According to Fidelity Investments’ latest study, more than a third of respondents say they’re in a worse financial situation than the previous year. Only 65% believe they’ll be better off in the coming year compared to 72% in the previous study.
The top of our list is to revisit your financial goals at the beginning of the year. You have a better chance of realizing your goals when you set reasonable and specific ones that pertain to your needs.
To be financially disciplined, you need to understand how your monthly budget works so you can make improvements where needed. Your budget combines your actual income sources, less total expenses (fixed and variable expenses), and equals the bottom line.
Saving early for retirement is essential for your financial future. Making sure to understand the changes in retirement benefits through the SECURE 2.0 Act, signed by President Biden at the end of 2022.
5. Save For Retirement – Max Out Your 2023 Contribution Limits