Don’t let your financial resolutions fall to the backburner this year - Al Zdenek

Resolutions are a great way to kick off the new year. They can help you jumpstart a life change or try to experience new things over the next 365 days. But resolutions don’t need to be only about weight loss, trying to read more or quit smoking. While these are all worthy resolutions, it’s also good time to reassess your financial goals for the year.

New beginnings are always a good time to organize your goals for the year. Do you want to prioritize your debt? Or maximize how you use your debt to create more cash flow? Do you want to start looking at new properties to buy? Or reevaluate your accounts and close any unnecessary ones? Is this the year that you invest in more stock? Or just increase your IRA contribution? Like any financial decision, it’s important to have a good plan and to stick to it. By determining what you want, you’ll be able to process the best way to get to your goal and create benchmarks to ensure you’re on the right track. So often, resolutions fall by the wayside by February. However, by having a plan in place with benchmarks that allow you to track your progress, you’re setting yourself up for success.

Since you’ll probably be meeting with your financial advisor or planner to go over your taxes, it’s not a bad idea to loop him or her in at the start of the year and then check in during tax season on your progress. This way you can also use their expertise and knowledge to set you on the right path to achieving your financial resolutions.

For more tips on how to stick to your financial resolutions, visit tswealth.com.