antalek Moore
New Year. New Goals.

Setting financial goals is at the top of many lists heading into the new year.
Whether you are saving for a home, putting money away towards retirement or paying off debt, setting the right detailed financial goals now will help keep you on your path throughout the year ahead. Here are a few tips for a healthier financial future for 2020 and beyond.
Set a monthly spending plan. And stick to it.
We know this seems like a pretty simple item but this can be one of the most important steps to achieving your goals. When you write out a monthly budget and begin to plug-in your money to specific categories, you will outline a clear picture of where each dollar goes. This will not only help show where you are spending wisely, but it will also help point out where can improve and cut back.
Pay off debt.
If this is a goal for you, be sure you set a specific goal on how much debt you want to pay off this year. After listing out your monthly spending, is there are additional money that you can make double the monthly payment? Be sure to take a close look at interest on credit cards and loans. Start paying off the higher interest ones first. While it may seem like a large task to achieve, following a debt payment plan will help you speed up paying off your debt.
Set up an emergency fund.
In an ideal world, you would look to have 6 months’ income stashed away for the just in case. However, the size of your fund varies depending on your situation. If you are working on paying off debt, purchasing a home or paying for college, your monthly budget might outline allocating more funds to those needs rather than allowing for additional money to go into savings. Don’t discount this all together though. Be sure this is a line item in your budget with the goal of having 3-6 months in the event of an emergency.
Set up a financial plan.
This is your long-term plan, your future, your children’s future. Included in this should be a timeline of life’s major milestones: buying a house, saving for college, planning for retirement. This should also include a strategy around your investments and plan to build wealth. Setting a plan now, no matter what stage of life you are in, makes all the difference and will help you make the right financial decisions. Meeting with a financial planner is a wise decision to work with a professional who will ask the right questions to get your plan customized to goals and desires.
When you’re ready to sit down and map out a plan that is right for you and your family, we are here for you. No pressure, no pitch. Just a conversation to help find the path that is for you.