As the new year creeps up on us, resolutions and goals for the coming 12 months are flooding through your mind, are they not? Resolutions are one of the most common New Year’s traditions, but very rarely do people choose resolutions that they’re likely to stick to or that they’re excited to work on. The financial advisors at Advanced Wealth Advisors challenges you to set some resolutions this coming year that will provide you with a better financial future.
Today’s blog post is entirely dedicated to providing you with an idea of where you can start when compiling your list of resolutions or, at the very least, provide some sparks for ideas of your own. Let’s get started!
Start to Budget
One of the most challenging, but also most beneficial resolutions that you could make is to start budgeting. This is a challenge that most people have, regardless of how savvy they are with their money or their age. While there is such a thing as financial success, there is a lot of improvement that can be made by simply creating a budget. That being said, if you have some financial goals that you’re wanting to work towards, budgeting might be the best resolution that you can make this new year.
Depending on what it is that your financial goals are, your budget is going to differ. If you’re trying to save a certain amount or pay off a certain debt, this is going to be taken into consideration while composing your budget. Aside from that, you’re also going to want to organize all of the places that you’re spending money alongside those areas. This means everything.
From the amount of money that you put towards bills to the amounts that you’re spending freely on other areas of fun and entertainment, your budget is going to take it all into consideration. From there, you can create a solidified structure for how you’d like to spend your money in order to achieve your goal. At this point, you can be as modest or as ambitious as you’d like to be.
This portion of creating your budget is where your individual needs, goals, and circumstances will come into play. If this is a goal that you are planning on setting in 2018, then you can count on our financial advisors to help work out the kinks of your budget as you create it. We’ll work together with you until we can find a budget that works well for you and tailors all of your needs as you move forward.
Get Out of Debt
The next goal that you could set for yourself is going to be paying off your debt. This is one of the main struggles that Americans have, and it’s one that needs to be tackled! Whether it’s a credit card, a student loan or your mortgage, getting a grasp of your debt is something that we strongly suggest doing this new year.
This goal could be directly correlated with the goals that you’re setting in terms of your budget, or they could be your only focal point with your finances this new year. Either way, taking time to focus on the debt that you have and creating a plan so that you can tackle it immediately, is a great place to start.
If you look at your debt and you’re not really sure where to start or how to create a goal to start working on, sitting down with one of our financial advisors is a great place to get things moving. We’ll sit down with you and cover all of your debts, the finances that you’re working with and a wide range of other circumstances that will affect how much of your debt you’re able to pay out. Working with a financial advisor that can crunch these numbers will also make it easier for you to figure what this next year is going to look like as you chase this goal, so consider setting some time aside.
The last goal that we’re going to talk about in relation to New Year’s resolutions is going to be tied to investing. Investments are a huge part of finances, especially as your finances develop and your savings begin to grow. As financial advisors, we love talking about investments. There are so many possibilities and capabilities when it comes to investments, we love being able to sit down and work with you to find what it is that you want to get involved in and what are your goals.
Investments are a more long-term strategy, and that’s one of the reasons that they make for a fantastic resolution and financial goal. In the time span of a year, it’s great to challenge yourself to actually make the investment, but in this time span, it’s also very good to develop knowledge and comfort with investments so that you can continue to grow and advance with your own finances. And it’s exceptionally important to remember than any investments should be made with a long-term time horizon.
Your finances web into various parts of your life, which makes the number of resolutions that you can create for yourself – endless. If there’s a specific part of your finances that you’d like to discuss, gain control of or learn more about, we challenge you to do so. Financial security is always going to be something that we as individuals strive for, so why wouldn’t you want to dedicate time to achieve those goals?! Regardless of what you’re looking to complete, our financial advisors can provide clarity, knowledge, experience, and guidance so that at the end of each day, you feel confident with where your finances are and the decisions that you’re making in regards to them.
When you’re working with financial goals, you can always count on the financial advisors at Advanced Wealth Advisors to provide you with guidance and honesty as you work through them. If you’re ready for some financial resolutions, then it’s time for you to contact our team and get the help that you need. We will schedule a time together so that you can start to plan for your new year and the goals that you’re going to set.
Our blog space is a fantastic place to find fresh content that covers a wide range of financial topics that can help you develop an understanding of your finances and the industry as a whole. Make sure to keep up with it since we are always adding to it and working to provide you with the best information and guidance around.