The year is quickly drawing to a close. A few more holidays, and we shall arrive in 2015. Are you prepared for the new year? More to the point – are your finances in order? It’s always best to go into a new year with a good idea of your finances and how much you have. The following are a few tips to make that task easier:
- Spend wisely. Many people will receive an end of the year or holiday bonus, and that may be just what you need to fulfill a specific New Year Wish. However, you will be more financially stable if you immediately put that bonus in your savings account. Make it less easy to spend, and you will find it may help you in other ways. Use the bonus to pay off any end of the year debts nagging at you, and take care of important financial business first.
- Have a strategy. Whether you combine your salary with your spouse’s, keep them separate, or have some unique method of money management for tax purposes, make sure you have a plan. By knowing what you need to do to keep your money safe as the year winds to an end, you will be better off in 2015.
- Invest in an IRA. If your company offers this option, take advantage of it. Any amount they offer to match is free money in your pocket, and you would be foolish not to use it. The start of a new year is the perfect time to think about your future.
Following these tips may not lead you to financial bliss, but it will make your life easier at the end of the year.