get spring cleaning done during the dark and dreary months of winter.

1. Baby, it's cold outside

With fewer reasons to be outside, winter gives us more time to focus on the inside of our homes. This is the season for nesting, and cleaning is an essential part of making our nests as comfortable as possible. (See also: 7 Ways to Prepare for Spring Cleaning)

2. You're organizing new stuff anyway

If you're like most Americans, you probably have loads of new trinkets and gadgets coming into your homes during the holidays. As long as you're organizing your haul, why not clean out your closets, rearrange the attic, and clear out the garage to make room for your new toys?

3. It's the giving season

Organizing, decluttering, and donating — they all work together in perfect harmony. Wintertime is the time to give away cold-weather gear your kids have outgrown, clothes you don't wear, and household items that could brighten the lives of those in need. (See also: 12 Ways a Deep Declutter Can Improve Your Life)

4. And the season of getting sick

Stuffy noses, sore throats, and sneezing — they're all part of the magic of the chilly season. But a thorough winter clean can help you keep the nastiest germs and viruses at bay. If your family is already under the weather, a deep clean can prevent a second round of sickness.

5. Everyone's home

With everyone home for the holiday break and the following snow days, it's much easier to declutter. Get the whole family involved; decide together which items can go and which should stay. Then, assign each person a simple cleaning chore and make short work of long to-do lists.

6. It's the right way to ring in the new year

New Year's is all about fresh starts. Clear your mind by clearing out the accumulation of years past. A spotless, clutter-free, and organized home is the perfect place to discover what's next for you and your family. (See also: 31 Things to Do in January to Start the New Year Off Right)

7. It'll be on your mind until you get it done

Spring is still a few months away. However, you know you'll have to buckle down and get this time-consuming deep clean done eventually, so why not cross it off your list now? Completing necessary tasks early will make you feel accomplished, stress-free, and will keep you motivated to keep checking those boxes and chasing your New Year's goals.

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This article is from Kentin Waits of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

7 Ways to Make Money Off of Your New Year's Resolutions

Mikey Rox — Fri, 29 Dec 2017 09:00:08 +0000

You'll probably set several New Year's resolutions this year, but "Make More Moneeeeeeey!" should be at the top of that list. How can you do that? By hitting the ground running on January 1 with these cash-earning opportunities that sometimes kill two birds with one stone. Here's to a happier, healthier, flusher-with-cash you in 2018.

1. Get in shape by walking dogs

Combine your love of adorable dogs with your desire to get healthier by joining Rover or Wag!, two sites that will help you set up a dog-walking side gig. Rover is the nation's largest network of dog sitters and walkers, and it'll help connect you with those looking for occasional care of their pets. I'm a member of Rover myself, and I've made several thousand dollars this year pet-sitting and playing with local pups. It's the perfect side-hustle for people who want to get more exercise, get outside more, and save some extra money after the expensive holiday season. (See also: How to Make $400+ a Week as a Pet Sitter)

2. Help name startup businesses

There are several online services (like Upwork and Truelancer) that can help you advance your creative freelance career, but Squadhelp.com gamifies the brainstorming experience with a decent payoff.

"If your NYE resolution is about finding a more productive use of your time, you might want to consider Squadhelp.com," says the site's founder Darpan Munjal. "You can spend couple of hours every day helping startups find great names for their businesses. You not only channel your creativity in helping real companies find great names, you also win cash prizes (ranging from $100 to $500) every time your name is selected."

3. Declutter by selling your unwanted stuff

If your goal in the New Year is to cut the clutter and free up more usable space in your house, there are several options to do just that while pocketing some dough. I've had a lot of success listing my in-good-condition junk on the Letgo app, but I also have friends who swear by Facebook Marketplace, both of which help you promote your secondhand wares to local buyers. (See also: 9 Ways to Make Money From Holiday Gifts You Don't Want)

To maximize your selling efforts, heed this advice from Letgo's head of communications, Jonathan Lowe:

Take clear, quality photos

Taking a few seconds to dust your coffee table or iron a pair of pants will make them much more attractive to buyers. Choose an angle and spot with good lighting and an uncluttered background. Put smaller items like headphones or jewelry on a solid color surface and take a photo from 45 to 90 degree angles. Make sure the item's in focus, and post a few shots from different angles.

Be transparent

Tell buyers upfront and include photos of any wear and tear on your item. Most buyers won't be concerned with a small scratch or frayed hem, especially if the price is right, but no one wants to feel like they've been misled.

Do your homework

Check out what other sellers are asking for similar items and price your items competitively.

Reply quickly

Turn on push notifications so you can reply as soon as buyers message you. Be courteous and answer any questions they might have.

Offer a package deal

Things like video games, vinyl records, art supplies, toys, and even jewelry often attract more interest as a set. (See also: Make Money and Declutter by Selling These 5 Unlikely Treasures)

4. Self-publish your book

I'm currently writing a book about how to be a successful Airbnb host, and I haven't considered reaching out to a major publisher because self-publishing seems more attractive to me. Here's why: Self-publishing gets your book in the hands of readers quickly. In fact, you may want to pursue this avenue as a way to extend your audience for a book you've already published. Self-publishing can award you with about 70 percent royalty (depending on the price you charge readers for your book), which could provide you with passive income for years to come. Something to investigate at least. (See also: 3 Real Costs of Self-Publishing a Kids' Book)

5. Use technology to fine-tune your personal finance

I've sung the praises of my well-used cash-back apps like Ibotta and Checkout 51 over the past few years (I've made several hundred dollars using them), but there are other ways keep your personal finance in check while earning money or rewards, like The Birch Finance app, which makes it easy to analyze your past transactions and actively monitor spending to recommend the best cards to use for max rewards.

