I’ve put together some New Year’s resolution that are financially related that I definitely can attain.
1. Step up emergency savings contributions – Currently I contribute $30 a week to my emergency cash fund. If I step this amount up $5 to $35, that’s an extra $260 annual contribution. Definitely do-able the first week of the year.
2. Pack lunch – I’m extremely lazy or don’t have time but I’ve been buying my lunches everyday I go to work and the costs do add up. I think I spent roughly $200 last month in that damn cafeteria.
3. Rake in the CC bonuses – I’ve got a decent credit score and I should take advantage of that at this point in my life when I’m not looking to do anything that requires a decent credit score (buy a house, car, etc.) The plan is to sign up for a bunch of cards, rake in the bonuses, consolidate the cards, and the end result is a few cards with huge credit lines.
On a side note, Citi recently upped my credit limit again to $10,000 on my first credit card (Citi Dividend). This is a card that I started out with under 2 years ago with a limit of $800. I’ll admit it feels pretty nice to have a huge credit line… and no I was never an authorized user on my parent’s CCs so no help there.
4. Start a vacation fund – I already have a emergency fund, a car maintenance fund (of which I contribute $40/week) for gas and general maintenance expenses, and a xmas fund ($10/week contribution, $500 or so yearly which is plenty for gifts) so why not a vacation fund? I’m going on vacation in January to California to visit my sister and her newborn. Usually these are unplanned expenses so the hit I take from the cost of the airplane tickets and such is pretty rough.
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