Start the year with a clean slate and get your financial life in shape. While this means different things to different people. It’s all about setting a goal and achieving it. Or even multiple goals to reach an end.
Your financial well being is your personal business— literally. You should be treating it like it is. Here are a few tools that can help you reach your goals depending on what they are:
MANAGE YOUR CASH FLOW
WHO’S GOT YOUR BACK
Find a financial advisor, wealth manager, or even peer group that will help you set your financial strategy and goals. These people help you achieve your goals and create accountability. Your bank will have financial advisors for you to speak with; however, do your research and you also will find private wealth managers at investment firms. Check out wife.org for referrals and groups.
Take a close look at what you are saving for retirement—we’re going to take a guess and assume it’s not as much as you could be stashing. Remember that no one ever looks back and wishes they hadn’t saved so much for retirement. There are any number of retirement calculators online which all vary slightly. Your best bet here is take this to your advisor and figure how much you can afford to invest in your future.
WRANGLE YOUR DEBT
For some, debt is our biggest financial stressor—whether it is educational debt, credit cards, or other obligations. We suggest checking out readyforzero.com, which will help you analyze your credit cards, payment options, budgeting, and more.
TIP FROM THE PRO
Build your executive team
The way you handle your finances should be a lot like how a savvy CEO runs a successful company: by instituting a team of advisors and experts to help make the right decisions and impart growth. Well, guess what? You are the CEO of your financial life. Ensure growth and stability by building your team with a trusted financial advisor, accountant, attorney, and even key experts such as a life coach.