Anytime a new year begins, people are looking to make resolutions and to live better. Whether it's going to the gym, eating healthier, travelling somewhere new, spending more time with your family or simply relaxing more, positive changes are always good. Making positive financial changes and setting new goals is equally as important no matter what's going on in your life. 2017 presents a new start to doing what is best for your family and your money. Here are some ideas to help make 2017 the best year yet.
Here's to a great 2017!
Setting Financial GoalsWhether you’re newly married, just starting your family or empty-nesters, it’s never too late to make new financial goals. These new goals can vary depending on what you want to achieve. If you want to become more involved in the trading world, there are many tools to get you started including CMC Markets or other investment apps can help introduce beginners to the vast world of stocks and trading. If you prefer a person rather than a computer, there are investors and trading professionals waiting to help. You may also want to start saving your money for retirement, a family trip or investing your money for a big purchase in the future. Saving is easier than most people think but does require some thought. There are different types of saving accounts - tax-free savings accounts, GICs, RRSPs - the list goes on. Setting up automatic deposits whenever you get paid makes saving effortless. Do your own research and talk to a financial adviser to establish which type works best for you and start saving - it's never too late. While it may take time and effort, setting new financial goals for 2017 will be very beneficial for your family and your money.
Cutting Down on SpendingAnother positive financial change to consider is to spend less money. There are many ways to cut down on spending that are also quite simple. It doesn't have to change the way you live either. For example, you could make coffee at home instead of spending money on it each morning on the way to work. Similarly, making lunch at home instead of buying it everyday can also make a significant difference. Keeping an eye out for the sales at grocery and clothing stores as well as using coupons can help increase your savings. Additionally, if you only buy what you need and avoid needless purchasing of treats or household items you can save significant amounts. It may also be a good idea to reconsider your wireless, television and cell phone providers to see if you can get better deals. The differences may be minor, but multiple small amounts add up to large savings overall. Finally, keeping track of your spending can reveal where you need to cut back and give you an idea of how much you are saving. When you make better financial choices, your family benefits from peace of mind and more money for rainy days or potential emergencies.
More Family TimeAn excellent way to make 2017 great is to make family time a priority. Most of us don't spend enough quality with our loved ones. Not only is it good for our own mental health and happiness, it also boosts those of our family members. It can even help save money, which is a plus! Organizing family activities at home, like board game nights, movie nights at home and family dinners, all contribute to saving money. Instead of going out to a dinner, make a meal with your children that costs less and introduces them to new skills. To take it one step further, if you build and maintain a garden at home, this will save money spent on groceries and create a fun, engaging hobby for everyone in the household. It also helps the environment and creates a sustainable lifestyle. There are other free things to do as a family, including visiting local parks, going to free days at museums or walking around the neighborhood. Making good decisions for your family and your money for 2017 is possible and smart.
Here's to a great 2017!