New Year’s Financial Resolutions
December 27, 2007 – 9:30 amIf you're new here, I suggest you subscribe to my RSS feed. or bookmark this blog. You'll be able to easily keep up to date with new posts. Thanks for visiting!
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.