I'm also into Paribus right now, which links to your accounts at retailers like Target and Amazon and helps you find money based on price drops on your recent purchases. It'll send you an email when there's money waiting for you so you can claim it. Easy-breezy. (See also: 7 Apps That Actually Pay You to Shop)

6. Achieve goals with monetary encouragement

I feel a little weird about Goal Goodies — which is like a GoFundMe campaign for your health goals — but it could be a helpful way to keep your resolutions on track while making money. Essentially, you create your page and set your health goal (losing weight, quitting smoking, etc.) and then invite family and friends to pledge money to help keep you motivated. (See also: 6 Apps That Pay You to Work Out)

7. Clean out your garage and rent out the space

You know all about Airbnb by now, but if you're not comfortable renting out your home to strangers, maybe you'll consider renting out your garage to strangers' vehicles. After you clean it out and make it all pretty, STOW IT will help connect you with users who need a place to store their vehicles for a monthly fee. Imagine getting paid to let a car sit in a space that was designed for cars and not all those piled-up cardboard boxes! I think it's an awesome idea, and I'm little miffed that I don't have a garage to offer myself. I'll just live vicariously through yours.

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This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 New Year's Goals Every Freelancer Should Make

Kentin Waits — Wed, 20 Dec 2017 09:00:07 +0000

It’s part of the magic of the season — each new year is a chance for a new beginning. For those of us who freelance, this time of year is particularly important. It’s a moment to reflect on what’s going right in our businesses, what needs improvement, and what goals should shape the next 12 months. In short, it’s time to plan for the care and feeding of our self-made careers. With that in mind, here are eight New Year’s goals every freelancer should make.

1. Build your brand

No matter how small the enterprise, branding matters. If you haven’t established a brand for your freelance business, resolve to do it this year. Remember, a brand is more than a logo and tagline; it’s also the experience clients have with you.

If you’ve already established a brand, apply it consistently and flawlessly online, in all printed material, and in person. Remember, the goal is to make sure clients keep your business top-of-mind and recommend your services without hesitation.

2. Update your LinkedIn profile

LinkedIn has established itself as the social networking hub for all things employment-related. Its network connects professionals in nearly every field imaginable — and many of them are in desperate need of freelance help. If your LinkedIn profile is out of date, sloppy, or incomplete, it reflects poorly on you and your business. Update it ASAP. (See also: 7 Things You Should Never Do on LinkedIn)

3. Learn a new skill

Regardless of what field you’re in, markets never stand still. Changing technologies, new tools, and shifting tastes all demand that freelancers adapt or die. Stay competitive by sharpening your current skills; stay engaged by learning new ones. (See also: 10 Things All Successful Freelancers Do)

4. Expand your network

Freelancing can be isolating, especially for those who work from home. A strong network of colleagues will keep you engaged socially and plugged into new professional opportunities. Devote an hour or two each week to expanding your network through social media, blogs, and industry events. (See also: 11 Ways Freelancers and Telecommuters Can Make Friends and Network)

5. Ditch toxic clients

Take a critical look at your project list for the past couple of years. Are there clients who consistently paid late? Had endless demands and unreasonable deadlines? They’re likely costing your more money than they bring in. Free yourself by phasing out chaotic professional relationships. But be diplomatic; bad clients often employ good people and you never know where those folks may land.

6. Bump up your rates

For many freelancers, it’s tempting keep rates low to draw in more business. But over time, this loss-leader strategy can do more harm than good. Not only does it keep you at a financial disadvantage, it implies your services aren’t as professional or in-demand as your competitors’.

Assess what price the market can bear and adjust your rates accordingly. Communicate the increase clearly in writing and give your clients at least 60–90 days notice.

7. Make time for downtime

When you work for yourself, the boundary that separates your personal and professional world can get a little fuzzy. This year, establish (and stick to!) a more formalized schedule — one that allows for real downtime and breaks from client calls, email, and paperwork.

8. Save for retirement

Without access to employee-sponsored retirement programs, freelancers must take the lead on saving for the future. Roth, traditional, and SEP (Simplified Employee Pension) IRAs each have distinct benefits and limitations. Choose the one that works best for you and make regular contributions — starting now. (See also: A Simple Guide to Retirement Plans for the Self-Employed)

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This article is from Kentin Waits of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Flashback Friday: 87 Frugal Ways to Make Winter Less Miserable

Chrissa Hardy — Fri, 13 Jan 2017 10:30:30 +0000

Winter is a dreary, dark time. The sun rarely shines, and you can barely wade through the white mess on the ground without getting your feet and pants soaked. But never fear. You can turn that S.A.D.-induced frown upside down. Here are 87 ways to make winter less miserable.

5 Ways to Prevent the Winter Blues from Busting Your Budget — Seasonal Affective Disorder puts you in a very vulnerable state of mind during the winter months. This can naturally lead you to making all sorts of ill-advised decisions, especially when it comes to your finances. Use these tips to keep you armed with a plan to fight those habits.

9 Frugal Winter Activities to Keep Kids Busy During Holiday Break — When the kids are home during holiday breaks or snow days, it's hard to know what to do with them to keep them busy and entertained. These activities are fun and cheap, so everybody wins.

8 Frugal Destinations for a Dreamy Winter Getaway — Wanna get out of the snow? Plan a trip to somewhere idyllic and in your mind, you'll already be there. It doesn't matter if the trip is weeks or months away. Having something to look forward to will instantly boost your mood.

5 Investments That Do Better in Winter — Sometimes, money actually can buy happiness. Especially when money turns into even more money. Put your cash in these stocks and you could have a nice little cushion by the time spring arrives.

50 Fun Things to Do When You're Stuck Inside During Winter — Life isn't so bad when you can curl up by the fire and read a book or take a nap. The weather outside might be frightful, but these indoor winter ideas are all kinds of delightful.

5 Awesome Staycations You Should Take Before Winter Ends — Before the snow melts, embrace your indoors-y side and have a nice little staycation. You'll feel bad about doing this when the weather outside is warm and beautiful, so take advantage of it now.

This article is from Chrissa Hardy of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Flashback Friday: 51 Ways to Organize Your Whole Life in 2017

Chrissa Hardy — Fri, 06 Jan 2017 10:30:31 +0000

There are tons of resolutions you could focus on in the new year. You can get healthier, get in better shape, and focus on your career goals. But none of those goals are truly attainable if your living space is cluttered with stuff you don't want or need. The first step to accomplishing any goal is getting organized. So why not start there? Here are 51 ways to organize your life in 2017.

