January is the month of resolutions, commit yourself to taking control of your financial house. When making your list of financial resolutions, we encourage you to consider the following;
Be honest with yourself
To help establish a budget, lay everything on the table, debts and all. It’s only when you know how much money you owe that you can realistically start to develop a financial plan to pay it off. Need a little extra help? Try using an app like Mint or Expense Manager to track your day to day expenses.
Think ahead
Build an emergency fund to cover unforeseen expenses. As financial advisors, we always encourage our clients, if they can, to save enough to cover at least three months worth of expenses.
Do your homework
Once your goals are clarified, make your plan. When establishing your plan, be sure to explore all of your investment options.
Ask an expert
Need a little extra help with your homework? Don't be afraid to ask for help. A financial planner, like our experienced team here at Continuum II, will help you to look at your financial situation as a whole. We will take into consideration your goals, your habits and your retirement needs and help you better forge a plan to save.
Be consistent
Start small with your investments and grow over time. Don’t start with anything you can’t afford to maintain. It is more efficient to make continuous investments, than to do large sums every once and awhile. Be consistent, it will pay off in the long run.
Establish goals
Set goals for yourself so you know how to allocate your savings, then create savings plans for each goal. Consider making automatic monthly payments to each goal. Note: It's important to prioritize your goal. While you may be longing for some sunshine, paying off your taxes is more pressing.
Focus on your finances.
Take a break from all the day-to-day responsibilities that stand in the way of planning your financial future. Many people take more time planning for their summer vacation than they do for retirement. This year, focus on your financial future.
Start small with your investments and grow over time. Don’t start with anything you can’t afford to maintain. It is more efficient to make continuous investments, than to do large sums every once and awhile. Be consistent, it will pay off in the long run.
Establish goals
Set goals for yourself so you know how to allocate your savings, then create savings plans for each goal. Consider making automatic monthly payments to each goal. Note: It's important to prioritize your goal. While you may be longing for some sunshine, paying off your taxes is more pressing.
Focus on your finances.
Take a break from all the day-to-day responsibilities that stand in the way of planning your financial future. Many people take more time planning for their summer vacation than they do for retirement. This year, focus on your financial future.
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