The year is coming to an end, and with that, it’s time to think about making a fresh start in 2022 by adding financial resolutions to your list.
We’ve all fallen through the cracks of a too-long list of big goals that felt unattainable halfway through. But, fear not, we’ve put together a list of five achievable financial resolutions that will help you stay on track:
1. Build a budget
Budgeting sounds scary, but don’t get frightened by it! Set aside one hour and start by looking at the past month’s bills. What’s recurring? What are the one-time expenses? Doing this will help you identify spending patterns, what you want to keep, and what to cut. Need help with budgeting? With Brigit’s free Finance Helper tool in our app, you can get a deep dive into your spending habits, keep tabs on bills before they arrive — and find better ways to budget.
2. Start saving by starting small
Are you planning to buy a house, a car, or want enough cash for unexpected expenses? No matter your goal, you’ll want to save some money. A great place to start is to plan to set aside the value of one month of income. Ask yourself how much can you set aside each month, and how long will it take to save the total amount? So there it is, your first measurable goal for 2022! And don’t forget that if you need cash, you can always get Brigit Instant Cash to get up to $250 instead of tapping into your savings.
3. Invest in building your credit
Did you know that a better credit score will lower loan interest rates, give you a better car insurance rate, and more? With Brigit Credit Builder, you can build your credit* and save some money at the same time. This might be the single most important investment you can make for yourself at the beginning of the year.
4. Aim for small improvements
Set small achievable goals for yourself and your family! Skip coffee twice a week and make it at home. Avoid that trip to Target. Try a family game night instead of going to the movies. Small steps will help you reach those goals.
5. Find an accountability partner
Talking about money is not easy, and we know how uncomfortable it can get. However, sharing your small, achievable goals with someone will often help make them a reality. Think about someone you trust: a family member, a friend, mentor, even your teenage kid, and ask them to be your partner in this financial journey. Set aside some time each month to discuss how your financial goals are proceeding. Look together at what worked and what didn’t during the past month: are you on track? Is there anything that needs to change in your plan? Feeling supported and having someone to run things by is key to achieving any goal!
We hope to have helped frame solid financial resolution goals for the year ahead with these suggestions!
Simona from Team Brigit
Disclaimer: The materials on this page are for informational purposes only and do not constitute legal, financial, or tax advice. We may be compensated when you click on links to our referral partners. With respect to our referral partners, we do not guarantee that you will be presented with offers for any particular types of products or services or that you will meet the approval criteria for any particular offer. We do not warrant products or services offered or presented by our partners. Brigit Credit Builder accounts are secured loans issued by our banking partner Coastal Community Bank, Member FDIC. Brigit does not offer other personal lending products.
*Impact to score may vary. Some users’ scores may not improve. Results will depend on many factors, including on-time payment history, the status of non-Brigit accounts, and financial history.