3 Ways To Master Your Money In 2022

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Happy, happy, happy new year!

I really love the start of a new year. So many of us are inspired by the idea of ​​a fresh start, this is the perfect opportunity to revisit and reset financial goals.

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So let’s make the most of this inspiration, shall we? Here are three things you must do to set yourself up for success in 2022.

1. Set realistic resolution. If you’re one of those people who are overly excited about New Year’s resolutions, that’s awesome. I commend you. But one of the most common issues with setting a resolution is making a promise to yourself that’s very hard—if not so. Impossible– in order to maintain. For example, you might say that you want to contribute $24,000 to your retirement fund at $24,000. This sounds like a good plan. But do you have an extra $24,000? Is this realistic with your spending plan? Experts say a common issue with New Year’s resolutions is that people tend to set big goals that are out of reach, and get frustrated as soon as that goal seems out of reach—and give up on the goal all at once. can. Don’t be that statistic! But at the same time, don’t have a resolution that is too vague. Something like “get serious about saving for retirement” doesn’t work. Instead, come up with a set number that is appropriate for your spending plan. Or, if your spending plan is a bit up-in-air, try to set goals that are concrete but not based on a fixed dollar amount — like making a will, starting a Roth IRA, or brokerage. account opening .

2. View your bank statements. I know you want your 2022 atmosphere to be glamorous, glittery and champagne-soaked; And studying your bank statement doesn’t really fit that lucrative vision. But hey, we check our bank statements so we can relish the celebratory moments—so we can’t feel guilty when we buy champagne, right? So check your bank statement. And when you do, pay special attention to subscriptions. Maybe you subscribed to something that started out as a free trial, and you forgot to cancel, so you’re now spending $9.99/month on something you don’t need Is. Maybe you have an annual subscription that’s about to renew, and you can grab it before the deadline. These are latent costs playing a game of hide-and-seek in your bank statement. So find them, and don’t let them ride your coattails into 2022.

3. Automate your 2022. Here’s the good news about this tech-savvy time: If you want to set yourself up for the year, you don’t have to work at it. Everyday, You can set up an automatic deposit Today Which will last throughout the year. You can set up an automatic sub-savings account to fund a financial project or goal; Or, you can automate deposits from your paychecks to go directly into retirement account or index fund investments. Is not it Great news? You can take an afternoon and set yourself on the financial track for the whole year. So why wouldn’t you?

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