Summary
The article provides expert advice on achieving financial goals like paying off debt and saving for retirement. It emphasizes understanding personal finance priorities and developing habits that promote financial health.
Key Facts
- Financial experts suggest that setting clear priorities is important for managing money effectively.
- Kumiko Love, a financial counselor, stresses understanding what you value most when setting goals.
- 30% of Americans make New Year resolutions, and 61% focus on financial goals, according to Pew Research.
- Experts recommend taking small steps and celebrating minor achievements to maintain motivation.
- Fear of money often stems from not knowing where your money is going, according to Tori Dunlap.
- Michelle Singletary advises finding community support or someone knowledgeable to help with financial planning.
- Tackling high-interest debt, like credit card debt, should be a priority due to its compounding interest.
- Understanding why you are in debt can help establish better financial habits and prevent future debt.
