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What a year 2024 has been forpersonal finance.
So, what should you do in 2025 to get a fresh start?
Heres a five-step guide tohelp you have a financially successful year.
Ensure You Have Emergency Cash Set Aside
How much were you able to put away in your emergency fund?
Hughes recommended maintaining at least six months worth of living expenses in a high-yield savings account (HYSA).
This means really digging into your investment portfolio and giving it all a good hard look.
2024 has been a phenomenal year for stocks and cryptocurrencies, Hughes said.
We are expecting volatility in 2025.
You want to confirm your portfolio matches your personal risk tolerance.
Check Your Insurance Coverage
Every year brings changes some years bring bigger ones than others.
What was 2024 like for you?
Take inventory as you gear up for 2025.
You want to verify you are protected without overpaying for coverage.
Take some time to reflect on what you want to accomplish in 2025 and beyond.
Seize the moment while the momentum for positive change is in the air.
Then, assign adollar amount and timelinefor each goal.
The next and final step is to activate these financial goals.
The trick here is to automate this process instead of manually transferring these funds.
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