Top Ten Financial Resolutions in 2016
Eileen St. Pierre, The Everyday Financial Planner
As we all get ready to ring in the New Year, I wanted to offer my countdown of top ten financial resolutions in 2016:
10. Write down your financial goals for 2016. Set up a text alert every month reminding you of your goals.
9. Before you go clothes shopping, clean out your closets. You may just re-discover a few outfits you haven’t worn in a while.
8. Set up an automatic transfer to your savings account every time you get paid. If you put $25 in savings every two weeks, you will have saved over $600 by the end of the year.
7. Why is it necessary to have a $100 collision deductible on a 1992 Ford Explorer? Look for ways to save money on your auto insurance. Raising your credit score can help.
6. Repeat after me: Winning the lottery is not an effective retirement plan!
5. Time to update your W-4 with your employer. Do you have the proper tax filing status and correct number of withholdings, or are you giving Uncle Sam at tax-free loan?
4. Spend your time watching YouTube videos productively. Learn how to change your own oil.
3. Do not spend more than 10% of your tax refund. Use the rest to pay off debt. If you have anything left, put it in your emergency fund or retirement account.
2. Rebalance your retirement portfolio. I haven’t done it in a while – time to practice what I preach!
1. Finally make that appointment to talk with your financial advisor. We really do want to help you!
Best wishes for a happy, healthy, and prosperous New Year from
The Everyday Financial Planner!