When people say ‘Rome wasn’t built in a day’, they weren’t just talking about the beautiful city in Italy. Accomplishing any short term or long term goal isn’t going to happen overnight, including your financial goals. Whether it be improving your credit or paying off your credit cards, you have to put in the work to get the results.
Don’t wait for the clock to strike midnight on December 31st to start thinking about working towards your future. As long as you have an actionable plan in place and you follow through, this year is going to be your best year yet!
Let’s walk through our tips on how to get you on track to achieve your financial goals starting today!
Table of Contents
1. Review Your Financial Accounts
First begin the year with a review of all of your bank accounts, credit cards, insurance, and investments. You might be able to find where there are hidden fees, monthly charges, and mistakes. Reviewing all of your statements and accounts allows you to make adjustments or find a new bank account or insurance that might suit your needs (and wallet) better.
You can avoid all those hidden fees and unexpected monthly charges when you sign up for a RoarMoney account from MoneyLion.
Let’s take a closer look at how being a RoarMoney member helps you keep track of all your finances from the palm of your hand.
Signing up for a $1/ month RoarMoney account only takes a few minutes and you can do it right from your phone. Get instant access to your RoarMoney virtual debit card right away and you will also receive a physical MoneyLion Debit Mastercard in the mail. As soon as you have your account set up, you could qualify for Instacash advances, Credit Builder Loans, and early paydays.
Using your virtual card or physical card when shopping MoneyLion rewards and you could earn some serious cash on everyday purchases. Bought a laptop for school and found it cheaper a few days later? With MoneyLion’s price protection, you can get a refund on the difference within 90 days of your purchase, up to $250 per claim 4 times a year.
You can rest assured knowing that all your banking and borrowing needs are secure with our FDIC accounts that include: contactless payment, multi-factor authentication, and protection against unauthorized purchases. If your card is ever lost or gets stolen, you can lock your card instantly right within the mobile app.
Savings or Investments
Looking for a higher return on your money than a savings account? You could be earning more interest in a fully managed auto-investing account with MoneyLion. Easily set up your account with a few basic questions to determine your investment strategy and risk tolerance.
There are no minimums to get started and you can withdraw and add funds whenever you’d like. For a more effortless approach, turn on auto-investing. All you need to do pick a recurring amount you’d like to invest consistently and we’ll do the rest!
Your Credit Score
Need to build credit from scratch? Skip the credit card and borrow with MoneyLion’s Credit Builder Loans. You can borrow up to $1000 without a hard credit check. You’ll receive some funds the same day and the rest is saved for you in an interest-earning Credit Reserve account. After you’ve paid your loan in full, the remaining funds are released to you, plus interest!
Here’s more on how to build credit without using a credit card.
Navigating through insurance policies can be monotonous. As boring it might be, taking the time to research policies that work for you and your family is important. Once you’ve decided on a policy, use the MoneyLion Financial Heartbeat tool. Click on the shield icon in the mobile app and tap on the insurance policies you have to boost your Financial Heartbeat score.
2. Write Down Your Goals
Design a vision board for 2021 with both personal and financial goals. For example, If you want to pay off a credit card, have a picture of your statement on the board with the words ‘PAID’ written over it. Plaster your board with images and quotes that help you envision accomplishing your goals. You can pair this with a journal documenting your journey, writing down the good (and the bad) allows you to reflect on your progress.
Don’t forget to schedule a weekly check-in with yourself. It sounds a little silly to have a meeting with yourself, but this is crucial! This is your time to evaluate your progress thus far and to see where you need to improve and focus.
3. Come up with a plan to reach your goals
Now that you know where you stand with your finances, create a roadmap to help you reach your ultimate financial goals. Break your plan down into manageable goals to hit throughout the year. For example, if one of your goals is to save $1k by the end of the year, break it down into a monthly goal of $83/month.
Now, you can track your progress monthly and make adjustments as needed, instead of scrambling at the end of the year to hit your goal. Use these same principles for paying off debt. Take the total amount you owe and break it down into smaller less intimidating monthly goals.
4. Join America’s most powerful financial membership
Manage your finances effortlessly in 2021 with MoneyLion’s epic line up of finance tools. Check them out below!
- No minimums and no hidden fees
- Early payday up to 2 days with direct deposit
- Access to borrowing power from Instacash and Credit Builder Loans
- Instant virtual debit card for contactless payment
- Over 55,000+ no fee AllPoint ATMs nationwide
- Rewards program featuring priceless surprises, online cashback deals, and shake ‘n’ bank
- Spend tracker report
- Access to a fully managed investment portfolio for only $1/month
- Receive up to $250 within minutes on the mobile app
- 0% APR
- No monthly fees or hidden fees
- No hard credit check required
- Payback on your next payday
Credit Builder Loan
- Competitive APR
- Borrow up to $1000 with instant approval
- Same day funding
- Weekly credit updates-credit improvement up to 60 points within 60 days!
- Exclusive Instacash benefits
- 12-month loan term with affordable payments
- Credit Reserve Account that holds some of your funds and earns interest while you pay off your loan.
- Personalized portfolios for RoarMoney users
- No Minimums – add or withdraw funds whenever!
- Invest in your interests with thematic investing
- Effortless investing with auto-investing
A Fresh Start To A Financially New You
A New Year can bring a fresh perspective and new beginnings. There’s no better place to start than with a modern bank that has your needs in mind. Using tools from MoneyLion, like Credit Builder Loans, you’ll be boosting your credit and crushing goals in no time! Sign up for your RoarMoney account today and bring on the New Year in style!