We’re in week three of 2015, so I am assuming that by now you have all dropped a couple of pounds, gotten your finances in order and stopped smoking.
No? That’s OK. No stones from me. I live in my own glass house full of broken resolutions.
But even if you didn’t start the year off with the bang you wanted, there’s no time like the present to start making some positive changes. Let’s start with a recent video about sticking to resolutions.
Now, here are 10 things to stop procrastinating about in 2015.
1. Making a budget
You might think we’re harping on the issue. After all, we’ve told you how to painlessly create a budget, how to develop an effortless budget you’ll stick to and the reasons why your budget will never work for you.
There’s a reason we spend so much time talking about budgeting: It serves as the backbone for everything related to your finances. You won’t know if you can afford a new car payment if you don’t have a budget. You can’t be sure you’re putting enough away each month for retirement without a budget. And you risk racking up massive credit card debt if you don’t budget and somehow (surprise!) end up running short on cash each month.
I signed up for PowerWallet to help make budgeting easier, but you can certainly use a spreadsheet, pen and paper or whatever other method you prefer.
2. Canceling subscriptions
While creating your budget, you might notice some subscriptions or services you no longer need. You know the ones I’m talking about. The ones you plan to cancel every month but never get around to it. Stop procrastinating and stop paying for services you don’t use.
In my case, that means dropping Netflix, which we haven’t watched in months, and canceling the hot spot service on my cellphone that’s no longer needed.
3. Getting out of debt
You may feel overwhelmed by your debt, but avoiding it isn’t the answer. Every month you put off addressing your debt problem is another month you are falling further behind.
Maybe you think you’re doing OK because you can make your minimum payments, but check out any credit card calculator, and you’ll find making minimum payments on a $1,500 balance with a 19 percent interest rate translates into taking 96 months to pay off a balance and spending $2,898 on interest in the process.
That calculation assumes a very low minimum payment requirement – only $30 – on a balance. Bump up that monthly payment to $55, and you could be done with the debt in three years and pay only $480 in interest. Better, right?