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    2021 Resolutions

    4 minute read
    Let’s take a look at some practical and achievable financial resolutions.
    Save money, spend less, and get six-pack abs—if only keeping resolutions were as easy as making them.
    According to a Fidelity Investment study on New Year Resolutions, of the nearly 70% of Americans who make money-related New Year’s resolutions, more than half prioritize saving more and yet only half of that group keeps their resolutions. It seems the key to keeping your resolutions is being clear and concise. One way to do that is by setting  smart goals with the easy-to-follow attributes: Specific, Measurable, Achievable, Relevant, and Timely.
    So, before the clock strikes midnight, let’s take a look at some practical and achievable financial resolutions for 2021:
    1. First things first, check your credit score. It’s hard to improve upon what you don’t know.
    2. Be healthy, wealthy, and wise without joining a gym. Work your spending plan and biceps at home and build up some financial slack at the same time.
    3. Don’t forget your 401k, okay? Seriously, it’s not okay to miss out on an employer’s matching fund.
    4. Out of sight, out of mind—Automate payments and never miss a due date.
    5. Double-down on your debts. Pay more than the minimum payment. Start small and increase each month.
    6. Cut the cable cord. Netflix and save when you start streaming and watch your financial slack grow.
    7. Get credit where it’s due—Call your credit card company and see if you can get a better rate.
    8. Listen and learn. Subscribe to a personal finance podcast for tips and become fluent in money.
    9. Spending Plan: Before & After. Don’t just make a spending plan, check after the fact and revise it based in reality.
    10. Expect the unexpected—Accidents happen and when they do it’s best to have an emergency fund.
    11. Don’t take your finances so seriously that you forget how to enjoy life. Building financial slack helps define a healthy balance for life and money.
    You don’t need a lot of resolutions to make meaningful change, just remember to make time to track your progress, practice patience, and most of all, celebrate the small wins of your sacrifices.  For help setting goals and making practical steps to spend, plan, save and borrow responsibly, stop by your neighborhood Financial Health Center and let us help you make sense of money matters.