New Year's Financial Resolutions

To make a resolution and stick to it, the first thing is to prioritize your goals. Select topics from our list below which are the most pertinent to you and your business to get started on making 2011 a better year all around!

1. Create a monthly Budget
Catagorize your monthly expenses, then add them together for a total sum. By catagorizing these expenses, you may see areas where you can afford to make small cutbacks, therefore having extra money for other expenses such as marketing, or for a 'financial emergency fund' (extra money you should always have set aside for your business should something unexpected arise). If you're always on the go, Mint.com is a free online record-keeping and budgeting tool that can help you as well.

2. Eliminate Credit Card Debt
You've heard it time and time again, but that's because it's true: Pay down your credit card debt as quickly as possible to avoid high interest rates and improve your credi score. It will also help you get approved for future loans. Remember, Capital Edge Funding is here to help you find the best rate on your business loan!

3. Know and Improve your Credit Score
There are several ways to find out your credit score for free, the most popular of which are to Equifax, TransUnion, and Experian since they are required to give consumers one free credit report every 12 months. To formally request your free credit report go to AnnualCreditReport.com (you may order three credit reports at the same time, or at different times throughout the year from each company - just make sure you go through AnnualCreditReport.com for each request). Getting rid of credit card debt and making consistent monthly payments on any other loans, is the most obvious way to increase your credit score. Also be wary of any "credit card reward" programs as they are most often found to lead to increased debt (as reported by Consumer Affairs), and try to use 20% or less of your available credit.

4. Insurance
Make sure you and your business are properly insured - enough said! Check out Insure.com for quotes.

5. Do your Taxes Early
Why wait? Get a jump start while everyone else is sleeping off their holiday feasting and New Year's celebrations. Spring is the busiest time of year for most businesses, plus early filers also receive their refunds faster. Get your taxes together by February and you'll have more time and energy to put into your business when things get busy! IRS.gov