This article was created by SheKnows for NerdWallet.
With 2022 in full swing, you can finally start thinking about how you’re going to achieve your New Year’s resolutions. When it comes to New Year’s resolutions, I know I’m guilty of starting off strong and then losing momentum once the clock strikes February, but this time around, I’m committed to doing what it takes to ensure I’m reaching my goals in 2022—including my money goals. And I know I’m not alone in this. At times, it can seem hard to do, especially when you have financial obligations to adhere to such as car maintenance, a mortgage, utilities, groceries, etc., but it can be done with some help.
Cue NerdWallet, a personal finance company that offers knowledgeable and trustworthy guidance to help you make financial decisions with confidence. Through the company’s website and app, consumers can make informed decisions through educational content, tools, calculators, and comparison shop different financial products. Trust us, it’s not too good to be true and it’s super easy to use. Here are some of the things I learned from them that might help you get started with financial planning for the year ahead. Take a look below at some of the simple, yet effective, ways you can achieve your money goals in 2022.
Pick the best credit card
Whether you want to pay less interest or earn more rewards, removing the guesswork from choosing the right credit card makes all the difference. That’s why NerdWallet offers guidance on how to pick the best credit card for you. Because, at the end of the day, the best credit card for you and your needs depends on understanding your options and knowing which questions to ask.
Consider your personal loan options
There are two types of debt: secured and unsecured (not backed by an asset), with most personal loans falling into the latter category. It may not be the most fun activity, but tackling your debt is a great way to start reaching your financial goals this new year. If you’re not sure where to start, debt consolidation loans can help borrowers combine multiple high-interest debts into a single payment. It can also reduce the total interest you owe on the debt and help you pay it off faster. For more tips and best practices, NerdWallet reviewed loans from more than 30 personal loan lenders to find rates and loan features for good and bad credit, debt consolidation, and more.
Find the right mortgage lender for you
If you’re planning on buying a house in 2022, then you may already be considering getting preapproved for a mortgage. Although exploring your mortgage options is part of the home-buying process, it can still get overwhelming at times. That’s why you’ll want to ensure you’re doing what you can to choose the right mortgage type that best fits your needs. While there are typically four main mortgage categories (conventional, FHA, USDA, and VA), you have options when it comes to the mortgage term, and of course mortgage lenders. For in-depth reviews on multiple mortgage lenders, NerdWallet has vetted some of the best out there to help you pick one with confidence.
Learn about your investment options
While some may be more knowledgeable than others on the subject of investing, that doesn’t mean novices can’t learn more about it. If you consider yourself to be an investing beginner, NerdWallet has informational content for investing like a list of the best online stock brokers for beginners, resources to help you find a retirement plan that is right for you, educational content on how much you could contribute to your 401(k), and more.
Know your credit score
Because credit scores influence many aspects of your life i.e. whether you get a loan or credit card, what interest rate you pay, and even whether you get an apartment you want, it’s important to know and understand your credit score. A credit score is a three-digit number, usually on a scale of 300 to 850, that estimates how likely you are to repay borrowed money and pay bills. Typically, a credit score of 630-689 is considered fair credit, and 690-719 is considered good. To learn how to build your credit score, visit here.
Remember, achieving your money goals isn’t going to happen overnight, but with these tips, you can take proper steps toward ensuring your financial future is sound.
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