Each year, as part of my goal setting and planning for the months to come, I pick a word for the year. I’m curious, do you do this too? We perpetuate what we focus on, so in naming my year, I’m putting into motion a self-fulfilling prophesy and my word permeates each aspect of my life, my work, and my relationships. It’s amazing the power you can summon to create your future just by naming it. And this year, my word of the year is ‘Focus.’ Feel free to join me and use this as your word for the year too!
Now that we’re well clear of the holiday season and those holiday shopping are arriving in the mailbox, many of us will be longing for some focus in our finances. If you have some financial goals this year to buy a home, pay down debt, or replace your car, you’re going to need some focus on your credit health to get those things done. And I’m here to help! Here are three tips to shift your focus to improving your credit and finances this year:
Tighten up the budget – During the holiday season we all tend to get a little sloppy with our household budgets. It seems there are always last-minute gifts to buy and unexpected parties to attend that add up to become budget-busters. That’s all over with now, so it’s time to get a hold of your spending and buckle down on your budget so you focus on your credit and financial goals for the year.
Check your credit – One of the most important tasks to focus on this month is checking your credit. I recommend running a credit report at least once, ideally twice per year. You can visit www.annualcreditreport.com for a free credit report and visit myfico.com if you’d like to see your credit score as well. Once you have your credit report, examine it closely for errors or signs of fraud and identity theft and address any concerns immediately.
Make a plan – Once you’ve got your budget in place and you know where your stand with your credit you can create your plan for your credit and finances for the year. Are you planning a major purchase or paying for college or need to buy a car? List out your goals for the year and assign a budget to each one of them. Make a plan for your credit too. Will you need to boost your score to be approved for the best rates? If so, you may be able to get your score moving upward by taking steps right away, like paying down credit cards to below 30% of your total credit line.
My focus this year is on you! I love helping folks just like you build healthy credit and a firm financial foundation. So, if you have any questions or concerns about your credit score, reach out! My wish for you this year is that you create all the joy, opportunity, and fulfillment that your heart desires.
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