With 2020 just weeks away, many people in Louisiana and across the country are undoubtedly thinking about resolutions they want to make for the coming year. Some people may want to lose weight, get a new job or take care of obligations that they may have been putting off. For others, finding debt relief in the new year may be a desired goal.
It was recently reported that 84% of participants in a 2020 New Year Financial Resolutions Study indicated that they would rather save $5,000 than lose 5 pounds, and 84% want to lower their debt more than they want to reduce their screen time. The survey had over 3,000 participants. However, 51% of participants indicated that unexpected expenses could hinder their attempts at achieving these financial goals.
Saving more, paying down debt and spending less were the three top financial resolutions for 2020. For individuals who truly want to reach their goals, it may help them to be as specific as possible. By having clear and realistic goals, they may have a greater chance of achieving than if they were too broad or unrealistic. It can also help to stay on track by celebrating milestones on the way to reaching those goals.
If Louisiana residents want to make financial changes in 2020, they are not alone. Of course, for some consumers, finding debt relief may seem too difficult. Fortunately, even individuals with substantial debt can find ways to make the new year work for them by learning more about bankruptcy. Taking this step may allow interested parties to address debt issues and start fresh in the coming year.