As the year winds down, it’s never too early to start planning for a fiscally successful 2022. Whether you’re a finance novice or have successfully managed your money for years, you can always benefit from learning new smart ways to manage your finances, like these tips below.
Evaluate Insurance Needs
It’s a smart idea to have a yearly insurance evaluation West Lebanon NH to be sure you’re meeting all your current and future needs. Your insurance agent should sit down with you and take a thorough look at your policy to check for any gaps that need filled. Depending on your age, family size, and goals, you may need to adjust your policy to manage your needs.
Check Your Retirement
You want to periodically check that you’re on track toward a successful retirement. Evaluate your 401k with an advisor to be sure you’re contributing enough. You can make adjustments as needed. A good rule of thumb is to increase your contribution amount when you receive your yearly raise so you don’t fall behind and are able to retire when the time comes.
Review Your Budget
Take a look at your budget to see where you can make cuts and adjustments. Are you spending money on things you don’t use, such as old gym memberships or streaming subscriptions? Cut those out of your budget to save money each month. Automate bills when you can to avoid late fees and keep a consistent payment schedule, and always be sure your budget includes a line item for savings.
Ask for More
Has it been awhile since you’ve received a raise? The start of a new year is a great time to ask your boss for more money in your paycheck. Show your boss what an asset you are to their company and bottom line and you should be a shoo-in for a bigger paycheck.