It’s a new year, and it has many people wanting to get a hold of their finances, whether that be tackling debt or saving more money.
We spoke with a wealth advisor who says putting together a plan can put you on a path to success.
Aaron Howard, a certified financial planner and a wealth advisor at Cloud Financial and Cloud Investments here in Â鶹´«Ã½, says figuring out what motivates you is key in getting on track with your finances in the new year.
He says to create a plan with your goals is a great idea. Howard says creating a New Year's budget is a good starting point.
Howard said, “The easiest way to begin to define your budget is to figure out where your money is going. While that may seem obvious, usually when I talk with folks, there are many times that there’s a pretty big discrepancy in what's coming in and what's going out. So actually defining where each dollar goes is an important process in creating a good budget.â€
If you're wanting to pay off some debt this new year, Howard gave us a few tips to follow. He says debt consolidation loans could be a good option for you to end up paying lower interest over the life of your debt. He also says you can try paying down your debt quickly, or you can choose to knock down your smallest balances and go from there.
