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Bringing in a lot of baggage from last year is understandable. A new year, new you doesn’t mean everything goes away after the clock strikes twelve. For many people, getting their personal finances together is the perfect way to start the year off right. Whether there are debts looming from last year or the year before that, you can get off to a great financial start for 2020:

Start By Organizing

The first thing you are going to want to do is to take a good look at your current finances. Figure out your debts, your monthly income, what you need to save, and where you are spending too much. Make sure you identify every expense you dedicate your finances to. This will really help put your financial state into perspective to see where you are now and where you need to be. It’ll also help you identify the mistakes you made last year. 

Have a High Emergency Fund

There is no telling what is going to happen this year. Having a safety fund ensures you are covered for any unexpected expenses or emergencies. It’s important to put as much in your emergency fund as possible. If anything were to happen, then you are prepared to take that blow, instead of going from paycheck to paycheck. Dedicated your funds to building up for emergencies to ensure you have a strong safety net. 

Hold Yourself Accountable

When aiming to be more financially stable or stronger for the new year, it’s imperative that you hold yourself accountable. Of course, when you stop saving towards your goal and start doing extra spending, there isn’t going to be anyone to tell you to stop or steer you in the right direction. This is why it’s important to create your own accountability. It’s a good idea to find a friend or family member that will help you on track towards your goals. 

Have a Plan in Place

It’s important to start the year off right by having a plan in place. Get together your overall goals and where you’d like to see yourself by the end of the year. When you have this in mind, create a plan of how to get there and know what you need to do. It can be a form of a timeline or just a simple list of the goals you’d like to accomplish. Either way, having a basic plan will help you gain better ground towards a stronger financial future.