Kathleen Finnegan

2021 Financial Resolutions

It makes sense that New Year’s resolutions are not front and center this year, but have you considered being resolute with your finances?

Here are three simple shifts you can make financially to help reach your financial and homeownership goals. And if you’re a first-time homebuyer, these simple steps are a great place to begin.

#1

Budget setting often feels a bit tedious and for some can be difficult to keep up with. One way to decrease this stress is instead of attempting to reach monthly budget goals, set weekly ones. Checking in on your budget only twice a week (Tuesday and Friday) helps you to stay up to date with your finances and makes reaching small goals simple and efficient.

#2

Do a credit check-up. Take a look at your credit and decide the top two areas where your finances are decreasing your score the most. Every month consider doing just two things to bring about improvement. Whether paying off a debt or paying a credit card on time, over time this adds up and moves you in the right direction. If you need guidance on this reach out to me through the information below and I may be able to refer a financial professional.

#3

Deepen your emergency fund. If you have a financial goal to purchase a home or make an investment, having a deep emergency fund (used only for emergencies), may likely give that extra boost you need to make the purchase. When developing your weekly budget, consider automating a portion of your income specifically to your emergency fund. This not only helps you save for a rainy day but is proof that you are not only budgeting but building your financial confidence.

This entry was posted on Monday, January 4th, 2021 at 8:13 pm and is filed under Tips & Tricks. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.