12 Smart Ways to Organize Old Photos — We all have stacks of old photos somewhere. And until you sit down and decide what to do with them, that increasingly dusty stack will remain on your to-do list. Do it now! These tips are super helpful.

14 Ways to Organize a Messy Closet — I have deep respect for anyone who constantly maintains a clean closet, because… how? But that feeling of pulling out the stuff you no longer wear is such a wonderful form of freedom. Do not underestimate it.

Organized People Have These 5 Things in Their Homes — Do You? — In order to become successful at organization, you might as well learn from the pros, right? And these five items can be found in every pro-organizer's home. Are they in yours?

8 Easy Ways to Keep Your Family Organized — You can't accomplish any of your goals — organization-related or otherwise — if your entire day is packed with familial responsibilities. Get everyone else's schedules down on paper and then you'll have a much easier time organizing yours.

How to Organize Your Paperwork in Just 10 Minutes a Week — Even in the digital age, paperwork can easily pile up. And nobody wants to tackle that stack after a month of putting it off. If you do this each week, for only 10 minutes, your desk will always look clutter-free.

7 Ways a Mindfulness Journal Can Fix Your Life — For some people, getting organized starts with the right mindset. When you start using a mindfulness journal, you become so much more aware of your moods, thoughts, and priorities. Then you have more room to live a happier life. Give it a go!

This article is from Chrissa Hardy of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Flashback Friday: 76 New Year's Resolutions That'll Make 2017 Your Year

Chrissa Hardy — Fri, 30 Dec 2016 10:30:30 +0000

There's no dancing around it — 2016 has been a garbage year. Most of us are ready to enthusiastically wave goodbye to it on New Year's Eve and usher in a fresh start. And even though most resolutions are abandoned by February, if you incorporate focused, realistic goals, your chances for success are far greater. So let's give it a go when the clock strikes midnight. Here are 76 New Year's resolutions that will make 2017 your best year ever!

15 Easy to Keep New Year's Resolutions That Really Pay Off — The smartest way to make goals that will stick is to make them easy. If they're difficult and vague, you won't be motivated enough to keep them. These are all easy, focused, and will make your life so much better.

Successful New Year's Resolutions Have This One Thing in Common — Does Yours? — The secret to achieving these holiday goals is to understand why the successful ones actually work. This breaks down the one thing all successful resolutions have in common. Make sure it's part of yours, too!

4 New Year's Resolutions Your Pet Wants You to Make — Your pet lives for you. They think you're the best creature on this Earth. So why not consider what they'd want for you when making your annual list of resolutions? Seeing your dog with that goofy grin will be more than worth it.

23 Frugal Living Resolutions Anyone Can Master — Living frugally is a trend that will never go away. We could all spend less money and buy fewer things. All of these brilliantly simple resolutions incorporate the frugal mindset. A little saving can go a long way.

8 Personal Finance Resolutions Anyone Can Master — Money. We all need more of it. Living paycheck-to-paycheck is a miserable way to live. Taking these small steps to building your financial cushion will give you financial freedom, and ultimately, a better life.

25 Small New Year’s Resolutions You Can Start Today — Why wait until the ball drops? Get started on your resolutions now! These steps are all small and easy-to-make. After all, the early bird gets the worm, right?

This article is from Chrissa Hardy of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

17 Reasons to Look Forward to 2017

Mikey Rox — Fri, 30 Dec 2016 10:00:14 +0000

As I often do before I write anything, I asked my Facebook friends some of their suggestions on the topic at hand. I should've known better this time. Because when I posed the question, "What are some of your reasons to look forward to 2017?" I received responses like, "The apocalypse" and "Trump's impeachment."

I digress.

Rest assured, however, that I didn't take their advice. Instead, I'm including only positive entries, devoid of partisan politics, because that's what we all need right now — hope, happiness, and the pursuit of anything that isn't 2016. Yep, it was a terrible year by most accounts, but it's almost out of here. So let's rejoice and look to the future. Here are some awesome things to get excited about in 2017. (See also: 8 Personal Finance Resolutions Anyone Can Master)

1. It's Not an Election Year!

I don't know about you, but I was tired of hearing about Hillary Clinton and Donald Trump around March. Of course, the vitriol surrounding the election didn't get much better as the months passed — or even after Trump was elected. In fact, it seemed to get worse. I'm keeping my fingers crossed, though, that people on social media have expunged all the frustration sufficiently over the past two months, and are now committed to concentrating on more important things next year. If not, I think I'll have to hit the block button.

2. Lots of New Movies and Music

Each New Year brings 12 months of new-release movies and music. What are you looking forward to this year? Personally, I'm ramped up about AMC Theatres' Best Picture Showcase in February, a two-day event that I've attended the past several years to watch all of the Oscar-nominated films back to back before the Oscars. I purposefully avoid any film that has Oscar buzz so I can enjoy the fest in its entirety. I highly recommend checking it out. Looking ahead, I'm lining up for sure-to-be blockbuster films like The LEGO Batman Movie, Alien: Covenant, and Baywatch, along with some of the sleeper hits that will inevitably go viral. As for music, I'm preparing my iTunes for album releases by Tinie Tempah, Fergie, Iggy Azalea, Major Lazer, and more.

3. Paying Down Your Debt

Have you been paying your debt down consistently to a more manageable amount in 2016? Make this the year that you completely obliterate it. If you've been putting it off, attack it aggressively to unburden yourself. You'll be thankful you did. (See also: 5 Ways to Pay Off High Interest Debt)

4. More Affordable Taxes

President-Elect Trump's tax plan gives most Americans a break on what they're currently paying, according to Fortune. His simplified tax code turns seven brackets into three and raises the threshold at which workers begin to pay income tax. In addition, many married couples will see their taxes reduced substantially. Something to look forward to if the new tax code falls in your favor.

5. The Release of the 10th Anniversary iPhone

Can you believe it's been nearly a decade since the iPhone single-handedly revolutionized the way we use mobile devices? For its 10th anniversary, expect a big reveal and, likely, a completely new design. Rumored features include a glass body, edge-to-edge OLED display with an integrated Touch ID fingerprint sensor, plus a game changer or two, like wireless charging.

