It’s that time of year again when everyone is making some kind of New Year’s resolution, whether it’s to lose weight, to get a promotion, or to achieve some other goal. When you’re thinking about habit-changing goals, a great category to consider is your finances. The new year is a great time to think about how you will improve your financial health, which, in turn, will help you achieve other goals on your list (such as finally being able to buy a house or take a dream vacation). Financial New Year’s resolutions are smart and important, but only if they are achievable. Last year, we shared some achievable financial New Year’s resolutions, and this year, we’ll add a few more! Check out these financial New Year’s resolutions for 2023.

1. Set a Realistic Budget

Budgeting is a useful way to organize your spending to make sure you don’t overspend in a particular area of your life so that you have enough from your paycheck to cover everything you need. This is especially important if you currently live paycheck to paycheck (as about 64% of the United States population does). If you’ve never budgeted before, thinking about living with a budget can seem restrictive or overwhelming, but it doesn’t have to be! Start small and make your budget realistic. Don’t restrict yourself so much that you have to drastically change your standard of living. Take a month or two to truly evaluate in detail how much you spend on things like groceries, clothing, eating out, and so on. Then, decide if you are comfortable with how much you are spending in each area or if you need to reign it in somewhere. The amount you’re left with is your new budget.

2. Increase Your Income

Has it been a while since you’ve gotten a raise? Have you been putting off asking for a promotion? Is there a side hustle you’ve been wanting to start but haven’t made the time for? Perhaps 2023 is your year! Ask for that raise or that promotion, or put in the time needed for the side hustle (if you do actually have the extra time) so you can increase the amount of money you bring home. Especially if you are budgeting, increasing your earnings will bring room into your budget–and maybe bring you out of the paycheck-to-paycheck life!

3. Raise Your Credit Score

Do you have your eye on buying a home in the near future? You’re going to need a healthy credit score if you want to borrow money from the bank. A better credit score also often gets you a lower mortgage rate when you do borrow. There are simple ways to raise your credit score, but you have to stick to them. Make sure to use your credit card for purchases and then pay your bill on time. The more you prove to the bank that you are financially responsible and can be trusted to pay back your loan payments on time each month, the better your credit score will be.

Our Team Can Help You Achieve Your Financial New Year’s Resolutions for 2023

If you adopt just one of the financial New Year’s resolutions on this list, you’ll be on track toward better financial health in 2023. At DeSantis, Kiefer, Shall & Sarcone, we can help you manage your finances and achieve your financial goals this year and in years to come. If you want to make 2023 a year of financial health for you and your family, reach out so we can help!