The time for “New year, new me” resolutions is here, and we’ve got five (actually attainable) resolutions that you’ll want to keep up with all year long. Read on to find out five ways to make 2021 a financially great year.

Learn a new (financial) language. Does listening to financial talk sometimes feel like hearing a foreign language? Instead of simply nodding along, make a resolution to improve your financial literacy this year. Finally learn the ins-and-outs of money management. There are plenty of resources online that can help you decode the definitions behind personal finance terms. You can even make a Quizlet to help you commit the terminology to memory! If you’re worried about finding the time to teach yourself this new language, try incorporating some financial podcasts into your weekly routine. By listening to financial podcasts, you can improve your finance skills while still going about your daily tasks. It’s a great way to get stuff done and get a better idea of what is going on in your wallet and bank account.

Clear out the clutter. Recurring payments can be a great time saver, but they can also get out of hand very easily. Sit down and comb through your recurring payments so you can know exactly where your money is going and when it’s being taken. Take an especially close look at your monthly subscriptions. How many television streaming services are you subscribed to? Music streaming services? There are countless entertainment streaming platforms out there, but you don’t need to subscribe to all of them. Make a list of your entertainment subscriptions and figure out which ones you actually use and which ones are just cluttering up your monthly or annual payments. This applies to paid store memberships, too — if you don’t shop at that discount warehouse much anymore, don’t forget to cancel the membership card before you get charged for the new year’s renewal!

Get creative. Don’t let yourself feel trapped by the status-quo of savings, there are many ways to get creative with your finances. Need some extra money for tighter areas in your budget but don’t know how where to get it? Look into refinancing your existing Auto Loan from another lender with us! With our low rates, your monthly payment will be more manageable, which means you’ll have more money in your pocket, ready to put to good use.*

Making the switch from a high-interest rate credit card to one of our lower-rate cards could also decrease the amount of money you’re spending per term, freeing up funds to put elsewhere.** There are so many avenues you can take to save money. Get in touch with our Loan Department, and we’ll help you get creative in finding them!

Take up a new (money-saving) hobby. Trying a new hobby can help improve one’s mood and daily motivation, but don’t forget that it could also help your wallet! Want to try improving your culinary skills? Great! Ditch the costly take-out meals and door deliveries, and resolve to cook meals at home. Halting the high delivery costs, taxes, and tips (or gas money for drive-thru and pick-up options) will drastically cut down your monthly expenses, giving you more money to spare. You could also pick up a new hobby that could help increase your income. The internet has given us a wealth of resources when it comes to finding freelance work. Skilled at editing? Explore the world of freelance editing for supplemental income. Got an artistic side? Look into starting up an online shop to sell your handmade goods on sites like Etsy or Facebook Marketplace. The options are exciting and endless (and will provide you with some supplemental income)!

Plan it out! Most people shudder at the word “budget.” It’s never fun to sit down and decide what you can’t spend money on. Instead, why not give yourself the freedom to choose what you can spend money on? This tactic for approaching money management is called a “spending plan,” and it’s a lot less intimidating than a budget. A spending plan gives you a lot more flexibility in your finances while still keeping you focused on covering your monthly essentials.

The process of determining your “non-negotiable” expenses is mainly the same as a budget: you have rent, electric, water, internet, groceries, emergency funds, etc. The difference begins when you determine your flexible categories. For example, entertainment, personal shopping, dining out, date nights, and more. A spending plan gives you the freedom to set ballpark amounts for these categories without restricting you too harshly. As long as you have your monthly non-negotiables covered, how you distribute money from month to month in your other categories doesn’t matter as much. A budget is far more restrictive, which can put you in a panicked mindset of “money is always tight, I have no wiggle room,” whereas, a spending plan gives you the control to say “I have the room to spend a little extra here this month.” Start 2021 establishing a spending plan and giving yourself the freedom to choose where your money should go and how you want to spend it!

*APR = Annual Percentage Rate. Not all applicants will qualify, subject to credit approval. Additional terms & conditions may apply. Actual rate may vary based on credit worthiness and term. A First Financial membership is required to obtain a First Financial auto loan and is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. See credit union for details. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan. First Financial FCU maintains the right to not extend credit, after you respond, if we determine you do not meet our guidelines for creditworthiness. Current loans financed with First Financial FCU are not eligible for review or refinance.

**APR varies up to 18% when you open your account based on your credit worthiness. These APRs are for purchases, balance transfers, and cash advances and will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fees. Other fees that apply: Cash advance fee of 1% of advance ($5 minimum and $25 maximum), Late Payment Fee of up to $25, Foreign Transaction Fee of 1% plus foreign exchange rate of transaction amount, $5 Card Replacement Fee, and Returned Payment Fee of up to $25. A First Financial membership is required to obtain a VISA Credit Card and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties.