Successful Financial Habits for the New Year

Thank you Lexington Law Firm for sponsoring this post. Lexington Law Firm’s team understands that a credit score is not just a number; it’s a lifestyle.

I can’t believe it’s already 2020! While I’m still in shock that 2019 has already come and gone, I’m excited for the fresh start the new year brings! I can’t wait to focus on successful financial habits for the new year.
At the beginning of every new year, I like to revisit my goals from the previous year and see how I did, and also set new goals going forward.

My business, finances, and health are always a priority when it comes to goal setting.

A few months ago I shared that one of my goals for 2019 was to take charge of my finances. I wrote a post about how I planned to do that and detailed my top tips for taking control of your finances.

I also shared how I was utilizing the services of Lexington Law Firm to help me gain complete insight to better understand my finances. They’re the oldest and most respected name in the credit repair industry, and they’re the only ones with the legal experience and technology to both advocate and drive results. Needless to say, I felt confident working with them. 

As promised, today I’m excited to share more about my experience with Lexington Law Firm.

How to Better Understand Your Credit Score:

If you remember from my previous post, my main goal was to gain a better understanding of my finances and credit score, and to ensure there weren’t any hidden errors on my credit report that I didn’t know about.

I wanted to see the big picture and all the details, and that’s exactly what Lexington Law Firm helped me do. 

The process was very simple and straightforward. I was provided with a custom account and dashboard that I could log into and view a detailed summary of my credit history.

They have a proprietary app that gives you access to the best services and solutions. You have a right to a fair, accurate, and substantiated credit report, and what I like about Lexington Law Firm is that they are able to navigate the credit repair process with their knowledge of the law to fight for your rights to good credit. If there’s something there that shouldn’t be, they know exactly what to do.

A late payment or derogatory mark from a creditor may seem harmless, but it can actually have long-term consequences, up to seven years. Thankfully I did not have any errors negatively affecting my credit score, so my experience served as a nice visual aid that provided peace of mind knowing everything was in good shape and I had an extra set of expert eyes that had my back should any issues arise.

This also gave me a much better understanding of the different variables that make up a credit score, which is always good to know. I now feel much more confident in my ability to plan for my future and ensure my finances are in the best shape possible.

Going forward, I will now be focusing on new habits and goals! These are the top 5 habits I plan to work on this year.

Successful Financial Habits for the New Year:

List Financial Goals

Since everything is better when you say it out loud or write it down, I plan to list out my financial goals that way I can always be reminded to keep my eye on the prize. 

Stick to a Monthly Budget

This is the key to saving money and spending less, and I believe there’s always room for improvement here. My goal this year is to continue to look for ways to cut out unnecessary spending.

Monitor Credit Health Regularly

I know that my credit is one of the most important aspects of my finances, so this year I really want to get in the habit of monitoring this regularly. I want to stay onto of it to ensure errors, identity theft, or overspending don’t occur. 

Put an End to Bad Spending Habits

This kind of goes hand in hand with sticking to a monthly budget, but I felt it deserved it’s own spot here in this post since it’s important. Cutting back on unnecessary spending will be my biggest takeaway here. The little things add up, such as random trips to Starbucks and unnecessary spending on food, so this is what I’ll be focusing on. 

Increase Contribution to Savings

I’d like to get in the habit of continuously adding a little more than what I’m supposed to, each time I put money away in savings. While it’s good to be disciplined and put away X amount each week, month, etc., it also never hurts to go above an beyond the plan. This is a successful habit I know I’ll never regret doing! 

What are your financial goals for the new year?

Do you have any habits you’ll be working on this year? Share yours in the comments below!