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And just like that, it’s March.
Has the ‘new’ of 2022 already worn off? Did it even have any shine to begin with?
Seeing that we’re a couple months in, is your financial plan still on track for the year ahead? Or, perhaps, you needed a beat but now you’re ready to start thinking about some goals?
Where are you on your financial planning goals for 2022?
Maybe you’re not one to make “resolutions” but you are ready to make some new goals? (Totally me – resolutions feel too vague for me.)
Perhaps you made a resolution but it has fallen so far by the wayside that you don’t even remember what it was, so now you need a do-over?
Or are you just so dominating any resolutions you previously made that you need more of a challenge?
Whichever camp you fall in (comment and tell me!), there’s something for you below that can move you closer toward financial security.
Go make it happen.
One and Done
If you’re looking for some easy wins, grab one or more of these tasks. They won’t take much effort (and most won’t cost you a thing), yet they’ll be a meaningful step toward protecting or advancing your financial future.
- Shop around for your utilities – gas, electric, water, internet, etc. (to the extent you have options where you’re located)
- Shop around for your home/renters and auto insurance; consider bundling
- Cut out unnecessary subscriptions/memberships
- Ask for a raise (and begin jotting down successes and kudos for the next time around)
- Update your resume (bonus points: apply for a job that sounds really cool to you, even if you feel a bit under-qualified)
- Apply for term life insurance (my husband & I used Policygenius)
- Apply for long-term disability insurance
- Update your beneficiary allocations on insurance policies
- Add a payable on death recipient to your banking and savings accounts
- Get a will (your employer may offer free or discounted options; also, if you are active or retired military, reach out to your local Legal Assistance Office – they will draft this and your powers of attorney at no charge)
- Get a living will/healthcare power of attorney
- Get a durable power of attorney
Winner, Winner Chicken Dinner
If you are ready to make a big move or change some habits, look no further. Write it down and start winning one day at a time.
- Pay off a credit card in full
- Set a monthly eating out/shopping/whatever you don’t actually need budget and stick to it
- Build an emergency fund (starter: $1,000 | advanced: 3-6 months of necessary expenses)
- Look for secondhand options before you buy new
- Don’t buy any toys for your kids (call me the Grinch, but your kids probably don’t need more stuff – get creative instead)
- Stop the daily Starbucks habit
- Start a side hustle
- Save more of your income this year than last year
- Max out/increase your retirement contributions (at least max out the match!)
- Begin contributing to a 529 or custodial account for your kids/grandkids
Get after it!
What resolution are you going to make happen? Tell me about it!
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