New Year’s Resolution for 2024

A very Happy New Year to all our readers! I hope you have had a wonderful holiday and are enjoying the warm summer weather.

In the spirit of New Years, this blog post is about what financial resolutions you should be making now that it is 2024.

The five resolutions

The first resolution should be to make a detailed budget and stick to it. It is crucial to have an overall idea of what you will be spending, as well as what you need to save.

Secondly, plan for the unexpected. Make sure you set aside enough emergency savings that you should be all right if, for example, you suffer a job loss, an expensive car breakdown, or have to take time off due to illness.

Thirdly, strive to educate yourself about financial issues. It is crucial to be financially literate, so that you can make the best decisions for yourself and your family.

Fourthly, if you haven’t checked in with your mortgage broker, it’s worth having a chat about your home loan’s health. With rising interest rates rocketing mortgage repayments skyward, your broker can help you reassess your loan.

Fifthly, if you are really struggling, it is worth speaking to a financial advisor. Now is the perfect time to put in place the changes you need to get to your financial goals.

Conclusion

In conclusion, if you plan for success this year, you have much more of a chance of achieving it than if you go in without a strategy.

If you need more information or would like further support, please reach out to the friendly team at AA Finance Solutions.