This is the time of year when publications put out lists of what they predict for the following year. Some of these predictions are not cheerful (higher inflation?). Other lists are published in a ‘Hot or Not’ format, listing things from the previous year that will not be popular in the year to come.
However there are certain things that never go out of style:
Whether you have survived the difficulties of the past few years doing relatively well, or find yourself still reeling from a setback, you may still be trying to live a bit more. People all over the world have been through a lot and are looking for ways to relieve stress. But hopefully you won’t completely throw caution to the wind. It is still important to save money–both for the immediate future and for long-term goals.
Spending more time in the house, be it because of weather, illness, or anything else, can tempt us to spend. Some people have found it much easier to spend money online while they are working from home. People are saying that they get multiple packages delivered each day–but is everything they are ordering necessary? Other people, may be out more but feeling ill at ease because of the continued pandemic. Either way, it is important to not just live in the moment but to consider the wisdom of your purchases.
Planning for the Future
A Fee-Only financial planner can help you plan for the future. It helps to have financial goals and a complete picture of your financial outlook. Once you have a plan in place, you will have better guidelines for working to secure your financial future. You may still be tempted to overspend sometimes but you will have an overarching plan in place to help you stay on track.