Unsurprisingly, one of the top financial resolutions is to save more money

Did you make any resolutions concerning your personal finances last January 2023? If so, how did you get on?

Did you attain your goals or miss the mark? While the days leading up to New Year’s Eve are often spent reflecting on the year gone by, the following days should be spent reflecting on the New Year, reviewing your finances from the past year, and then looking for ways to improve, as we move into 2024.

Here are some of our top tips to support you achieve your financial goals in 2024;

  1. Review and Optimize Savings and Investments:
    • Schedule an appointment with Allied Financial to review your current savings and investment portfolio.
    • Evaluate the performance of your existing accounts and consider switching to more lucrative options if necessary.
    • Explore different types of savings accounts and investment opportunities tailored to your financial goals and current circumstances.
  2. Regular Saving Habits:
    • Commit to saving a portion of your income regularly. Set up automatic transfers to a savings account to ensure consistency.
    • Utilise Allied Financial’s expertise to determine the most suitable savings plan for your needs.
  3. Investment Strategy Assessment:
    • Assess your investment strategy, ensuring it aligns with your financial goals.
    • Discuss your risk tolerance with Allied Financial to make informed decisions about your investment choices.
    • Understand the potential returns and risks associated with different investment options.
  4. Long-Term Perspective:
    • Embrace a long-term perspective when it comes to investments. Allow your investments time to grow and appreciate in value.
    • Consider diversified investment portfolios to spread risk and enhance long-term returns.
  5. Budget Evaluation:
    • Use Allied Financial’s budget calculator to analyse your monthly income and expenses.
    • Identify areas where you can cut back on unnecessary expenses and redirect those funds towards savings or investments.
  6. Emergency Fund Building:
    • Ensure you have a sufficient emergency fund in place. Aim for at least three to six months’ worth of living expenses.
    • Discuss emergency fund options with Allied Financial to maximise returns without compromising liquidity.
  7. Education and Financial Literacy:
    • Commit to enhancing your financial literacy. Chat to the team in Allied Financial to stay informed about market trends and financial strategies.
  8. Debt Management:
    • Evaluate and prioritize your outstanding debts. Develop a plan to pay off high-interest debts.
    • Seek advice from Allied Financial on debt management strategies to optimize your financial situation.
  9. Regular Financial Check-ins:
    • Schedule regular financial check-ins with Allied Financial to stay updated on market trends and reassess your financial goals.
  10. Adjust Goals as Needed:
    • Be flexible with your financial goals. Life circumstances may change, and it’s essential to adjust your financial plan accordingly.

Remember, financial success is a journey that requires regular attention and adjustments. By partnering with Allied Financial and implementing these resolutions, you can work towards a more secure and prosperous financial future.

Call the team at Allied Financial 096 60044 and make that appointment for now or in January 2024.

Email: info@@alliedfinancial.ie