Online Banking Login
Pay Visa Card Online
24 South River Street PO Box 1058 Cook MN.

Create a New Year’s Budget that Sticks


Create a New Year’s Budget that Sticks

Budgeting in the New Year

Setting a New Year’s resolution for yourself is easy, but committing to and following through with those goals is a totally different story.

The most important thing to do is to set practical and achievable goals for yourself because nothing is easier than to shove those impossible New Year’s resolutions to the side when you realize they are unattainable.

Here are a few ideas to help you achieve this year’s resolution.

  1. Create a list of goals. Want to save money, pay off a loan, or finally be able to afford that vacation? How about retire at 60 or buy that dream house? Create a list of all your short- and long-term goals.
  2. Make a monthly budget for you and/or family. Who doesn’t enjoy budgeting?! … Oh, is that just me? Well, it can be pretty painless. Check out this article from Forbes with seven simple steps to create a budget.
  3. Focus on paying off your debt. No one said this would be easy, but getting out of debt is not only important it is completely attainable.
  4. Start an emergency fund. Experts say you should have enough money saved up to live three to six months without any income in case you lose your job, have a medical crisis or anything like that.
  5. Create a list of your most expensive luxuries and find alternatives. It’s important to be honest with yourself when you make this list. Do you eat out too often? Start packing a lunch for work or start meal planning to help encourage you to cook. Do you only buy name-brand items? Go generic. Do you pay for a gym membership you never use? Then start going, or cancel it.