Happy New Year, we hope you had a wonderful holiday season and New Year’s. 2022 was certainly a rollercoaster of a year, with inflation at a 40-year high and the Federal Reserve rising interest rates as a result to combat inflation. 然而, 当新年来临的时候, we like to reflect on the year that has just past and set financial resolutions and goals for the year to come. So, let’s discuss a few great 2023 financial resolutions you can use to ensure you are starting your new year off on the right foot.
Prior to setting your financial resolutions, it’s a good idea to think about goal setting, 更具体地说, 如何设置挑战, yet realistic and attainable objectives for the coming year. We often talk about the framework of goal setting, distinguishing between short and long-term financial goals, thinking about your wants versus 你的需求, and sticking to a strategy to reach your goals. So, now that we discussed a little about how to set those goals, what are some good resolutions to put in place?
清偿债务
Paying off debt seems to be a common financial resolution as we head into 2023. If you have loans or credit card debt, think about creating a plan to pay it off and sticking to it. In this rising interest rate environment, if you have variable interest rate debt, make sure you know what interest rates you are paying and are setting a plan to attack your debt. If you need assistance in setting up a strategy to tackle your debt, consider seeking help from a financial professional!
制定一个现实的预算
当涉及到财务时, we see that individuals oftentimes are stressed about their budgeting and spending. Many Americans are now changing their budgets and re-thinking their spending due to inflationary prices all around. Global food prices hit a record high in 2022, so if you are feeling the impacts of inflation at the grocery store, maybe it’s a good time to review your budget and make sure it still works for you! 下一个, think about your cash flows, wants vs. 你的需求, along with long and short-term goals to reach a reasonable and realistic budget that works for you and your family.
自动化 & 跟踪你的财务状况
If you aren’t already doing so, automating your finances is a crucial way to get organized. Aggregating all your accounts into one place that is accessible at the click of a few buttons on your smartphone or laptop can drastically change how you view your overall financial picture.
为大采购/大目标存钱
不管是新家, 大学, 或者厨房装修, we know saving for a big purchase can be stressful. In a 推出金融 podcast episode with David Pearl, we discussed intentional and smart spending, and how there can sometimes be a psychological disconnect when saving for and actually spending money on a large goal. This disconnect and sense of stress is very common when saving for a big purchase, which is why it’s crucial to set up a savings plan and budget that works for you.
增加退休储蓄
The retirement contribution limits for 2023 have recently increased. If you are unaware of the retirement inflation-adjustments, click here for a breakdown of those changes. This increase in contribution limits is a great opportunity to ramp up your retirement savings in 2023. Also, if you are not taking advantage of your company 401(k) match, now is a great time to do so.
While these are only a few financial resolutions that may help you improve your financial stability and situation in 2023, there are endless moves that can be made to better your overall financial outlook.
