My Personal Finance Goals For the New Year

My Personal Finance Goals For The New Year - Chic and Domestic
My Personal Finance Goals For The New Year – Chic and Domestic

With 2018 coming to end, I think that now is the perfect time to discuss personal finance goals for the future. Everyone makes all sort of goals for the New Year, and trust me I have a longgg list of things I want to accomplish. I’ll spare you some time though, and only bore you with a few of my personal finance goals for 2019.

1. Invest
Investing has been heavy on my mind, and it’s something that I want to do a lot more of in the New Year. I personally believe that if you can’t stop thinking about a goal, then it’s time to take action and make it come to life. I’ve invested in a stock investing course that I’ve been working my way through the last month or so and it has been extremely helpful for me.

Another way that I plan to invest in 2019 is by getting into real estate. As you might know, my husband and I purchased our first home just in time for the holidays, but I also have my own personal goals to invest in real estate as a business. Now, for a more realistic take on things, I might not necessarily purchase more real estate this year, but I do plan to invest in myself, so that I can invest in my wealth, and be that much closer to reaching my other investing goals.

2. Raise My Credit Score
My credit score has been doing lovely the last few months. I feel like I’ve been making the right moves to get where I’m trying to go, but I want a 780 or above in the New Year and I don’t plan on stopping until I get there.

Be sure to check out my post “How To Build and Boost Your Credit” or Credit Building Hacks For The New Year” here!

3. Pay down my student loan debt
Now, I can’t say that I’m in some crazy amount of student loan debt. It’s not 6 figures, it’s not pushing it at $90,000 and it’s honestly not even $50,000 worth of debt, but to me it’s all just debt that I don’t want to keep holding on to. I’ve done a very good job of planning my future educational and career goals around avoiding too much debt, or preferable any at all, and that’s the plan I want to stick to.

4. Pay Down My Mortgage
This is obviously a new goal for me. A very exciting one at that. When we got our keys I was cray excited, but the extreme number cruncher in me was like, “I can’t wait to start paying this thing OFF!” This obviously (clearly) won’t be happening in 2019, but I can accomplish a smaller goal of consistently paying it down on time, and at a more aggressive rate than required.

Be sure to subscribe and look out for more of my home buying and new homeowner tips!

5. Cut My Household Expenses
Cutting my household expenses will always be a personal finance goal of mine. Not just for a new year, but all year long. I’m always looking for ways to cut expenses, and increase the amount of money that I could possibly be saving. I redo our family budget when I feel like it’s needed, but a new year is a great time to look over things when you’re feeling fresh and positive for a financial change.

6. SAAAAVE
I will be saving saving saving all year long. Be sure to look out for my upcoming post on “A Few Easy Ways To Save” for inspiration to do some saving for your own family, and a little bit of how I personally plan to juggle our money to make sure it’s tucked away right where I want it. Also once again, be sure to subscribe for all of the great saving, budgeting, and personal finance content that I have coming your way.

Check out my post “5 Money Challenges to Try in 2019” here!

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Credit Building Hacks for the New Year

Credit Building Hacks For the New Year - Chic and Domestic
Credit Building Hacks For the New Year – Chic and Domestic

*This post contains referral links. I may be compensated for your clicks!*

My self lender account has been nothing short of a success for my credit. I was able to talk about just how helpful it was for my credit in my How To Build and Boost Your Credit post from my Purchasing Your Family Home series. With so many people gearing up to face their finances head on in the New Year, I’m getting more and more questions about not only savings and budgeting, but also ways to increase credit scores.

I don’t always get to talk about the importance of good credit and your credit scores, but because I’ve been blogging through our family home buying process the topic has actually come up a lot. I know that so many of my lovely subscribers (Are you one? Because you should beee!) are interested in purchasing their own family home in the future, so why not talk about it!?

Check out my post “7 Steps to Purchase Your Family Home” here!

So, a few things for the people who don’t know …

Self Lender is an online credit building CD account. It helps with boosting your credit score by reporting on time payments (as long as your payments are ON TIME) but the best part about it is how it holds your monthly payments for savings and distributes it back to you at the end! You essentially get a credit boost for an installment loan, but you’re really just paying yourself monthly, and tucking away your own money for savings. That’s a WIN.

You also don’t get a ding on your credit report for an inquiry, and it starts reporting almost immediately. I personally saw a credit increase of 50 points within the first 30 days of reporting, and 5 or 10 point raises after that. They have a few “loan” options depending on how much you can afford to save every month, and how quickly you plan to reach your savings goal. One is for as little as $25 a month.

A few more things to be aware of …

Now, because self lender reports as a (hopefully positive) installment loan on your credit report, if you are planning to make a big purchase sometime soon, like a house or a car, this “loan” will be viewed as a positive revolving debt on your credit report. No problem though, I would just recommend doing this and completing the CD before running your credit for your big purchase. You do have the option to pay in full at any time and close out your self lender account.

Overall, I can’t recommend self lender enough! I’ve been working really hard on my credit over the last year or so and seeing that big jump that simply trying out self lender has given me was well worth it. I chose to do the $25 option this time, but I actually plan to open another Self Lender CD with a larger monthly payment once this one is completed. You can honestly never have enough savings, and any boost on my credit report is a winner for me.

If Self Lender sounds like something that you’d be interested in trying in the New Year, check out my referral code and receive $10 towards your personal savings here!

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