The biggest retail season of the year is coming to an end and now…the receipts are being totaled! With the New Year already here, it’s time to think about setting your goals for 2021. Below are a few easy spots to start.

Set a Budget

Creating a strict budget (and following it) is one of the most fundamental steps in starting a solid financial plan. A common mistake that a lot of people make is setting a vague plan with broad categories. Instead, build your budget based on specific expenses of each month.

Track Every Penny

You spent all that time creating a detailed monthly budget, but it won’t mean anything if you don’t track your spending. This can seem like a daunting task, but with digital banking, apps and smartphones, it’s easier than ever. Accounting for every penny spent will allow you to stay on track for your monthly goal, which will lead to a successful yearly budget.

Build an Emergency Fund

If 2020 has taught us anything, it’s that you always need to be prepared. It’ll take some time to grow your fund, but don’t wait until it’s too late. It’s okay to start small, because every little bit can help!

Start Saving for Retirement

It’s never too early or too late to start saving for retirement. If you can manage to squirrel away a percentage of your pay, you’ll have something to fall back on in your golden years.

By incorporating a few of these small steps into your monthly strategy, you can make a huge difference in your financial standing. Like anything else, it may take some time to see the fruits of your labor. However, having a plan is a great step in the right direction. Of course, if you ever run low on cash, Heights Finance is here to provide fast and easy funding through our fixed-rate personal loans.