Article

Time to Revisit Your New Year's Resolutions

Time to Revisit Your New Year’s Resolutions

Many made New Year’s resolutions for 2024 to adopt healthy habits concerning their bodies, minds and finances. If your resolutions contained a desire to get your finances in order, you might consider that budgeting should always be the centerpiece of your financial resolutions. Here are some ideas that can help.

February 16, 2024
Time to Revisit Your New Year’s Resolutions
Important Disclosure: Content on our website and in our newsletters is for informational purposes only. The information provided may (or may not) directly apply to your situation. We recommend that readers work directly with a professional advisor when making decisions in the context of their specific situation.

Did you make a New Year’s resolution about seven weeks ago? For 2024, many Americans are making the resolution to adopt healthy habits – concerning their bodies, minds and finances.

If you are among the vast majority that want to save more money, then it might be time to get your overall finances in order. There is always more we can do to better the financial picture for ourselves and our families. There is every reason to make 2024 your year to accomplish what you set out to do.

Create a Budget

The centerpiece of any financial resolution – including saving more money – is to create a budget for the entire year. This isn’t as daunting as it sounds. Decide with your partner and family members what the big expenses are for 2024. Will you need to buy a new car? Take a vacation? Fix the roof or replace the air conditioner?

By planning ahead and setting aside money in advance, these expenses don’t hit your pocketbook as hard as they would if there were no plan. A family budget is a great learning opportunity for kids, as well.

Don’t allow mistakes you made in the last 12 months to affect your goals for the coming year. Allow yourself to mentally wipe the slate clean. Use previous stumbling blocks as your new goals for 2024.

Perhaps you had trouble with credit card debt, stress at work or gained a few extra pounds. Involve those challenges into your New Year’s plan. Setup a timeline for paying off debt, schedule time to de-stress and get away from the office, meet with a personal trainer or create a fitness plan that will work best for you.

Don’t forget to write down what you want to achieve and place it somewhere you see it each day. If nothing reminds you of your goals, then it becomes much more challenging to attain them.

Neither Asset Allocation nor Diversification guarantees a profit or protects against a loss.

Other content you may like

  • Unlocking the Power of Deferred Compensation

    Unlocking the Power of Deferred Compensation

    May 17, 2024
    Here is a strategic approach to retirement planning for today’s executives whose roles entail significant responsibility and compensation. Understanding Deferred Compensation with your financial advisor can help you strategize a plan with this powerful tool, offering executives an array of advantages in securing their financial future.
    Read this Article
  • What Happened in August + Student Loans

    September 2, 2022
    In this first episode of the newly created Monthly Market Matters, Adam and Kyle take a brief look at the beginning of August and how things changed up by the end. Also, they share non-political insight into the government's Student Loan forgiveness and a proposed plan that is being discussed for going forward.
    Read this Article
  • Time to Reassess Your Portfolio

    Time to Reassess Your Portfolio

    January 6, 2024
    Market swings often prompt investors to reassess their portfolios. Instead, regular review of your portfolio is helpful to remain aligned with your financial objectives. Maintaining a regular investment program and balancing your portfolio to account for a comfortable risk level are important to the overall success of your financial strategies.
    Read this Article
  • s Your Portfolio Music to Your Ears?

    Is Your Portfolio Music to Your Ears?

    September 1, 2023
    The concept of making music is similar to the challenging aspects of managing finances in today’s economy. Decisions about the various financial instruments that can be used for your particular objectives and your risk tolerance can come into harmony through guidance from a professional financial advisor.
    Read this Article
  • The link you have selected is located on another server. The linked site contains information that has been created, published, maintained, or otherwise posted by institutions or organizations independent of this organization. We do not endorse, approve, certify, or control any linked websites, their sponsors, or any of their policies, activities, products, or services. We do not assume responsibility for the accuracy, completeness, or timeliness of the information contained therein. Visitors to any linked websites should not use or rely on the information contained therein until they have consulted with an independent financial professional. Please click “Continue to Link” to leave this website and proceed to the selected site.
    phone-handset