6 Ways to Make 2018 Your Best Financial Year Yet
Every new year is another chance to make good on your financial resolutions, and this year’s going to be the game-changer. You can feel it. Here are six goals and resolutions worth considering for 2018:
1. Finish Paying Student Loans
Make it a priority to join the ranks of those who’ve put their student loan debts behind them and moved on to greener pastures.
2. Debt Repayment
In line with student loan repayment, if you can pay off outstanding debt this year, those debt payments become more money in your pocket every month.
3. Maximize 401k Contributions
According to Forbes, tax-deferred retirement accounts are an optimal strategy to grow wealth. Contribute as much as you can this year, and if your employer offers to match a portion of your 401k contributions, that’s even better.
4. Supplementary Income Opportunities
Now’s the time to start that side business or online shop you keep putting on the back burner. Not only can supplementary income help pad your bank account, but it can be extra rewarding to make money doing something you love. Search for freelance, contract, or part-time opportunities. Better yet, find an opportunity that earns you passive income (steady income you have to do minimal work to maintain), and you’ve got it made this year.
5. Invest and Diversify
You’ve got to spend money to make money they say, and smart investing is an inspirational way to grow your finances in 2018. Whether you hire a financial professional to guide you along the way or you’re ready to take a swing at your own portfolio management, it’s time to invest and diversify.
6. Give Yourself an Audit
It may not sound exciting, but a personal audit doesn’t have to be as intimidating as one from the IRS. Instead, set aside time this year to reassess your finances, take a good look at income and revenue streams, and make sure you’re not missing out on any low hanging financial fruit.