This year, 40% of Americans said they do not make financial resolutions for the new year and 68% said they do not have written financial plans at any point in the year, according to research from BMO Financial Group.
However, setting a budget goes a long way in managing your personal finances.
“Many people spend time doing a New Year’s resolution,” said Kamila Elliott, a certified financial planner at Collective Wealth Partners. She explained that people often focus on achieving their personal goals “but an annual budget allows you to focus on your financial goals and understanding what you want to accomplish financially in the year.”
The first step is to figure out your income.
R&I – TP
RandyMarsh
Article URL : https://www.cnbc.com/2023/12/30/the-first-step-to-setting-an-annual-budget-is-simple.html