2016 has the potential to offer a great financial
revolution. For the first time, in a
very-long time, people are more interested in macro-events regarding their own
money. Many of the political candidates
are focusing their campaigns on changing America’s economy. 2015 was one of the biggest years for me helping
people with their finances, and I believe 2016 will be a greater financial year.
Unfortunately for me, it looks like I won’t be meeting most
of my 2015 financial resolutions. I took
quite a large hit chasing quick money, which had a ripple effect across my other
financial goals. If you’ve never made
New Year’s financial resolutions before, then consider these:
1. I’m going to save $X,XXX in an emergency
fund. Make sure you keep this
money in an account that’s not quickly accessible to prevent impulse
spending. I use CapitalOne 360; if you’re
interested in setting up a CapitalOne 360 account, please let me know so we can
both benefit from referrals.
2. I’m going to reduce or eliminate X% or
$X,XXX of debt. The
most concerning problem in the whole world is the overwhelming debt taken on by
middle- and lower-income people. Without
getting into any conspiracies, personal and national debt is THE most critical THREAT
our world is facing.
3. I’m going to save $X,XXX in my retirement
fund. People are being forced
to work longer because they failed to prepare for retirement. In one of my most popular posts, I shared my
concerns with my generation not being financially prepared. Read it here:
4. If you continually do these things, but
still want to improve your finances, consider these:
a. Max out your credit score for your age
b. Eliminate ALL bank fees by changing banks
c. Maximize rewards by getting a different
credit card
I really believe 2016 can be a financial revolution for the
developed countries. We must take care
of our own finances within our control before we can make fundamental changes
against the conspiracy theories.
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