Making Ends Meet: Tips to keep up on your finances in 2023

(Arizona's Family)
Published: Jan. 6, 2023 at 11:05 AM CST|Updated: Jan. 6, 2023 at 11:06 AM CST
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SHREVEPORT, La. (KSLA) - One resolution many of us make each year is to stay on top of our finances. However, like many resolutions, we struggle to follow through.

Here are some basic tips to help you stay strong on your financial resolutions!

  1. Improve your credit score
    1. Start by getting a free copy of your credit score to see where you stand.
    2. Make your payments on time.
    3. Easier said than done, but try to avoid putting more on your credit card than absolutely necessary each month.
  2. Look at your insurance coverage
    1. Compare your auto insurance rates to other companies and see if you’re eligible for other premiums, or if you can bundle policies.
    2. If you have it, check on your life insurance policies. You may be paying more than you need to.
  3. Look at your debt to income ratio
    1. This is the percentage of your gross monthly income used for bills (rent, credit cards, loans, or other debt).
    2. Identify where you can cut excess spending. Streaming services or memberships you no longer use can quickly siphon your income.