As we begin a new year, we think this is an excellent time to set goals for ourselves.
We have the tradition of sitting down on New Year’s Day and celebrating what we accomplished in the previous year and then setting personal goals for the new year. We hope you get the opportunity to do the same; it is quite inspiring.
Your Financial Checklist for 2021 Goals:
1. Update Your Budget
Review your spending and update your budget.
2. Have an Emergency Fund
Create an emergency fund if you do not have one. Make sure it is large enough if you do have one.
3. Review your Saving for Retirements
For the people that are still working, review how much you are saving for retirement to make sure you are on track with your financial plan.
4. Pay Down or Pay Off Debt
Review your amount of debt, especially credit cards, and if the amount is too high, set goals to pay them down during the year.
5. Estate Planning
If you do not have an up-to-date estate plan and living trust, make this the year you get everything in order.
6. Give to a Charity Near and Dear to your Heart
Consider incorporating donations to your favorite charities as part of your budget and financial plan for 2021.
Make 2021 a Successful Year
Our Financial Journey Partners clients have a personal financial portal that is a tool for them to update their financial goals, formulate a budget and track spending along categories. We encourage you to increase your financial awareness and if you need help or a second opinion, contact us and engage your financial advisor. We want to be your partner on your financial journey.