{"id":9200,"date":"2021-01-07T15:22:07","date_gmt":"2021-01-07T15:22:07","guid":{"rendered":"https:\/\/zackspcg.com\/blog\/?p=9200"},"modified":"2022-02-26T13:05:59","modified_gmt":"2022-02-26T13:05:59","slug":"4-smart-easy-to-start-financial-habits-for-2021","status":"publish","type":"post","link":"https:\/\/zacksim.com\/blog\/4-smart-easy-to-start-financial-habits-for-2021\/","title":{"rendered":"4 Smart, Easy-to-Start Financial Habits for 2021"},"content":{"rendered":"\n

Gano C. from\nShreveport, LA asks: <\/em>Hi Mitch and Happy New Year. I\u2019m trying to form some\nbetter financial habits in the new year. Do you have any tips?<\/p>\n\n\n\n

Mitch\u2019s Response:<\/strong><\/p>\n\n\n\n

Thanks for writing, Gano, and Happy New Year to you as well!\nThere\u2019s no better time than the new year to instill some new, positive habits\nin your financial life. I\u2019m glad you\u2019re thinking ahead.<\/p>\n\n\n\n

Here are four tips I have for you \u2013 and for all readers \u2013 to make improvements to your financial life in the new year.<\/p>\n\n\n\n

1. Create Manageable, Realistic Goals<\/strong><\/p>\n\n\n\n

One of the biggest problems I see in goal-setting is when\npeople create big, sometimes abstract goals. Having a goal of \u201cfinancial\nsecurity in the new year\u201d is wonderful, but I would argue it is too abstract to\ngive you meaningful steps and a blueprint for executing. <\/p>\n\n\n\n

My advice to you is to create more manageable, realistic\ngoals. A great place to start is in establishing emergency reserves, i.e.,\nenough cash to last you six months to a year should some unforeseen emergency\narise. If you have a goal to save $10,000 in 2021, you could break it down by\nsaving $400 every two weeks \u2013 more realistic, more manageable.1<\/sup><\/p>\n\n\n\n

Even if your new goal is simply to set aside $50 a month in\na college savings fund or an IRA, remember that these small, incremental\nsavings are meaningful and will contribute to your financial well-being.   <\/p>\n\n\n\n

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How You Can Handle Volatility in 2021!<\/a><\/strong>
<\/a> \u00a0
As we enter the new year, we face many unknowns and market changes especially as we continue to navigate this pandemic. This may result in emotional decision-making, as many investors question the moves that they should make when approaching this new time in the economy.
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The real challenge is not in finding a way to eliminate volatility\u2014it is developing a mental approach to dealing with it. Our guide, \u201cHelping You Manage Market Volatility,\u201d will provide you with insights and tips to do just that. Get answers to questions like:<\/p>\n\n\n\n