New Year’s resolutions: financial movements to make for 2021

New Year's resolutions: financial movements to make for 2021

We survived the disaster of 2020. It’s a new year, which means it’s time to set our goals and resolutions for the coming months. Here are my recommendations on what to do now to help you have a successful year financially. Many companies weren’t able to offer raises to their employees this year, and many employees felt lucky if they were still employed. However, if you were lucky enough to get a raise for 2021, be sure to keep saving or investing money at the same rate as last year. If you are currently saving 15% of your income, whether in a bank account, retirement account, or elsewhere, continue to save that higher percentage of your income. You will place more without noticing the change. You may have received new benefits for the year. Although joining these perks was in December, you can still plan how you want to use them. Specifically, if you have been offered a Health Savings Account (HSA), you can begin to maximize your contributions to that account. If you can afford to cover health care expenses out of pocket – like deductibles, copayments, and prescriptions – you can leave the account to grow intact and invest it for future growth.

Highlights

  • According to Forbes “New Year’s resolutions: financial movements to be made for 2021”.
  • Here are my recommendations on what to do now to help you have a successful year financially.

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