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A Year in Finance: Your 2024 Financial Resolution List

Updated: Jan 3

People planning their 2024 financial resolutions.

As the calendar flips to 2024, it's the perfect time to set new goals, especially when it comes to your finances. Why not make financial resolutions that align with each month of the year? This way, you can tackle different aspects of your financial life in manageable chunks. Here's a month-by-month guide to making 2024 your most financially prepared year yet!

January: Insurance Optimization Month

New Year, New Coverage! Start the year by evaluating your insurance policies. Do you have enough coverage? Are there gaps in your insurance that need addressing? Whether it's health, life, auto, or home insurance, make sure you're adequately protected.


February: Cashflow Awareness Month

Love Your Budget! February is all about understanding your cash flow. Track where your money comes from and where it goes. This is a great time to adjust your budget, cut unnecessary expenses, and boost your savings.


March: Tax Planning Month

Beat the Tax Rush! With the tax filing deadline approaching, March is ideal for tax planning. Gather your documents, look for possible deductions, and consider consulting a tax professional if things seem complicated.


April: Debt Management Month

Spring Clean Your Debt! April showers bring May flowers, and this month, focus on understanding and controlling your debt. Whether it's credit card debt, student loans, or a mortgage, develop a plan to manage and reduce your debt effectively.


May: Wills, Trusts, and Estate Planning Month

Plan for the Future! It's never too early to think about estate planning. This includes setting up or reviewing your will, trusts, and other estate planning documents. Ensure your assets are protected and will be distributed according to your wishes.


June: Savings & Portfolio Management Month

Mid-Year Financial Check-In! Review your savings goals and investment portfolio. Are you on track to meet your financial goals? Adjust your investments as needed to align with your risk tolerance and financial objectives.


July: Retirement Planning Month

Freedom to Dream! Use this month to focus on your retirement plans. Are you saving enough for retirement? Consider increasing your retirement contributions or starting a retirement account if you haven't already.


August: Real Estate Evaluation Month

Your Home, Your Investment! Evaluate your real estate investments. Is it time to refinance your mortgage, or perhaps consider buying or selling property? Real estate can be a significant part of your financial portfolio.


September: Education Awareness Month

Back to School, Back to Planning! If you have children, this is a great time to review or start saving for their education. Explore options like 529 plans or education savings accounts.


October: Goal Setting Month

Set Sights on Success! Reflect on the year and set financial goals for the next. Whether it's saving for a big purchase, reducing debt, or investing more, clear goals will guide your financial decisions.


November: Credit Card Evaluation Month

Credit Check-Up! Review your credit card usage. Are you maximizing the benefits of your cards? Maybe it's time to switch to a card with better rewards or lower interest rates.


December: Investment Tax-Prep Month

End the Year Wisely! Prepare for tax season by reviewing your investments. Consider strategies like tax-loss harvesting to help adress your tax liability.


Remember, financial planning is not a one-size-fits-all approach. Your circumstances and goals are unique, and your financial plan should reflect that. If you need help putting your list together or tailoring these resolutions to your specific situation, don't hesitate to reach out. Let's make 2024 a year of financial growth and security!


Picture of Samer Hilal, Wealth Advisor.

Samer Hilal, a Financial Advisor with Stratos Wealth Partners, began his investment journey in 1995. He's dedicated to creating actionable financial plans for clients. Now at Stratos, Samer continues to guide clients on their financial paths.

The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.


Stratos Wealth Partners and LPL Financial do not offer tax or legal advice or services.


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