Hi folks, J.G. Wentworth here. With less than 21 days to the start of the New Year, we thought now would be the perfect time to begin thinking about how to make 2014 profitable and prosperous for you and your loved ones. Here are our 5 essential tips on how make 2014 – and every year after it – as financially successful as it can be.
1) Make a 12 month budget – and stick to it
First, accurately measure your monthly earnings after taxes. Then make a detailed list of expenses, taking everything into account. Are you taking in more than you earn? Buying things you don’t need? It’s absolutely essential that you keep an honest record of money going in and out, because only then can you consider our second crucial step towards financial prosperity:
2) Find a way to put money in the bank at the end of each and every month
Most financial experts recommend that you earmark at least 10% of your paycheck every month towards savings. Whether or not you can reach this goal, it is vitally important that you at least put some money away every month, so you can build a nest egg for retirement and/or emergencies.
3) Pay down your debts
You do not want to spend your life paying interest charges to credit card companies and lending agencies. Do everything you can to always be trying to pay down debts – or, if at all possible, not to get into debt in the first place!
4) Open up a retirement account, and make regular contributions to it
Similar to goal #2, opening up a retirement account – whether it is in the form of a 401(k) or an IRA – is an essential long-term plan towards a secure and successful financial future.
5) Never waver, and never give up
You’ve set some financial goals, and made a plan on how to execute them. Now comes the hard part: putting that plan into action.
Never waver, and never give up. Every month you meet your budget, reward yourself with a modest reward or present. This positive affirmation will motivate you for the month ahead, and your hard work now will pay off down the road.
We are J.G. Wentworth, and it is our fondest wish that 2014 puts you on the path towards the financially prosperous future you deserve. And if you are looking to get a jumpstart on 2014, and are currently receiving regular payments from a structured settlement or annuity, please know that we are also available to talk about your specific financial situation, and see if there’s a way for us to get you that money sooner. Call us anytime at 877-227-4713.