Setting up your financial resolutions for 2025
If you’re looking to keep up with your finances in the new year, it’s best to set financial resolutions that are easy to follow.
First thing to do when making your financial resolution is to balance your budget. That means take a moment to look over your budget and plan for the new year. You can even budget for certain things, like how much you eat out.
Second, begin to start saving for emergencies. You’ll want to have up to 5% of what you budget for saved.
Paying down debt is another thing to achieve in the new year. That means you want to make sure you are putting more towards payments with a high interest rate on them, more than the minimum.
Fourth, Rebalancing accounts, making sure that you are not taking more risks in investments than you need to.
And finally we should review estate documents. Every five years you should pull out important documents and double check that the beneficiaries that you have listed are still the same.