The Best Ways To Start Improving Your Finances Now To Plan For 2024
With a few tips and tricks up your sleeve, you can make 2024 your year of monetary prosperity. Even if 2023 didn't treat you so kindly, the new year is the perfect time to start fresh — your budget included. In the following sections, we'll go over six essential steps to improve your finances in readiness for the coming 12 months. After all, there's nothing like being prepared!
6 Top Tips To Improve Finances For 2024
1. Set Clear Objectives
Goals without clear objectives will likely fail, and the same goes for financial goals. You need to be utterly transparent about what you wish to achieve, why you want it, and when you want to attain it.
According to the 2023 Financial Wellbeing Index put together by Aegon, creating a picture of what you wish to accomplish boosts your chances of fulfilling it. However, only 17% of people have a strategy to reach long-term money targets. Don't be one of the 17% and set clear goals.
2. Schedule 2024 Monthly Budget Dates Now
Set up a recurring meeting with your family, partner, friend, or anybody else you live with right now. It will almost force you to stick to the pre-established dates and ensure you stay on track throughout the year.
When those dates arrive, begin each meeting by doing one thing to improve finances, such as:
- Pay off a credit card bill in full
- Move money into a high-yield savings account
- Close an account you don't need
3. Practice Budgeting Before Challenging Yourself
Budgeting is a skill that takes time and effort to master. Even if you've done it before, don't expect yourself to be great at it early on. Instead, use December, January, and February as your practice period before committing to a new budgeting routine. You're more likely to stick to it that way.
4. Think About Investing
Despite savings accounts having high interest rates, the stock market has always outperformed such accounts. Therefore, many financial experts say investing is a much more attractive option. It has the potential to skyrocket your money over time.
5. Update Your Insurance Plans
Updating your life insurance policies ensures your family's current needs will be met if the worst happens. You don't necessarily need to change plans, but optimizing your existing one is essential for future-proofing your finances in 2024 and beyond.
6. Understand How To Deal With Financial Emergencies
When you're in a sticky financial situation, it could ruin your plans for 2024. But you can avoid that possibility by being adequately prepared for these circumstances.
The best planning you can do is saving in an emergency fund. That way, you won't have to choose between paying bills and funding the issue. However, there are other options to take advantage of when a crisis strikes before you have enough money saved.
One such option is a registration or title loan from Southwest Title Loans. You can borrow between $200 and $1,500. The one you can be approved for depends on whether you own your vehicle outright. If you do, you can request a title loan. If not, our registration loan is the way to go.
Regardless of the loan type, the process is wonderfully easy to follow, and you won't have to wait weeks to receive the amount you qualify for. Instead, you get it within a couple of working days, allowing you to get your finances back on track much faster.
To give you an idea of the process, take a look at the steps below:
- Complete the online form, making sure to fill in the correct one for your loan type.
- Wait for us to give you a call. We'll go over the requirements and answer your questions.
- Meet at your local branch of a location of your choice (title loans only), remember to bring the requirements mentioned during the phone call.
- We'll go over your paperwork and vehicle (title loans only) to see whether you qualify.
- If you do qualify, we'll ask you to sign some papers to confirm you agree to the terms.
- Finally, you'll receive your money within 48 hours.
Seek Emergency Loans From Southwest Title Loans Today!
Setting clear objectives, scheduling monthly budget dates, considering investments, practicing budgeting, updating your insurance plans, and being ready to deal with financial emergencies are the best ways to improve finances before 2024 starts. Heading into the new year raring to meet money goals is incredibly motivational.
Plus, you don't need to let unexpected expenses ruin your good time. Title loans and registration loans are safe, convenient ways to borrow money when you need it most. Just complete our online form to get started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.