If you are a person who makes yearly resolutions consider adding these 3 Financial New Years Resolutions to your list.
Set Financial Goals
Chart your financial path for the New Year with clear and measurable goals. Set these goals based on the most important aspects of your financial life. As the saying goes “If you don’t know where you’re going, any path will get you there.”
For example, you may want to save a larger emergency fund or pay down the balances on high-interest credit cards that have crept up recently. No matter your goals, be sure to write them down and create a system for tracking your profession on them.
Create a Household Budget
To get a handle on your personal finances you must understand where your money comes from and where it goes. This is usually the first, and sometimes the hardest. Setting up your budget requires complete honesty and transparency with yourself about your spending habits.
There are numerous amounts of online software that can be used free such as Every Dollar or products such as Quicken subscription fee. I suggest that individuals used budget tracking software such as these as it provides guidance on how to set up their budget accordingly.
Get Financally Educated
One good way to accomplish your financial resolutions is to subscribe to a personal finance podcast. From investing, retirement, and saving for college these podcasts cover a wide range of topics.
Another good way is to read a personal finance book. Just like podcasts, there are hundreds to choose from. Ensure that you select a book that focuses on what your financial resolutions for 2021 are.
Here at CWC we are excited for you to have a financially successful 2021. If you are unsure as to where to start on your financial resolutions contact us today!
