Op: Ed "6 Money Moves to Make in 2021"

The COVID - 19 pandemic impacted the financial lives of everyone in our community. But now we can (finally) say goodbye to 2020 and enter the new year with not just goals, but actions!


For those of you who don’t know where to begin - here are six money moves to make towards a strong financial future:


1. GET A FINANCIAL CHECK UP

Set some time (social distance/online) with a financial educator, a trusted friend, or yourself and analyze your “financial well - being.” Go over where you are, where you want to be, and the steps to take on how to get there.


This will help you create a roadmap on your journey to financial success!


2. PAY YOURSELF FIRST

Think of yourself as a monthly bill that you must pay before anything else (rent, subscriptions, etc.).


This can be 5% of your paycheck or $20 - no matter the amount, pay the one who puts in the time and effort every day - YOU!


3. BUILD A STRONG FINANCIAL FOUNDATION

There are many different levels when it comes to building a strong financial foundation - proper protection, debt management, emergency fund, and investment.


Sit down with a financial educator and see how strong your financial foundation is. Having a strong financial foundation will give you the peace of mind that you are prepared for anything - financially.


4. ESTABLISH A BUDGET & STICK TO IT

The beauty of having a budget is that you are able to track how much money is coming in, how much is going out and where it is going.


Once you establish your budget, stick to it! This money habit will bring you more confidence and pride that you are your own money manager!


5. HAVE DIFFERENT SOURCES OF INCOME

This past year - we have seen how one source of income can’t sustain us financially. That’s why - seek out another source of income. Maybe turn your hobbies into profit or seek out other opportunities that you didn’t know you’d be good at.


6. SEEK OUT FINANCIAL EDUCATION

When it comes to personal finances. There are many concepts and products out there that can be confusing. That’s why, this year, give yourself a present of financial education.


There are many resources and individuals out there that can help you become financially literate and help you reach your financial goals.


So on behalf of a fellow money manager, let’s dominate this year by making smart money moves moving forward! Feel free to contact me if you need an extra hand with your financial journey.


Derica Malaca

Financial Educator

World System Builder

(e) dmalaca.wsb@gmail.com

(Instagram) @dericamalaca


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