As New Year’s makes its approach, many are already beginning to list off their resolutions for 2019. Resolutions can be channeled into bettering yourself, your business or your family. One of the many resolutions we make for our family is to improve our finances. Although saying this resolution out loud is easy, sticking with it through the year can be difficult. Here are a few family financial resolutions and how to keep them throughout the year:


Start Budgeting Seriously

Every family will more or less have a budget in place for them. Not many have taken the time or dedication to make it perfect. It’s important to take the time and decide what room, if any, is left in your budget and what needs to be taken out. To do this, take three consecutive months out of the year to live on a strict budget. This will help show your family the necessities needed, what you can cut out and where you need some serious scaling back. When the three months are up, you will have better insight into how your family has been spending money and where you can save.


Begin Your Will

Although it can be scary to think about, there will be a time when your family will need your last will and testament. This is better done sooner rather than later. It’s important to make sure your family is going to be taken care of if something were to happen to you. Work with your family to decide what you can leave for your children and other family members. If your last will and testament is going to include business owners or other complicated situations, speak with a lawyer to get everything in order.


Pay Off Debts

Large and crippling debt can feel like too big of a mountain to overcome. If you have a lot of debt racked up, it can lead to a financial setback for you and your family. To begin paying it all off, take it one debt at a time. Choose a bill or a credit card and pay it off. This can possibly take more than a year, but taking it down one after another will lead to lesser overall debt. Although a bit unconventional, upping your interest rate can help you to save money in the longer run. If you’re prepared to make bigger payments, up your interest rate to crush the debt.


Earn Extra Cash

If you’re looking to pay off debts or have a bit more wiggle room in your family budget, get a side job to earn extra cash. Those who are willing to put in the time and the work to get some extra money for another job should not hesitate to do it. If you can make time and need the money, you have every reason in the world to do it. There aren’t a lot of people making enough money from a single job to support their family. Take the initiative to find another side job to get the extra cash they need to straighten out their family’s finances.


When making goals to better your family’s financial standing, be sure to plan it as a family, Everyone should be on board if you want it to work. Following these simple family financial New Year’s resolutions will help you and your family live a more financially stable and better year.