6. Summertime

I live by the beach, and my favorite season is summer. I love everything about it — exercising outside, walking the boardwalk, visiting amusement parks, grilling in the backyard. I'm getting excited just thinking about it! Have you started thinking of your summer plans yet? If you plan to travel, winter is a great time to score deals on future getaways.

7. The World Expo

After taking a couple years off, World Expo 2017 will commence on June 10 in Astana, Kazakhstan, with the theme "Energy of the Future." Thus far, 101 countries are participating.

8. A Total Solar Eclipse

A total solar eclipse will take place on Monday, Aug. 21. It will be the first solar eclipse visible from the United States since July 11, 1991, which was seen only from part of Hawaii. The longest duration of the eclipse will be two minutes 41.6 seconds, with the best viewing in Carbondale, Illinois. Just don't look directly at it, okay?

9. Your Vacation

Do you have a vacay on the books? Start planning where you'll stay and all the fun activities you want to do. It takes me hours and hours of planning to create an amazing vacation. I'm big on activities to create memories, and I like to compare prices and search for discounts to get the best deals. Happy hunting!

10. Making at Least One New Friend

I make several new friends a year — I actually set it as a goal — because I like to keep my social life active and interesting. Broaden your horizons by joining a social sports group, signing up for fitness classes, taking an art or music lesson, or becoming a member of a group that interests you.

11. Learning Something New

I'm sure you'll learn plenty of new things this year, but you have to make a conscious effort to learn anything important, like a new skill or a more efficient way to do something that takes up time or money. Decide what you want to learn and make it happen.

12. The First Human Head Transplant

Despite how you may feel about it, the first human head transplant will likely be performed this year. Italian neuroscientist Dr. Sergio Canavero and Chinese surgeon Dr. Xiaoping Ren are expected to remove the head of a Russian man named Valery Spiridonov who suffers from Werdnig-Hoffman Disease, and reattach it to a donor body. The procedure is dogged by controversy, but if it's a success, it will go down in history as the most important medical advancement thus far.

13. Stranger Things Season 2 Is Coming

If you were a fan of the Duffer Brothers' love-letter supernatural series to the 1980s, you'll be happy to know that a nine-episode second season of Stranger Things will be released on Netflix in 2017. The new narrative will take place about a year after the first season's events and will explore the "bigger mythology" of Will's disappearance.

14. Carving Out More "Me" Time

Seriously, give yourself a break. See more movies by yourself, take a nap every once in awhile, go grab a cup of coffee, and read a book or magazine in the café. Just love yourself more often. You deserve it.

15. Adding a New Revenue Source to Your Income

I live by the philosophy that you should always have two sources of income. I truly believe it's the only way you'll get ahead in life, especially if you like to do things like go out to dinner or on vacation. In addition to a full-time career, I supplement my income by watching other people's pets via DogVacay, renting out my homes on Airbnb, and driving people around town with Uber and Lyft. There are many, many ways that are not limited to my suggestions that you can put more money in the bank this year.

16. Finding Joy

We live in a world of negativity, it seems. Everywhere we turn, it's bad news. But that's perhaps because we're actually looking for the bad news, like on social media where all people seem to do is complain about things they can't change and otherwise lament their lives. Shun that mentality this year and find joy for yourself. Maybe that means taking a social media hiatus, but do whatever you've got to do. There's still happiness left in the world, if you know where to look.

17. Committing to a Healthy and Productive Lifestyle

Go to bed early and wake up earlier. Stay on track with your fitness. Drink water and eat healthy. Do these three things for yourself and I promise you that so many other things will start to fall into place. Just stick to it and you'll see the results. I promise.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

23 Frugal Living Resolutions Anyone Can Master

Max Wong — Thu, 29 Dec 2016 10:00:21 +0000

Ooooooooh! I love a good challenge, don't you?

Every year, 50% of Americans make a New Year's resolution. But each year, 88% of New Year resolvers fail to meet their goals. How is that possible? And how can we beat that disheartening statistic?

Do Less, More Often

The problem with most resolutions isn't too little willpower, but too much abstraction. Most people choose a gigantic, but vaguely defined, goal to achieve. Too many moving parts, mission creep, a steep learning curve; these things are obstacles to attaining goals. The key to success is to make the goal a small, but achievable habit. To quote Tim, my yoga teacher: "Do less, more often."

For example, I am currently trying to lose the 15 pounds I packed on this past year while recovering from an ankle injury. If I want to be successful in my goal to lose weight, my New Year's resolutions should not be, "Get back in shape." That's a huge and amorphous mandate. Instead, my New Year's resolution should be a tiny daily habit like, "Jump rope for 20 minutes every morning before breakfast."

Plot twist: My New Year's resolution isn't actually about losing weight. My resolution this year, as it is every year, is to save more money.

Choose a Resolution That Requires No Talent

"Save more money" is about as undefined and unwieldy as you can get with a New Year's resolution. There are so many things that can throw a wrench into your plans and destroy your motivation to save in the course of 12 months. Trust me, this resolution is dumb.

If you want to grow your savings, simplify your life, or just live a little lighter on the planet, here's a list of simple, frugal living resolutions that require no talent.

1. Don't Drive Like a Jerk

It was a word problem on a 7th grade algebra exam that taught me that speeding wastes money. Aggressive driving (speeding, rapid acceleration and braking) can lower your gas mileage by up to 33%. Stop speeding and practice hypermiling instead.

2. Carpool

My husband saves thousands of dollars each year by carpooling to work. But don't limit your carpooling to just your daily work commute. You can save a ton of money by using a rideshare service to carpool home for the holidays or to a cultural event in another city. My awesome neighbor Patria and I carpool our errands at least once a week. It saves time, money, wear and tear on the car, and makes boring trips to the post office way more fun.

3. Go Carless for Short Trips

I try to walk, bike, or take public transportation to all events within a three-mile radius of my house. This habit saves me on gas money and allows me to avoid a costly gym membership. The hardest part about this practice is the time management. I no longer have to schedule around my workout, but it takes me much longer to get to the grocery store.

