The start of a New Year is one of the best times to look at improving your family’s financial stability. From purchasing term life and mortgage life insurance, to creating a household budget, here are 4 simple tips that will build your wealth in 2019.
Being financially stable is extremely important, especially if you have a family to support, and while products such as term-life and mortgage life insurance are key to protecting your loved ones, creating and sticking to a household budget is just as crucial.
In fact, having a family household budget can have numerous benefits, including:
- It helps you eliminate wasteful spending
- It can provide some financial breathing room at the end of the month
- It helps you set and attain important financial goals
- It improves your chances of eliminating debt
- It teaches your children about financial responsibility
Our Mortgage Life Insurance Can Keep You Financially Secure in 2019
Just like a household budget helps you build wealth and prevent financial setbacks, AIME’s 20/20 Mortgage Life Insurance product can help keep your family home and loved ones protected during some of life’s most unfortunate setbacks.
We offer affordable, flexible, and transparent mortgage life insurance, as well as disability, and critical illness coverage to meet all your unique needs.
4 Financial Moves to Make in 2019 to Protect Your Family
With a new year comes new goals, and as 2019 is almost upon us, now is an ideal time to reevaluate your financial situation. Whether you’re looking to eliminate debt, build your wealth, or create a new budget, here are 4 simple steps that will help you improve your family’s financial situation:
1. Decide what you want to achieve
Before 2019 comes around, you must decide what is the number one financial goal you want to reach in the new year. While it may seem obvious, you should make a conscious goal (and write it down). This could include:
- Creating a household budget and sticking to it
- Getting a higher paying job
- Eliminating your debt
Tip: Remember to be realistic when setting these goals. This will ensure that you don’t get frustrated and demoralized as the year goes on.
2. Get a Good Idea Of What You’re Working With
If you ever want to be financially healthy, you must know how much money you’re actually working with. Before the year ends, sit down with a notebook, or create an excel spreadsheet - whichever is easier for you. Then you should write down:
- How much money you earn
- All of your bills
- All of your extra expenses
Whatever is leftover should be used for your savings and additional debt payments.
3. Do Weekly Check-Ins
In 2019, you should schedule at least one time a week to check in with your money and spending. This can be a short ten minutes of seeing how much you’ve spent that week and compare it to what’s leftover for the rest of the month.
Sounds painful? This doesn’t have to be frightening or complicated. In fact, the more you do it, the less painful and more helpful it will become.
4. Choose One Monthly Expense to Eliminate
When you’re trying to build wealth or eliminate debt, every little bit counts, especially over the course of a year! One of the best things you can do to become financially stable is to get rid of the one item you don’t really need to pay for.
This could be a small subscription you don’t take advantage of or a gym membership that you never actually use. Once you get rid of any unnecessary recurring expenses, you can use the money to build an emergency fund.
Call Today
To find out more about how purchasing AIME’s 20/20 Mortgage Life Insurance can help keep your family financially protected in 2019, contact us at 1-844-974-2020 or fill in our online contact form.
