4 Financial Tips to Start Off the New Year

Published on January 25th, 2016

New year, new you - right?

We’ve all heard the saying, New Year, new me, but how many of you actually stick to that? Well, we’ve come up with 5 things that will boost your prosperity in 2016 and start things off on the right foot, financially.

1.Pay off your credit cards

Since the Federal Reserve has started raising rates, the time is now to pay off your debts to avoid high interest. This is something you will feel in your wallet in the months to come if you wait.

2.Set up an emergency account

Sometimes emergencies happen, and you want to be financially set to handle the unexpected. Start small, maybe even just $10 a week, but by the end of the year you will have accumulated $520 to handle a financial set back.

3.Prepare yourself for the market

The market is expected to experience some bumps in 2016, so make sure you are able to handle the ups and downs that this will bring. Consider reworking your asset collection and possibly move a portion of equities into fixed income.

4.Ramp up your retire savings

Pay yourself first. Instead of paying for everything else, put a portion of your income aside for you, then take care of the rest, of course, if you are able too. This year, get in the habit of putting yourself first; it will help you in the long run.

If you are ready to take 2016 head on, then maybe this is also the year of homeownership for you! Whether you are looking to purchase or refinance, a member of the Housing Buzz Team would be happy to assist you.

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