4. Stop Paying to Park

The hardest thing about driving in Los Angeles is not the traffic, but the parking. The city makes up its budget shortfall by aggressively doling out parking tickets, which start at $35 and go up from there. Parking signs are notoriously difficult to parse, of course.

The key to saving money on parking is to give yourself extra time to find a free or cheap parking spot, so schedule that into your day. Also, there have been manifestos written about how to park on a budget in LA. I am sure parking apps and maps exist in other cities, too.

5. Be on Time

It takes absolutely no talent to be on time. There's a reason why the saying, "Time is money," is a thing. Even so, American CEOs are late to 80% of their meetings. According to a survey by Proudfoot Consulting, CEO tardiness costs the U.S. economy $90 billion in lost productivity every year.

But, even if you aren't a captain of industry, lateness is a money loser. Worst case scenario, you could get fired. As the job market becomes more competitive, more companies have decided to take a zero tolerance stance against employee tardiness. Your boss might be able to show up late, but you could lose your job.

Also, being chronically late says a lot about you, and none of it is good.

6. Get Rid of 10 Things a Day

Clutter will keep you poor and drive you crazy. My November 1, 2001 Resolution was Get Rid of 10 Things a Day. I keep clutter at bay by removing 10 things from my home every day. That comes to 300 things per month, or 3,650 things per year, that leave my house. A thing can be as big as a car or as small as a safety pin. I can trash, donate, or recycle a thing. As long as the item physically leaves my house, I can count it as part of my 10 things.

7. Mari Kondo Your Home

Japanese organizing guru Mari Kondo has taken the world by storm with her very simple method of managing clutter: Only keep the things that bring you a spark of joy. (Anything that doesn't bring you a spark of joy gets tossed.)

8. Downsize Your Storage

If your goal this year is to downsize, you should definitely start by emptying your storage.

If you have ever watched Storage Wars, then you already know that most people pay a lot of money to store a lot of worthless crap. Personal storage is a huge money drain. Do the math. It might actually be cheaper to buy and then sell seasonal items like sleds and garden tools each year rather than paying to store them during the offseason.

9. Join the Compact (Buy Nothing New for One Calendar Year)

I joined The Compact in 2007 out of green guilt. Almost 10 years later, I am still a subscriber to this conservation movement. In addition to helping me live a more environmentally sustainable life, it has also helped me save over $30,000. Also, it's a super fun challenge that has taught me so much about myself!

The core idea behind The Compact is to lighten your environmental impact on the planet by reducing the number of virgin resources you take out of it. You achieve this by agreeing to step off the consumer grid and buy nothing new for one calendar year, save for necessities like food, medication, and safety supplies.

While buying nothing new sounds like deprivation, it's really more like a treasure hunt, because you can buy anything you want used. Under Compact rules, you could buy vintage furniture, or used clothes, or even a classic automobile, because none of these items are new.

It's a super simple idea that runs deceptively deep, as sourcing used goods upends modern life's push for instant gratification.

10. Create a Capsule Wardrobe

While fashion bloggers on Pinterest and Tumblr might lead you to believe that a capsule wardrobe is all about shopping for the perfect minimalist wardrobe, I would argue that those people are doing it wrong. A true capsule wardrobe is a tightly edited collection of garments that fit your lifestyle, year-round.

A capsule wardrobe shouldn't be about perfection, but about creativity and practicality. How many outfits can you create out of the smallest number of garments?

Since most people only wear a fraction of the clothes in their closets, downsize to the favorite items you wear over and over and get rid of everything else. Replace only your favorite garments when they wear out. Your new, smaller wardrobe will save you money and time.

11. Shop in Your Own Home First

Before you make a purchase, search your home first for an alternative that you can use instead. Can you make do with a navy blue dress instead of a little black dress? Can you learn how to cook on the stovetop instead of replacing your broken microwave with a new one? For the love of all that is good and beautiful, can you watch an instructional video to learn how to make your own fancy coffee at home for 10 cents versus buying it for $2.00?

12. Be a Part-Time Vegetarian

Meat costs a lot of money and is hard on the planet. The Meatless Monday Movement found that by cutting meat consumption to just one day a week saved participating families $80 per month on their grocery bills. Save even more by going meatless several days a week.

13. Eat Your Leftovers!

My sister and I grew up eating last night's dinner leftovers for breakfast. In addition to cutting food waste, eating leftovers also sped up the morning schedule because on most days, we didn't even bother reheating the food. This weird, frugal hack has saved my sister and I a small fortune in food costs.

A lot of people who hear about our dinner for breakfast habit are grossed out. Of course, these same people probably have no problem with eating dinner for breakfast as long as they pay a lot of money for steamed table food and call it brunch.

If dinner for breakfast doesn't float your boat, make Thursday Night Soup out of your kitchen scraps to stretch your grocery budget and keep your fridge compost-free.

14. Bring Your Lunch to Work

My husband has saved over $2,500 this year just by bringing his lunch to work instead of going out to eat. My husband doesn't feel deprived or shamed by his brown bagging. A brown bag lunch doesn't have to be boring. My husband takes great pleasure in preparing elaborate meals for himself that cost pennies.

Alternately, if you have a favorite food, eating the same lunch every day can be a comforting ritual that saves a lot of time. Jennifer Aniston and Courteney Cox famously ate the same salad for lunch for 10 years. My mother, who is an excellent cook, loves peanut butter and jelly sandwiches so much, that she has special refillable tubes that allow her to take her favorite lunch ingredients with her when she goes camping. Eating the same lunch each day also makes it easy to save money on groceries. You can budget down to the penny what your lunch costs and buy the ingredients when they go on sale.

15. Use Less

This one is easy. Just use less. If you use half the amount of detergent, will your clothes still get clean? Can you split an entree at dinner with a friend and still feel full? What would happen if you just lathered and rinsed, but didn't repeat?

16. Save Water

Is your water bill sky high or would you just like to do your part to preserve the water table? It's time to plan out your water-saving plan.

17. Save Electricity

Turn off those lights! Make these energy-saving strategies part of your daily life and save big.

