Analyze Your 2024 Financial Habits

It's time to reflect on the year 2024, with regard to your finances. Consider not only your actions but also your mindset. Do you want your 2025 to be the same as your 2024? When you consider your 2024, financial habits, there are some pertinent questions to ask yourself.

Analyze Your 2024 Financial Habits

It's time to reflect on the year 2024 with regard to your finances. Consider not only your actions but also your mindset. Do you want your 2025 to be the same as your 2024? When you consider your 2024 financial habits, ask yourself the following questions:

Q: Was my spending intentional or frivolous?
Q: What areas need to be improved?
Q: Did I adhere to my monthly budget?
Q: Was saving money a priority?
Q: Did my expenditures include investments?
Q: Were many of my expenditures tax-deductible?
Q: Did I set financial goals and achieve them, such as an increased credit score?
Q: Did my spending include financial products that offer protection and stability for your loved ones such as a life insurance policy or an annuity?
Q: Did my expenditures include financial products for retirement such as a 401(k), IRA, and/or an annuity?
Q: Did my spending include supplemental items such as a lock box (cash box) and antivirus/anti-malware protection?
Q: How can I enhance those spending habits that were successful?

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-- Savings: Develop a savings strategy for 2025. This should include a traditional savings account and a mutual fund. (Understanding that a mutual fund is an investment product.)

-- Budget: A monthly budget is a must. As I wrote in my 2015 award-winning personal finance book, "Money Minute: Financial Food for Thought - Volume 1," not having a budget is like setting out on a journey in your car without knowing your final destination.

-- Financial Needs Analysis: Everyone needs an FNA (Financial Needs Analysis). People are under the misconception that you need to be rich to have a financial advisor. Not so. You do not need to be wealthy to have a financial assessment. In fact, utilizing the services of a financial advisor helps to build and maintain wealth. Having an in depth analysis of where you stand financially will help you to see what areas need to be strengthened and what other areas need to be addressed for the ultimate goal of having full financial protection. *** I and my colleague would be happy to give you a free financial needs analysis. Just contact me via email the following email address:  pgMoneyMinute@gmail.com.

Make 2025 a successful year full of purpose and prosperity.

***** Get a free đź’µ Financial Needs Analysis *****
Call (484) 416-0442 Use code AC Focus

(Paula Goddard is a contributing writer for Atlantic City Focus. She is an award-winning writer, personal finance advisor, community organizer, and educator. She can be reached via social media @paulasuniverse and via email at pgMoneyMinute@gmail.com.)


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