Happy New Year! Crazy to think we are now at the beginning of yet another year. This is such a great time to set goals and intentions and none is more important to your life than your credit. One thing you should be doing if you haven’t already is making your credit score a priority. That’s why improving your credit should be your number one New Year’s resolution, because WHY NOT!?
Why Improving Your Credit Should Be Your Number One New Year’s Resolution
- You never know what big purchases the year will bring: If you had told me in January of 2019 that by July we would be living in a new house I would have laughed. Moving was NOT on our agenda for 2019. But 6 months later we were moved. Had we not been taking care of our credit it would have been a much harder situation. Because we make monitoring our credit and staying on top of bills such an important part of our everyday life getting a home loan was super easy!
- January is a great time to set monthly/yearly habits: In 2015 there were a few things I started doing and I started them on January 1st. For some reason starting in January seems to make habits stick for me. Every year I have added things to that and I notice that starting now really helps. Plus at the end of the year, you have a bigger picture to see how far you’ve come vs starting in mid-year.
- Your credit tells any institution what they need to know about you: If you end up wanting to open a new credit card account this year, or taking out a loan, or buying a car your credit is a major player. You can have a great income but if you have lousy credit it’s going to make a big difference in what you can get approved for and what your interest rate is. You want to start your year off with a fresh clean slate and that way if you need anything during the year you already know you’re covered.
- Your credit controls most aspects of your life: As I mentioned above, your credit tells banks and other institutions where you stand. They don’t care what kind of person you are or what job you have they just look at numbers and numbers are EVERYTHING when it comes to credit.
- Without good credit you will be more stressed: I was listening to a speaker recently talk about how the most common cause of divorce and stress is money. Well, credit is a big factor with that too. The times in my life I have been the most stressed all stem from a money issue or when my credit was really bad. Improving the credit aspect takes such a burden off of you.
- Now is as good of a time as any: Today is the best day to start. Yesterday has come and gone and tomorrow is another day later. So why not start today?
What is your number one New Year’s resolution?
This post was originally written in 2020 and has been updated for 2023.
It’s definitely the year to get my finances in order! Great tips! ❤️✨
Charmaine Ng | Architecture & Lifestyle Blog
I really loved this! What a great New Year resolution to work on. I didn’t even consider something like this. It’s such an important thing to work on that most people forget about!
I agree that having bad credit can negatively impact your life. It’s so important to pay off those holiday and yearly credit card bills on time!
I definitely need to take my financial situation very seriously this year and yes starting with my credit. I just realized how important that is.
These are all great tips. It’s definitely true that major purchases are not always things you know are on the horizon, so being prepared is crucial!
Yes! My husband and I have thankfully have always been really mindful of our finances, paying down debt, and trying to keep our credit score as high as possible. I’ve seen so many people hurt by having bad credit and not being able to get anything, and it’s sad. So I hope that everyone reads your post and takes it to heart, it’s so important!
Thankfully my husband and I both have had really great credit. But you’re right, the new year is a great time to start getting things straightened out if needed.
This is a great post! Yes, improving your credit is an excellent goal for a New Year! I took about 2 years, focused on mine, got it all up – almost bought a house then a LOT happened and I’m back to rebuilding again.
I should look into my credit score, I never really have done since my US credit card doesn’t affect my life in Japan (Japanese banks don’t care about US credit scores). But, I will try to improve once I finish paying any back payments to the government.
This is great advice. It’s always important to keep an eye on your finances, and when better to start afresh than the new year?
These are literally spot on! Especially when it comes to getting an apartment or credit cards, you need a score for approval
-xo, Azanique | https://www.lotsofsass.com
I love that you’re having a conversation about this — we need to be more aware and take control of our finances!
great advice, i always forget about that, thank you for remind me