18. Cut Down on Your Trash

The average American generates 4.4 pounds of trash per person, per day. You can do better! Here are 12 ways to cut down on garbage and save money (and your sanity, too).

19. Recycle

Before I was old enough to legally work, I earned pocket money by collecting bottles and cans and recycling them for money. As an adult, I still make several hundred dollars a year recycling the bottles and cans that my wino neighbors throw onto the parkway. Yes. It might be embarrassing to cruise target-rich public areas like fraternity row or the trash cans outside your local concert venue for recyclables. But, if you are scrambling to make ends meet, consider the cost of your vanity. There's at least one Los Angeles family that sent their three kids to college with the money they made collecting bottles and cans.

Recycling is obviously good for the wallet. But, if you already recycle for the money, consider recycling items that don't offer a rebate for the sake of the planet. An increasing number of companies are now offering free recycling for their packaging.

20. Keep Making Payments

My husband and I finally paid off our home equity line of credit! We've been making the $423 payments each month for over a year now, and we intend to continue paying the $423… but as extra principal payments on our home mortgage. Since we're used to covering the $423, we won't even notice a difference in our budget.

21. Collect the Change

Every time you get a $5 bill, put that money into your savings account. If your budget won't permit $5 increment savings, put your spare change into a piggy bank at the end of each day. Either way, your savings will pleasantly surprise you at the end of the year.

22. 52-Week Challenge

This savings strategy has a slow roll out, but strong payout. Every year is divided into 52 weeks. On week one, put $1 into your savings account. On week two, put $2 into your savings account. On week three, save $3. You get the idea. The largest weekly deposit you will have to make is $52. At the end of the year you will have saved $1,378!

23. Learn and Practice One New Skill

I didn't become a ninja saver overnight. Every year I try to master one new skill that will make or save me more money. One year, my friend Carol Ann taught me how to can my cranberry jam, and now I own an artisanal food company. This last year I learned how to forage for edible plants in my own backyard to save money on fresh produce. Years ago I taught myself how to sell online on Etsy and eBay. Each year I make at least $1,000 selling trash picked items that I have literally pulled out of the garbage, for cash.

In 2017, I am going to learn how to refinish wood furniture like a pro. With the help of my friend Kirk, a retired painting contractor, I am currently refinishing an original Jens Risom coffee table that was purchased for $3 at a garage sale and hidden under layers of paint. Modern reproductions of this same table sell for over $3,000 and originals in pristine condition go for even more.

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This article is from Max Wong of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Personal Finance Resolutions Anyone Can Master

Dan Rafter — Wed, 28 Dec 2016 10:00:11 +0000

Working on your New Year's resolutions? Unfortunately, an incredible 88% of New Year's resolutions fail. The big problem is that most people's resolutions aren't specific enough, or they're too ambitious.

Ready to get 2017 off to a good money start? Try out these eight financial resolutions. They're simple enough so that anyone can accomplish them in the new year.

1. Build a Household Budget

We know it doesn't sound like fun, but crafting a household budget is the best financial move that you can make in 2017. Why? A budget tells you how much money you should be spending each month on everything from groceries to eating out to streaming movies on Amazon. Without a budget, your odds of overspending will soar. Fortunately, making a budget isn't nearly as challenging as you might think.

2. Pay Down Your Credit Card Debt

Your credit card debt might look overwhelming, but paying down this expensive debt in 2017 is actually a fairly easy task — if you commit. There are several different ways you can attack your credit card debt, from paying off the cards with the lowest balance first to prioritizing those with the highest interest rates. (See also: The Fastest Way to Pay Down $10,000 in Credit Card Debt)

3. Build an Emergency Fund

What happens if your home furnace conks out? What if your car's transmission dies? Can you cover these unexpected expenses with cash? Or would you have to charge the repairs? If you have an emergency fund, you'll always have cash on hand to cover life's unexpected disasters. Financial experts say you should have at least six months' worth of daily living expenses saved in an emergency fund at all times. That might sound like a difficult goal, but you can build this fund as slowly as you'd like.

4. Cut Out One Unnecessary Expense

Vowing to cut your spending isn't the easiest New Year's resolution to keep; it's simply too vague. Instead, vow to cut one unnecessary expense from your routine. For instance, you might vow to stop buying coffee on the way to work, and instead brew your own java at home.

5. Boost Your Life Insurance Coverage

If you were to unexpectedly die, would you have enough of a life insurance payout to provide financial protection for your loved ones? If not, it might be time to boost your life insurance coverage. Fortunately, this is an especially easy New Year's resolution to keep: Just call an insurance agent.

6. Protect Your Things

Whether you're a renter or a homeowner, you need to make sure that you have enough insurance to replace the items in your home, should they be stolen or destroyed. Resolve in 2017 to meet with an insurance agent to discuss either homeowners' or renters' insurance.

7. Pay Your Bills on Time Every Month

Want a sky-high credit score? Then pay your bills on time every month. Doing this will slowly, but steadily, cause your FICO credit score to rise. And a higher credit score will mean lower interest rates when you're borrowing money later.

8. Find a Better Savings Account

You might think savings accounts are a fairly boring place to stash your dollars. The truth, though, is that some savings accounts are better than others, and some provide far better interest. Make a resolution this year to find a savings account that will help you build your savings at a faster clip.

This article is from Dan Rafter of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

15 Easy to Keep New Year's Resolutions That Really Pay Off

Andrea Cannon — Tue, 27 Dec 2016 10:30:34 +0000

New Year's resolutions are designed to help you improve your life in the new year. However, the vast majority of us have a very hard time sticking to them past January. That's why we've found some small changes you can realistically make that will result in a big difference over time. (See also: 12 Frugal Skills You Must Have to Survive Mondays)

Fitness Resolutions

Two of the top three New Year's Resolutions of 2016 had to do with staying fit and losing weight. Fortunately, there are some simple changes that you can make in the new year that will help you achieve your fitness goals more quickly.

