A new year rolls around and the gyms fill with people getting the year off to a good start and hitting their New Year’s resolutions.
Along with making your health a priority in 2022, it’s a great time to challenge your New Year’s resolution ideas and re-evaluate what’s important to you financially.
1. Know Your Goals
Bigger goals can be seen as long term New Year’s resolutions. Breaking down goals into short, medium and long-term can help drive action in the direction that you’re after. Having a clear picture can help guide you into performing daily tasks to bring you closer to your goals.
Budgeting can provide a great opportunity to save for retirement, or bring you closer to bigger purchases such as a house or car. Read our blog and get excited about budgeting.
3. Reassess Outgoings
It’s important to understand where your money is going. Insurance payments and what you’re actually covered for can be easily overlooked when evaluating your finances. Having an understanding of what is covered and what needs to be covered can help protect you and your family as well as unnecessary spending.
4. Prepare Your Taxes
Were you stressed out last tax time? Start earlier rather than later could help avoid unnecessary stress. With many free options to store receipts for deductions electronically, explore what applications will suit your lifestyle best to avoid a mad rush come June 2022
5. Getting Rid of Debt
Are you drowning under debt that isn’t serving your financial goals? Being aware of where you are can help you know where you want to be. Getting a good understanding of what debt you are currently dealing with and creating a plan to reduce debt that may be putting a damper on your financial goals may make a big difference.
Do you want to know more on getting financially fit in 2022? Book an appointment today with a Strategic Wealth Planner.
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