Financial Resolutions

There are certain duties that come with being VP-Finance for Triangle KD.  Among other things, the job involves collecting annual dues from members, paying National Kappa Delta service fees and setting a workable budget.

Spending funds wisely is extremely important to making sure the money lasts for future years.

In our own personal lives, it makes sense to treat finances in the exact same way.  A new year is just upon us and what a great time to sit down and evaluate those pesky finances.

Based on a Fidelity 2014 New Year Financial Resolutions Study, 54% of Americans will typically consider resolutions regarding their own finances.

With that, here are five simple things that you can do in your normal day lives to help solidify your financial position:

1)  Build a Cash Reserves Fund – It can be hard to do but it’s necessary.  When an emergency strikes, it’s comforting to know there is cash available and no need for borrowing of funds.

2)  Contribute to a 401-k – Pay yourself first.  Money comes out of your paycheck automatically.  If your employer matches, make sure you’re contributing at least the same percentage.  It’s free money!

3)  Identify a Few Areas to Reduce Spending – Bring your lunch to work or get rid of cable.  Try setting spending limits for the different areas of your budget.

4)  Communicate with Your Loved Ones – Financial discussions can be difficult, but they’re important.  Many marriages become distressed when communication lines are closed.

5)  Splurge Sometimes – If you’re constantly counting pennies, it could hinder your ability to stick to a budget over the long term.  It’s okay to treat yourself every once and awhile.

Speaking of treats, how about treating yourself to a Triangle KD membership?  Only $25 annually (or $15 for recent grads), this is one expense that is reasonable and can remain in the budget.  Dues are collected beginning in January.  Be looking for information soon on how and when to pay your 2014 Triangle KD dues.

Many great things to come in the new year!

Frances Hymiller, VP-Finance

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