To start the new year off on the right foot, here are six recommendations for you to think about to get and keep your finances in order.

1. Set your goals for the year.
   Do you want to pay down your debt? Pay off credit cards? Buy a new car or put a down payment on a house? It’s important to prioritize your goals for the year so you know how to plan your budget.
2. Build your emergency fund.
   If the last two years have taught us anything, life can be unpredictable. It’s important to have an emergency fund available for unforeseen purchases or circumstances. A good rule of thumb is to have three to six months’ worth of expenses in a savings account.
3. Look at your subscriptions.
   Are you still using that Netflix subscription? What about Spotify or Hulu or Disney+ or HBOMax? The list goes on and on. It’s important to take inventory of what you’re paying for and cancel any subscriptions that you no longer need. It could save you hundreds over the year.
4. Set up a living trust or will/estate plan.
   If the last two years have shown us anything, it’s that life is unpredictable. It’s important to make sure you have a living trust or will/estate plan set up in case something happens to you. You want to leave your family in a good spot and take away some of the pressure that losing a loved one.
5. Review or purchase life insurance.
   Life insurance is an important part of a financial plan, especially if your family relies on your income. Our financial advisors and team can help you determine the correct amount and type of life insurance that you need to protect yourself, your family, and/or your business.
6. Create a realistic budget and stick to it.
   Take inventory of your expenses. Look at the last few months bills to make sure you know how much to budget for rent/mortgage, cell phone and internet bills, student loans, etc. Sticking to a budget will help you save your hard-earned money to help you with your future financial goals.

These are just a few ideas to help you start the new year on solid ground. Our team is more than happy to have a conversation with you and your family about how we can help you reach your financial goals this year! If you’d like to schedule an appointment with one of our advisors, you can do so here! Happy New Year from all of us at Meridian Financial!