The New Year is the ideal time to re-focus on your finances and take the time to review your budget, plan for the year ahead, and determine your goals for 2020. We are here to guide you on your financial journey – starting with some tips for budgeting and saving more:

DEFINE YOUR GOALS & BUDGET.  To effectively budget, outline your expenses and goals, then work them into your monthly budget. Goals can include anything from creating an emergency fund to saving for retirement to reducing debt or all of the above.

AUTOMATE YOUR PAYMENTS AND SAVINGS. Ensure you’re paying yourself first by setting up a recurring transfer of funds to your savings account on a regular basis or consider allocating a portion of your direct deposit funds right into your savings. Likewise, automating bill payments with merchants will help keep your bill payments on track, avoiding late fees and a potential hit to your credit score along with saving you time each month.

PREP YOUR TAXES. Designate a specific place to store important tax forms (1099-DIVs, 1099INTs, W2s, etc.) as they start arriving over the next month or so to keep them safe and organized. Consider starting a list of the tax forms you expect to receive and as each one arrives, check it off your list. Taking these steps make filing your taxes much easier come tax time.

CHECK YOUR CREDIT REPORT. Make it a priority to visit and obtain your free report from each reporting agency on a regular basis. When reviewing, look for errors, fraud, and opportunities to consolidate debt.


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