Money Resolutions for the New Year

According to Statista the most popular new years resolutions are to exercise more and eat healthier. Those are great, but I encourage you to not leave out your finances this year. Here are a few suggestions to get you started.

For starters, now can be a great time to review your financial security. 3 in 5 people expect to experience a financial loss from identity theft this year, according to research by the American Institute of CPAs. Have you embraced password management software or a fraud monitoring service?

Another resolution might include your estate planning. Maybe you need to get started with a will. Maybe it’s now time to establish a trust. Maybe it’s time to share your estate plans with your loved ones. No matter the decision, it’s important to talk with an estate attorney. Although we don’t offer these services, be sure to ask and we can provide recommendations.

Many of our clients are charitably inclined and this factors into their resolutions. Sometimes this means setting a new philanthropic goal or a donor-advised fund. For others, this means spending more of your time giving back in the community. Either way, you’re making an impact today and inspiring future generations as well.

Last but not least, we see a number of resolutions as it relates to investing. This can be a great time to help ensure your portfolio aligns with your values, beliefs and issues that matter most to you. This is certainly an area where we can help.

These are just a few quick ideas for setting new year’s resolutions around money. Remember, it’s never too late to make positive changes in your financial life. With some careful planning and the right team of advisors, you can set yourself up for a financially successful year.