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3 Practical Financial New Year’s Resolutions for 2024


Most New Year’s resolutions focus on improving your health or finances, and in both of these areas, it is easy to set unrealistic goals that leave you feeling physically, emotionally, and financially worse than you felt before the new year started.  Sometimes it is best to start small.  Think back on a New Year’s resolution that you or someone you know kept for a whole year.  It is probably the more modest resolutions that succeeded.  For example, it is much easier to stick to your plan to text your mother every day, which takes less than a minute each day, than it is to give up junk food entirely, which means saying “no” to every cookie, candy bar, doughnut, potato chip, corn chip, hot dog, hamburger, French fry, or chicken nugget that crosses your path.  These are some manageable financial New Year’s resolutions you can implement in 2024 so that you can free up time and mental energy to discuss long-term strategy with a Plantation debt lawyer.

Consolidate Your Debt

Debt consolidation only takes a few hours of research, followed by a few clicks, but it can allow you to pay down more of your debt balances and pay less interest over the course of the year than if you had not consolidated your debt.  To consolidate your debt, you borrow a personal loan with a lower interest rate than your credit card, car loan, or other debts that you want to use it to consolidate, and you use the loan to pay off those more expensive debts.  Not only does it increase your credit score over time, but it also frees up more room in your budget for saving or paying down the debts that you could not consolidate.

Stop Fixating on How Much Money Other People Appear to Have

Sometimes you can avoid expensive purchases by taking your mind off of them or, at least, not torturing yourself about how you can’t afford them.  Watch cooking shows, old movies, or stand up comedy instead of following influencers or consuming content about travel, clothes, or cars.  Think of a list of talking points before you socialize with materialistic relatives and friends who always want to brag about how much they earn and how much they spend.

Make Frugal Eating Your New Hobby

One coupon only saves you a few cents, but if you commit to using up the grocery item you bought with it, you will spend a lot of time not spending frivolously.  Buy what is on sale and then figure out what to cook with it.  By researching frugal recipes, and even making some up, you will improve your cooking skills.  You might add some new family favorite recipes to your repertoire, simply because canned tomatoes were on sale.

Work With a Debt Lawyer About Getting Out of Debt in the New Year

A South Florida debt lawyer can help you follow short-term and long-term strategies for paying off your debts.  Contact Nowack & Olson, PLLC in Plantation, Florida to discuss your case.



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