1. Set Achievable Goals

Set achievable fitness goals on a daily, weekly, or monthly basis. You aren't going to get that perfect body overnight, so set goals that you can realistically achieve. Reward yourself when you reach your milestones by taking a day off, paying for a special exercise class, or purchasing affordable new workout gear. Don't over think things, try not to get frustrated, and remember that fitness takes time.

2. Save Money On Your Fitness

Getting in shape doesn't have to cost a fortune. There are endless ways to get in shape for free, such as running, yoga, and hiking. You can even join a hiking group or find free yoga classes near you to shake up your workout routine and spend time with friends without breaking the bank. You can also find free workout apps, follow fitness Instagram accounts, or follow a YouTube fitness page for new workouts and inspiration. (See also: 13 Easy Ways to Save on Your Gym Membership)

3. Keep a Food Journal

Keeping a food journal can keep you on track and accountable for what you eat. By writing down every little crumb that you eat on a daily basis, you can look back every week and see what you need to improve on and how well (or how poorly) you actually eat. It can also encourage you to eat fewer calories, improve your health, and help you make positive dietary changes for life. Your doctor or personal trainer may have already recommended that you keep a food journal, and the new year is the best time to start.

Health Resolutions

For the new year, focus on improving your overall well-being by making healthy changes that you can stick to.

4. Skip the Snooze Button

Waking up earlier can help you achieve so much more every week. By cleaning, stretching, or completing one item from your "to-do" list during your extra time, you can get your day started on a more productive note. However, waking up earlier can be difficult, so try getting up early (or ignoring the snooze button) just one day per week.

5. Multitask More

During commercial breaks, try multitasking. Do a quick exercise set or quick clean during each commercial break. For the average 60-minute show, there are about 13-19 minutes of commercials. Imagine what you could get done with all that extra time.

6. Start Meditating

Meditating has dozens of health and stress-reducing benefits. It can help you sleep better, make better decisions, and refocus your energy in a positive way. If you aren't familiar with meditation, consider starting with breathing exercises or use apps like Headspace to get you started. (See also: 7 Ways a Mindfulness Journal Can Fix Your Life)

7. Exercise More

The Centers for Disease Control and Prevention recommend getting at least two and a half hours of exercise each week. This means that you should be working out about 30 minutes per day, five days per week. This is a very attainable goal that can have huge health and fitness benefits both in the short- and long-term.

8. Clear Away Clutter

Clearing clutter from your life will make you more organized and productive, can decrease stress, and can make way for new things in your life. (See also: How to Clear Out Financial Clutter)

9. Drink Water in the Morning

Drinking a glass of water first thing in the morning on an empty stomach is a great way to soothe the stomach, curb your appetite throughout the day, boost energy, and improve overall health. It can also help you detoxify the body and even lose weight, helping you stick to your fitness and health resolutions.

10. Volunteer More

Volunteering more often has countless benefits for both you and those you volunteer for. While others can benefit from your time, energy, and talents, you can feel good about yourself for your efforts. Volunteering also looks great on your job applications, can help you make new friends, and most importantly, you're helping to make the world a better place.

Financial Resolutions

In 2016, more than half of Americans had a finance-related resolution. Fortunately, there are some simple changes you can make that can result in huge savings.

11. Save Your 5's

Save all $5 bills in a designated jar or drawer. At the end of every month, apply them toward your debt, emergency fund, or retirement account. You'll be amazed at how quickly this adds up, and you won't feel a huge difference in your spending. This is known as "The $5 Savings Plan" and can help you save hundreds each month. Even if you only save one $5 every week, you'll save an extra $260/year.

12. Invest an Extra $35/Week

According to Dave Ramsey, by investing $35/week for 40 years, you can retire a millionaire.

13. Sign Up for Automatic Deposits

Consider signing up for automatic deposits to your savings account every month. The money will add up quickly and you won't feel like you're missing much.

14. Eat Out Less

Eating out less often will save you money and can even help you achieve your fitness goals more quickly. If you eat out all the time, just try cutting back on your morning coffee or to-go orders by one day per week.

15. Cut Expensive Habits

By cutting an expensive habit like smoking, you can save up to $2,321 per year. Not only is this great for your pocketbook, but it is also a healthy change you can make in the new year. (See also: Save a Surprising Amount by Quitting These 4 Bad Habits)

How to Stick With Your Resolutions

According to The University of Scranton, only 8% of Americans are actually successful in achieving their New Year's resolutions. To ensure that you're part of that 8% this year, write down your resolutions in a place that you can see them daily. Also, determine what measurable steps you need to take to accomplish these goals. Consider using a bullet journal to help you track your goals and monitor your progress.

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This article is from Andrea Cannon of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Refinance These 4 Common Debts Before Year Ends

Ashley Eneriz — Mon, 26 Sep 2016 10:30:07 +0000

The year is almost over, which gets many people thinking about New Year's resolutions. Perhaps you are recalling the resolutions you made at the beginning of this year and getting down on yourself for not saving more money and paying off more debt. "Next year," you promise yourself.

But if you refinance these four loans, you can get a head start on your financial goals and even sail into the New Year with a little less financial burden on your shoulders. Here are the top loans you should refinance, as well as a few tips to decrease your debt burden altogether.

Credit Cards

Does your credit card debt seem like it never goes down, even when you throw extra money at it each month? It's the interest rate. There are two ways that you can refinance your credit card balance and save money each month. The first is to refinance your debt with a low interest personal loan, like one through SoFi or Prosper.

This works well for individuals that have high interest credit card debt. A low-interest personal loan will allow you to pay off your credit card debt faster, but be aware that your monthly payments will be higher. This is because credit cards only require a minimum payment each month, which can be very low, depending on the debt. Keep in mind, however, that those low monthly minimum payments are what keep you in debt for so long. Therefore, when you switch the debt to a three- or five-year personal loan, you will be required to pay more each month.

Another popular way to refinance credit card debt is to transfer it to a promotional 0% balance transfer card. This will allow you to transfer your debt to a card that does not charge interest for the promotional period. To use this transfer to your advantage, divide the amount of debt you have by the number of promotional interest free months offered. For example, if you are transferring $10,000 of debt on a card that offers 15 months of 0% interest, then be prepared to pay about $667 each month to avoid interest charges at the end of the promotion. Do not use this card to accumulate new debt.

