Managing Your Money in the New Year

We’re starting the New Year with a tough (but basic) truth:

There’s no magic to financial stability.

We can’t wave a wand to better finances, but achieving that goal boils down to a few key guidelines, ones we share with all our clients. (Now, there are systemic blocks to building wealth for millions of Americans, but that’s a different story for a different newsletter).

This past December, Clarifi counselor Mariah Williams shared some of those guidelines with NBC Philadelphia.

  1. Set realistic goals. “If you are not honest with yourself, you can’t reach your goals,” Mariah said.
  2. Track your spending. Know where your money is going to see where you can save. Budgeting apps can help with this.
  3. Make financially healthy changes. Yes, you can still order takeout, but cut down on it weekly and opt for home cookin’.
  4. Start a savings habit, no matter how small. And automate it! Ask your employer split paychecks between your checking and savings accounts.
  5. Stick with it, and you will see results. Whether you’re trying to pay down debt or save money, it’s a slow process. Just stay the course. 

Check out the full interview here: