- Sweep out old spending habits – Take a look at your current spending habits and take note of some areas you could cut back on in order to save more.
- Dust off your budget – As your tracking your spending, using a budget is a great way to keep you on track. So if you haven’t been using a budget, now is a great time to start.
- Toss out your debt – Use this time to tackle some of the debt hanging over your head. Use your budget to come up with a debt payment plan that fits your lifestyle and stick to it.
- Plant the seeds for your financial future – Whether you’re planning for retirement, buying your first home, or reaching another financial goal, it all has to start with a plan. Your financial plan is likely to change throughout the years, which is why starting early to get a plan in place will make it easier to navigate changes in the future.
Posted by Megan A. Rinaudo, CFP® on Fri, 04/30/2021 - 10:51