It’s that time of the year again. The holidays usually end with some self-reflection on just how far the year has been. It’s a time to take inventory of the positives and the negatives, and, learn how to balance the books in favor of the winnings. As the adage goes, out with the old, in with the new.

Figuring out your financial situation should be the first thing on your New Year resolution.

Most people tend to forget about the financial aspect of the math when making resolutions. Having a great will to achieve something momentous in the year to come is a great place to start. However, before you commit, you need to figure out how your finances stand.

For starters, you need to come up with and dedicate your actions towards the acquisition of new monies and a determination to keep your finances secured. Once your finances have a clean bill of health, it’s going to be easier to walk into the new year confident about what lies ahead.

If you’re uncertain on how to kickstart your journey into the new year, you’re in luck. The following financial tips should provide you with pointers to fulfill all your dreams and wishes in the new year.

Money Market Account

Money market accounts are the perfect fit for new investors looking to have their money in close proximity. In addition to this, Investopedia has divulged that money market accounts historically have elevated interest rates compared to savings accounts.

In their breakdown, Investopedia pointed out that users with money market accounts have limited check-writing abilities.

Summarily, the money market account option is quite impressive since it offers the best of both worlds. The benefits that come with checking accounts, whilst showcasing savings accounts qualities.

What do you need to get up and running with a money market account? Simple, an account. To set one up, you going to have a trip down to your local credit union and share your credentials for sign up purposes. A small deposit amount is necessary to get things flowing earning dividends.

Despite this minor requirement, a money market account is your best bet if you’re looking to kickstart your financial resolutions on a positive note.

Share Certificates

There’s nothing quite like an assurance of making money. Share certificates are the perfect way to start off the new year since they give you estimates of just how much you’ll be making beforehand.

This minimal-risk investment can come quite in handy right after the holidays after finances are stretched. All you have to do to get started is to buy a share certificate from the local credit union. Then, just play the waiting game until it’s finally time to cash in.

Information shared by a source at the Member One Federal Credit Union showed that benefits that users can accrue from share certificates are quite in plenty. The only caveat is that they come in fixed rates and with clearly defined terms. Still, the fine print is quite okay since customers know right from the onset what they stand to gain from the investment.

As a result, it’s not too far fetched to say that share certificates are perfect for those looking to make investments with almost zero risks on their end. Any demographic can benefit from this setup, whether, one is new to investing or just looking for a guaranteed return. Whatever the scenario, share certificates always deliver.

Budget & Sacrifice

If you don’t do budgeting, the new year is the perfect time to start this valuable practice.

With a budget in place, you’ll know just how much money is flowing in and how much is coming out. With smart spending and saving options, it’s going to be easier for you to transition into the new year without feeling like you’re missing out on something.

If you already have an operating budget and are looking to further enhance your financial state, then, it’s a good idea to look for something that exists within your budget that you can do without. Simple sacrifices like avoiding take out can go a long way in bulking up your pocket reserves.

Get aboard when Employers offer to Match your 401(k) Contributions

Generous employers have been known to offer to match employee’s 401(k) retirement contributions. Whenever this happens, it’s best to always pounce on the chance without much ado. Otherwise, it will be akin to taking money out of your pocket and spending it on plenty of frivolous stuff.

While many people are still not sure whether they can afford to split funds from their budget into their retirement account, it’s a good thing to always weigh just how essential the employer’s offer will come in handy during your grey years.

On the other hand, if you have absolutely no idea how you’ll finance your retirement, then, it’s a good thing to set up goals and acquaint yourself with the numerous retirement account options in the market before narrowing down to one.