DALLAS -- New Year, who dis? Well, before you become a new you, you have to make sure you're not starting 2018 broke as a joke. But, if financial stress is what held you back this year, you're not alone.
A recent study from the American Psychological Association said 62% of Americans stressed about money in 2017. So, free your mind because we've collected a few tips to help start the new year on a good financial foot.
- This one is straight out of Forbes. We're not saying you'll make their billionaire list in 12 months but they claim the key is to calculate a budget and then your net worth. This gives you a blue-print of what your debt looks like and exactly how much you can save.
- Ball on a budget. Yes, there are ways to save and still have some fun. Travel and Leisure and Keith King Report emphasize that if you want to get away just make sure you really do your research to save as much as possible!
- Regions Bank says setting "saving goals" -- just like you would any other resolution-- is essential to saving. Why not add that to your vision board?
- This one is quite blunt: stop smoking. Regions Bank also says a smoker spends nearly $3,000 a year in cigarettes. Not a smoker Well, what about cutting down on those expensive coffee runs. Home brewed coffee anyone?
We know these tips aren't easy to follow but here's something to think about: According to Intuit, The average American is supposed to start off their 20's saving 25% of their income.
Then double it in their 30's ... so on and so on.
Wow. How's that for a 2018 change?