It’s a new year! Now is the time to get your finances in order and get the year off to a great start! Here are a few tips on what you can do:
1.Create a Financial Covenant – This is a document that you create for you (and your family) in which you outline your values and how you intend to be a good steward over your finances. This is a vow that you make before God so remember to honor it and God will bless you for your obedience!
2.Get your Credit Report – If you haven’t already pulled your credit report, do so now so that you can know where you stand. You want to know where you stand now so that some of your financial goals can be tailored to improving your credit score. You can obtain a free copy of your credit report at http://www.annualcreditreport.com.
3.Create a Budget – This will help you to live within your means and avoid overspending.
4.Set your Financial Goals – You need to set both short and long-term financial goals and stick to them until they are accomplished. An example of a short-term goal is to set up a plan to pay off your credit card debt within 6 months to a year. An example of a long-term goal is to put away funds to save for a down payment on a home that you want to purchase within 2 years.
5.Stay Disciplined – Keep focused on your financial goals and try not to fall into temptation to make impulse purchases or decisions that would cause you to have a financial setback.
Remember that staying disciplined is the key to being a good steward over your finances!
Contributed by Royal Sister Niambi Atkinson