Mortgages

Mortgage rates remain historically low, but recent news shows that rates are slowly rising. If you are still battling with a mortgage rate higher than 5% or are paying PMI, now is the time to refinance.

Refinancing your mortgage can extend the life of your home loan, but it can also save you dramatically each year, especially if you are paying pesky PMI fees. Research the cost to benefit ratio, knowing how much money you will save each month. Also research to know if a 15-year mortgage makes financial sense. In many cases, switching to a 15-year loan is riskier for your budget, but other times it can be a small monthly increase that will pay off big time in reduced interest payments.

Car Loans

Americans owe a lot on their car loans. USA Today reports, "The total balance of all outstanding auto loans reached $1.027 trillion between April 1 and June 30." If you secured your auto loan through a dealer, there is a good chance you are overpaying for your car loan. Contact your local credit union for rates, and don't forget to research online for the best rates.

I have used two credit unions in the past to successfully secure an auto loan for less than 2.50%, and those credit unions did not have an actual building within 100 miles of me.

Student Loans

The burden of student loan debt is crippling millions of Americans. You don't need to live with your student loan forever. As long as you have good credit and are not in default with your loans, you have options. If you have federal student loans, then I strongly recommend looking into the forgiveness programs available. It might mean taking a less than desirable job for a few years, but if that job forgives a large portion of your student debt, then it could be worth more to you than a higher paying job. Other options include income-sensitive repayment programs, such as PAYE and IBR, which peg your monthly payments to your income level. Thus, if you're struggling to make a standard monthly payment, these programs set your monthly outlays at a more affordable level.

If you are not eligible (or a fan) of the forgiveness programs, refinancing your student loans is your next best option. Note that if you refinance your loans, you will be switching them over to a private lender. This means that if you have federal student loans, you will no longer be protected for federal loan repayment programs if you suddenly lose your job or face financial hardships.

SoFi is one company that offers student loan refinancing. Other notable companies to consider include:

Refinancing these common debts can help you pay less each month, as well as less overall. Use these refinancing strategies to get out of debt faster and take control of your finances.

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This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Ways to Restart Your Resolutions This Spring

Marla Walters — Fri, 22 Jan 2016 12:00:04 +0000

Sure, I resolved to "be better about flossing" and "do more crunches" in my list of resolutions for 2016. I even spoke my resolutions aloud in my work wellness group to reinforce ethem. And then, upon re-reading them, I wondered how long those goals would last. A little research told me that only 8% of people who make resolutions actually achieve them.

As it turns out, maybe New Year's just isn't the best time to make resolutions. Maybe we should all be waiting until the snow melts and the flowers start to bloom. Isn't that a better setting to tap into your motivated self anyway? Here are five ways to restart your resolutions this spring, so you actually achieve them.

1. Remember That Goals Can Be Made Anytime

We like to make resolutions in January, because it's the traditional time to do so, and that "new year, fresh start" feeling is palpable and contagious. By breaking free of that January tradition, you might be able to actually achieve success. According to StatisticBrain, the top New Year's Resolutions in 2015 were:

Lose weight
Spend less, save more
Enjoy life to the fullest
Stay fit and healthy
Learn something exciting
Quit smoking
Help others
Fall in love
Spend more time with family

Sure, it's easy to hop on the scale January 1 and resolve to move more and consume less, but when the days are short and your energy is at an all-time low, it can be tough to get motivated. Why not start that new fitness chapter of your life once the snow melts and when being outdoors is actually bearable?

And for "spend less, save more," wouldn't reviewing your financial goals after your taxes are done make more sense? That's a very natural time to review what you've done, and see where you need to work harder. April, then, could be a month to begin setting financial goals.

Many of these resolutions can be implemented at any point during the year. There is nothing magical about starting them in January.

2. Learn to Exercise Because You Want to, Not Because You Have To

A soon-to-be-published Duke University study found that measurement of exercise "Has these pernicious effects. Enjoyable activities can become almost like a job, by forcing out the outcomes of things that used to be fun," said Professor Etkin, of the results.

I'm guilty of that. I like to write tasks down, and then cross them off. In doing those crunches, I'm not focusing on whether I'm doing them well, and using good form. I'm just counting them. I see a lot of this on Twitter, in tweets about how far a person has walked, or the amount of exercise performed. Instead, find something that's actually enjoyable, and it will feel less like a chore and more like a treat. (See also: 5 Things Yoga Can Teach You About Money)

3. Get Focused on Being Frugal

What do many of us do in January? We pay, or begin to pay, our credit card bills. Christmas was merry, but the Macy's bill isn't. And yet, what do we do? Join gyms. Buy exercise equipment. We pile debt upon debt in the name of self-improvement. And then tax season hits and we're back to suffering through another financial stress period.

Once Tax Day passes, look at springtime as a fresh start for your finances. Banish the urge to buy a new spring wardrobe and focused on becoming more frugally-minded instead.

4. Use Winter as a Recovery Period

After the delightful fun vibe of the holiday season, we put away our decorations and gear up for the new year. Many of us have put off big work projects until the holidays are over, since it's frustrating trying to coordinate meetings or meet deadlines at the end of the year. So, work in the winter becomes one long day after another. If you have resolved to go to the gym before or after work, that's just one more thing you need to get done each day. If you are already stressed about bills, work, family pressures, or other areas of your life, this is the wrong time to try to "better yourself."

What's best is to get your life in a calmer place, first. Think of winter as a recovery time for every aspect of your life, and use the dewy beauty of spring for rejuvenation and goal achievement.

5. Go Slow and Steady Toward Your Goals

Would you like to make a lot of self-improvements? First, remember that Rome wasn't built in a day. Next, try making a list. Pick the one thing on that list that is the most important to you. Make sure it's realistic. When you feel you are ready to try to achieve this goal (meaning not stressed out about other parts of your life), give it a while. If, after a month or two, you are sticking with it, then add another. Be like the tortoise, and you'll get there way before the hare.

Will you restart your resolutions this spring? Let us know in the comments!

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This article is from Marla Walters of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: