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You may recall that I also run a personal finance blog and follow a lot of personal finance bloggers, both from the UK and further afield. I’ve seen plenty of these bloggers talk about their resolutions for the year, especially when it comes to financial resolutions and I thought it would be fun to share mine. I briefly touched on some financial resolutions in my 2017 goals but here is what I would like to achieve in 2017…
Get debt free or as close to debt free as possible
This is my main resolution for 2017. It is proving quite difficult with a newborn but I am hoping to work extremely hard to earn more income this year and in turn pay off as much as possible. Things have been tough these past few weeks so my income has taken a slight hit – I am not taking any proper maternity leave as the maternity allowance wouldn’t cover my bills let alone any debt repayment- but I am hopeful this will change dramatically once I get into a proper routine with Olivia and know what she is like – I’m still discovering her at the moment though. Some of my debts are quite small and could be cleared quite quickly so I am considering opting for one of the quick loans available (as I have previously considered a debt consolidation loan) to clear a few debts at once and then only have to pay one thing back rather than trying to juggle four or five.
Increase my income
I am already working on this one and whilst it has so far been a little tough with Olivia arriving into the world earlier than expected and some other major emotional issues going on in my private life, I am hopeful that I am able to build on my income in 2017. I recently raised my rates and people are agreeing to them so I know I am on the right track.
Build up my savings
Some people find it foolish to consider building up savings when you have debt but everybody should have some form of savings behind them. I want to try and build mine up through a variety of ways – selling old items, completing online surveys, maybe even getting back into picking up ‘roadkill’ (coins people have dropped). I will be saving them in a pot and taking them to put in my savings account every month with Jack and Olivia when they deposit into their bank accounts too.
Build my credit score back up
This is something I am adamant I must do in 2017. When Steve and I first met, mine was pretty amazing and his was shocking – now the tables have turned. With me being self employed, my income is very irregular which has caused the odd payment here and there to be missed – whilst I’ve always caught up or arranged something with the company involved, my credit score has taken a battering and I need to change this before the end of the year.
What money resolutions do you have for 2017? What one thing do you hope to achieve?