Whether New Year’s or not, it’s always a good idea to make a resolution to get your money and finances in order. No pressure, we get it. That’s why we’ve come up with these 5 easy money resolutions to help you start on the right foot and save for the long term.
- Review your insurance coverages
A lot can happen within the span of a full year: A new job, a new home, or maybe even a new addition to the family. That makes the beginning of the year a great time to review your car insurance policy, see if you qualify for any extra discounts and make adjustments as needed.
- Set up auto-pay
Set it and forget it. By setting up auto-pay across your insurers, service providers and credit cards, you’re ensuring that you never miss a bill which helps to up your credit. Here’s an extra perk – as a Verti customer you qualify for a “good payer” discount if you pay your bill on time every month!
- Check and Fix (if need be) your credit
Speaking of upping your credit – you should check yours! Though you should be checking your credit regularly, a beginning or end of the year review helps you see where you are and where you need to be. A better score may help you if you’re looking to take out a loan, but will also help you by potentially lowering your insurance premiums too.
- Roll-over your 401K
If you’ve worked at more than one company, you’ve probably had more than one 401k. Hopefully, that means you’ve rolled over all your previous 401K’s into your current to maximize your accounts. If not, we suggest gathering all your “orphan” accounts and consolidating them into your current.
- Start an emergency fund
Life is unpredictable, and it’s best to be prepared for that unpredictability. Best way to do that? By starting an emergency fund. Ideally, you’ll want to save enough for three to six month worth of expenses. A great way to do this is by setting up an online savings account with an online bank, as they tend to have higher annual percentage yields. Plus, they help curb any double dipping for non-emergencies, since you can’t easily transfer funds between checking and savings accounts.