Make 2022 Your Year for a Financial Reset

During the holidays, we think of our faith, family, friends, and career—but what about a financial reset? Do you ever want to treat your bank account like an Etch-a-Sketch, shake it vigorously, and start all over? Unfortunately, that’s not going to happen but there is a way to make better choices pertaining to your money and begin seeing changes in your budget.

That’s why a financial reset is a possibility. You can make a resolution any time of the year to make your budget new. It takes work and commitment, so why not start now? If it’s fear, that’s okay. Are you uncertain? No problem. Do you not feel like you’re able? You are.

Unfortunately, we have heard stories from hard-working people who got overwhelmed with credit card debt. Everything is going well, and then a monetary crisis happens. It could have been a divorce, job loss, medical emergency, or the car. Whatever it was, there wasn’t enough money in the bank to cover it.

What’s next? Can you pay for the debt? Are you able to do more than minimum payments? How sick are you of those collection calls? Whatever the cause, be angry enough and determined to do something about changing it. By now, you were willing to do anything to stop the madness.

If you have considered getting help with your debt, we can walk with you every step of the way through your journey. Ready to choose and make 2022 your year for a financial reset? Here are a few ways for you to do it yourself.

Lifestyle

If you keep up with the Joneses or whatever family you follow on social, understand those are only pictures. You don’t know what they spend or the kind of debt they added to get it. Stuff doesn’t set you up for success, but a savings account might. If you are living like your 20s well into your 40s, some changes need to happen. It’s time to prioritize your future.

Emergency

Financial surprises will happen. You can count on it. However, those surprises don’t have to be emergencies if you have money to cover them. Do you know half of Americans don’t even have three months of income saved? Is that you? You will be more than thankful for a solid financial reset if the car breaks down and you know you have money to cover the cost. Start saving today.

Score

Credit scores can be the most confusing things dealing with personal finance and a financial reset. There are three credit rating agencies—Equifax, Experian, TransUnion—that influence your credit score. These three agencies don’t necessarily use the same information, which is why your score may differ between them, but each one create your FICO ranging from 300 to 850. With a free app, keep tabs on this score and do what you can with financial literacy and a little inspiration to change it.

Temptation

With a search, an impulse, and a click, you can be in anyone’s eCommerce store, putting a wish list of items in a cart. Sure, it doesn’t hurt because you aren’t buying them…yet. To keep a much tighter grasp on your finances, only buy for need and erase temptation. Consider unsubscribing to the countless spam promoting BOGO sales. Also, back to the carts, don’t buy on impulse. Leave the carts for 24 hours to think about the expense. Then, only if you can afford it, enjoy.

Goals

The most important aspect of a financial reset is setting goals. Without those, your plans mean nothing because there is no accountability. While you “plan” to pay off that credit card bill, a goal keeps you focused on reaching a certain number by a specific date. Depending on where you are with your debt, your goals will differ, but the outcome is always the same—breathing easy and reducing stress. You can do this!