2021 is a fresh start for many things, including for people who want to set out on new financial goals.
If you're wanting to get on the right financial foot, David Sant from Cyprus Credit Union, says pay attention to these five things.
MAKE DEBT ELIMINATION PLAN
Depending on the amount of debt you have, having a strategic plan in place to get this paid down may be the difference between actually getting them paid off or just making minimum payments and racking up tons of interest.
PLAN FOR FUTURE
If you haven't in a while, take a look at your current retirement and insurance situations. Your future self will thank you for finding and take care of anything that needs to be changed or increased.
CREATE ESTATE PLAN
If you don't already have one, make it a priority. Not having one in place may cause your estate to be subject to state laws affecting where your assets will go.
KNOWLEDGE IS POWER
Ignorance isn't necessarily bliss when it comes to your finances. Utilizing resources that are available, such as podcasts, books, blogs, etc. can help arm you with the knowledge to make decisions with confidence when it comes to your finances.
BE MORE HANDS ON
If you've been complacent or tend to let your finances run on autopilot, make it a goal to be more hands on with your money. Set aside specific times to examine your finances and check up on your financial goals. Include your partner and/or family where it's necessary/important.
You can find more information at cypruscu.com.
