Financial Strategies for the New Year

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As the new year begins, many people are looking for ways to improve their financial future. John Labunski, a personal finance expert and certified financial planner, has some tips on how to kickstart your savings plan.

Labunski suggests beginning by assessing where you currently stand financially. He recommends taking stock of your income, expenses and debt and setting up a budget that reflects your goals. “You can’t get anywhere without first knowing where you are today” he says. He also suggests starting an emergency fund in case of unexpected costs and contributing to retirement accounts such as 401K or IRA plans when possible.

Next on his list is automating saving so that contributions are made each month regardless of what other expenses arise during the month. John Labunski states these small steps will help build good habits for long-term success with finances.

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