Here we are at the end of January — almost one full month from where most of us made at least one New Year’s Resolution. Commonly made resolutions include losing weight, additional exercise, travel more and last, but not least, improve one’s finances. I’m here to help you with the last one!

I think the best way we can improve our finances is to concentrate diligently on reducing the amount of “bad debt” we carry. I consider this to be credit card debt, high interest auto loans, and high interest personal loans from the bank. If you are already on the path to reducing that debt, then step it up a notch! Go ahead and increase the automatic monthly payment you have going to the debt holder. You’ve already accomplished one of your more difficult resolutions (assuming you don’t stop it by year end!).

Another easy, and almost painless, way to improve our finances is to begin contributing 2% more to your 401k plan at work. Once requested this increase in savings will be automatic every time you receive your paycheck, and you won’t have the opportunity to spend it. It doesn’t get much easier than that!

Lastly, you can improve your current financial situation by hiring a coach (i.e. Financial Planner). Working with any kind of coach is a tried and true method to improve upon whatever you are striving for. Whether it’s basketball, business or your finances, working with a coach is one of the best things you can do to improve upon your existing financial situation.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

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