Naughty or Nice List: Financial Habits to Drop (or Keep)

Santa Claus is coming to town, and 210 Financial has complied its financial “naughty” and “nice” list just in time for the holidays.  

 

Naughty List:  

These habits might feel tempting, but they can throw your financial goals off course:  

 

Not having specific saving goals: Without clear goals, saving can feel less rewarding. Setting specific targets gives you a purpose to work toward and helps you prioritize what matters most. Having these goals is essential in making sure your financial decisions align with your values and long-term aspirations. 

Overspending on nonessentials: It’s easy to indulge, but overspending can quickly drain your budget, leaving you feeling more like Scrooge than Santa!  

Not planning with a budget: Without a budget, it’s tough to keep track of your spending and prioritize what matters most. A budget will help you work toward your larger financial goals like retirement.   

Learn More: How to Create a Budget That Work for You: Practical Steps for Financial Success 

Having no emergency fund: Life’s surprises are easier to handle with a cushion. An emergency fund is a must-have for financial stability.  

Forgetting about retirement: It might seem far off, but neglecting retirement planning can lead to missed opportunities for long-term growth.  

 

Nice List: 

These habits will make your finances merry and bright—and help you stay on track to reach your goals!  

 

Budget responsibly: Planning your monthly spending allows you to cover essentials, save for goals, and enjoy the holiday festivities worry-free. 

Learn More: 4 Steps to Learn Financial Accountability 

Create an emergency fund: When crafting an emergency fund aim for three to six months of expenses. It’s a gift to your future self that will provide comfort year-round.  

Set good financial goals: Specific goals keep you motivated and make it easier to track your progress.  

Regularly review and update your financial plan: Financial needs and goals change over time, so updating your plan helps keep things on track.  

Prepare for retirement: Building a retirement plan now can possibly ensure you’re ready to enjoy the golden years you’ve worked for.  

Learn More: Blueprint to a Relaxed Retirement: 5 Essential Pillars of the 210 Financial Plan 

Have a financial advisor: An advisor can help you stay on the “nice” list by providing guidance, support, and strategies tailored to your financial journey. 

  

Conclusion:  

Whether you’re celebrating your spot on the “nice” list or realizing there are some “naughty” habits to kick, there’s always time to improve your financial well-being. The team at 210 Financial is here to help you start the new year strong, with the support and knowledge you need to make every year brighter.  

Ready to create your financial plan for success? Contact us today to schedule a meeting and set yourself up for a prosperous new year! 

 

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