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Optimal Health Daily - Fitness and Nutrition

2798: 5 Quick Ways to Improve Your Finances Before the New Year by Andy Hill of Marriage Kids And Money

Dec 8, 2024
As the New Year approaches, actionable tips for financial improvement take center stage. Learn the importance of creating a budget and cutting unnecessary subscriptions to enhance savings. Discover the debt snowball method for debt elimination and the value of setting SMART financial goals. Explore ways to earn extra cash and reassess your monthly expenses to prioritize happiness. These strategies pave the way for a financially confident start to the new year!
12:25

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Quick takeaways

  • Creating a budget and tracking expenses provides crucial insights into spending habits, enabling individuals to identify potential savings and enhance financial health.
  • Implementing SMART goals offers a structured approach for achieving financial objectives, empowering individuals to measure progress and celebrate milestones effectively.

Deep dives

Creating a Budget

Developing a budget is essential for improving financial health. Tracking income and expenses helps individuals understand their spending habits, which can illuminate areas for potential savings. Actionable steps include reviewing recent bank and credit card statements to categorize spending in major areas such as housing, transportation, and entertainment. By gaining clarity on financial flows, individuals can identify trouble spots and begin to make informed adjustments towards eliminating debt and building wealth.

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