Your Money Matters: Advice for a healthy financial new year

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Kathy Roser

Financial Tips for a Healthy New Year

Set Goals
When we clearly define and articulate the financial accomplishments we would like to achieve, we are more focused and motivated to achieve them.

Develop a Budget
This will help you determine how much money you need to set aside each month to cover expenses and other necessities.

Devise a Plan to Reduce Debt
Based on your budget and financial goals, determine how much additional money you can realistically put toward your debt each month. Don’t have extra income? Look for ways to cut back on monthly spending.

Cut Monthly Expenses and Spending
Knowing where your money is going can help identify where you can cut back. Remember, every little bit adds up

Build-Up Your Reserves
If you don’t have a financial emergency fund (savings), or haven’t started thinking about your retirement nest egg, this is your time!

Check your Credit Regularly
With the holiday season, it’s likely that you’ve been using your credit card all over the place. Start the New Year by ensuring that your credit is in good standing.

Make an Effort to Become Financially Educated
Staying up-to-date with your finances is important, but you should also know what’s going on in the financial environment. Doing so will make you financially savvy and help you meet any financial goals you make for the New Year.

Morgan Stanley’s website:


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