Money Resolutions You Can Actually Keep | The Financial Diet

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Hi i’m chelsea and i’m lauren and we are the financial diet and today we’re going to be talking about something that usually starts off really great and ends really terribly which is new year’s resolutions obviously a big part of tfd is really kind of self-improvement self-betterment but the truth is that new year’s resolutions in particular often just end up making

Us feel worse about ourselves and studies show that 92% of new year’s resolutions fail so if you failed on yours last year you’re not alone and we think that a huge part of that especially when it comes to money resolutions is that they’re often focused on kind of a specific goal or a specific number or really the end result of the thing for example you might say i

Want to save up x amount or pay down x amount by the end of the year and it’s so easy to get taken off track for example when i felt on my new year’s resolution it was because i said a very general goal of getting more organized with money i fail to set up certain strategies and processes to help myself achieve that goal so we decided to pick some resolutions this

Year that are really focused on the actual process of doing it and aren’t so much about a specific end result these are resolutions that everyone can participate in no matter where you’re starting from and are much more about the day-to-day improvement rather than some specific end goal so let’s get right into the five new year’s money resolutions you’ll actually

Be able to keep number one is to download an automated transfer app apps like digit dobot and acorns are awesome because basically they take your money from one place to another without you realizing it and help you do things like save invest or even pay down debt we’ve talked before about all the awesome money apps you have out there to help you but there are

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A few that have as direct an impact on your day-to-day finances as ones that actually automate the process of doing the right thing with your money and the apps we’re including in the description are great because they assess your spending behind the scenes to make sure that they’re not transferring in a way that’s going to throw you off one of the hardest parts

About getting good with money is doing the actual work of manually transferring your money where it needs to go sometimes it’s way better to just offload those decisions to a computer number two is to be honest with yourself and create a list of important terms in areas like money career and health that you don’t know the meaning to look them up and actually write

Down the means to them by hand so you can start to memorize some good terms to start with include obamacare deductible open enrollment retirement account 401k portfolio premium etf and various mortgage terms like equity downpayment appraisal and fha loan when you demystify these terms you can take better control of your health finances and career number three is

To do a total refresh of your online professional presence now number one is you want to go through your linkedin and your resume and make sure that all the information is up-to-date it’s kind of in the best light possible and there are no like glaring errors such as a former employer with their name misspelled well link to a great tutorial in the description to

Show you guys how to do that now number two is to go through your social media presence and make sure they’re what we call professional ready basically this means that they don’t have to be about work but they also can’t be something that you would be humiliated if an employer saw obviously this isn’t the early wild west days of facebook where if you have like

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One picture with you holding a beer bottle you’ll never have a career but you also shouldn’t have like your twitter profile picture be like you at a bachelorette party with like a crown made of penises and if you do want to have a meme filled work inappropriate social media presence make two profiles lastly take about 10 to 20 dollars and register a domain name

That’s like some variation of your name where you’ll put things like a resume you know a brief bio some contact information a portfolio if it applies etc etc not only is setting up a site like this great for your professional seo it’s also awesome for employers who are trying to look for information for you all in one convenient place as well as for potential side

Hustles who are trying to find you in a very passive way besides having your own little professional website cost like fifteen dollars and makes you look hella professional number four is to figure out what your credit score is and know the exact strategies that you can use to raise it credit karma is the perfect site for this because not only does it use a soft

Check to break down your credit score in history it also gives you specific ways you can build your credit based on your history and your habits the top three strategies to raise your credit score are keeping your credit utilization down below 30% and will link to an article that explains that in the description below pain bills on time and reducing the debt you

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Owe on credit cards number five might sound cheesy but it’s so so true start talking about money with your friends one of the best and the most entirely free things you can do to help yourself get better with money is to make it an open topic of constructive conversation with your friends you’d be shocked at how much closer it brings you to people when you start

Talking about money some things you should definitely start talking about this year are salaries and negotiation rent and how you found your places how you handle money in relationships and general day-to-day spending not only does money talk between friends make you more informed and confident it also helps you save money because a you can swap awesome strategies

And be you can be honest when you can’t afford once money is an open and fluid topic between friends it’s no longer weird to be like could we not go to a restaurant for the third time this week can we just sit home and eat microwave popcorn and watch television because i am broke so all in all it’s really important that you focus on the process and not just the

End goal this will help propel you into the elite 8 percent of people who actually keep their new year’s resolutions and as always thank you for watching and don’t forget to hit the subscribe button and to go to the financial diet calm for more bye

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Money Resolutions You Can Actually Keep | The Financial Diet By The Financial Diet

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