A new year offers a chance for a fresh start on your finances. For some, that means trying to deflate ballooning credit card debt. Others may hope to save more for a home during 2022, or finally establish a long-delayed emergency fund.
Although the new year is already well underway, there is still plenty of time to make changes in your financial life that can pay off for many years to come. Following are six smart financial moves to consider making this year.
Ask For A Raise
For many years, workers had to dance to the tune of employers. Finding a good job was difficult, and competition was fierce for the best roles.
But the tide has turned. Today, employers are desperate to find quality workers. In the wake of the pandemic, many people have either retired early or simply quit working in what has been dubbed the Great Resignation.
That means you likely have workplace leverage now that you did not have in the past. Use it to improve your financial situation during 2022.
“The foundation of personal finance is income,” says Matt J. Goren, a Certified Financial Planner, assistant professor of financial planning and CFP program director at The American College of Financial Services.
Goren urges you to consider using this year to ask for a raise, look for a new job or pick up a side hustle.
“Nothing else — including cutting expenses, investing, or paying off debt, — will change your financial and personal life as much as getting paid more,” he says.
A new year offers a chance for a fresh start on your finances. For some, that means trying to deflate ballooning credit card debt. Others may hope to save more for a home during 2022, or finally establish a long-delayed emergency fund.
Although the new year is already well underway, there is still plenty of time to make changes in your financial life that can pay off for many years to come. Following are six smart financial moves to consider making this year.
Ask For A Raise
For many years, workers had to dance to the tune of employers. Finding a good job was difficult, and competition was fierce for the best roles.
But the tide has turned. Today, employers are desperate to find quality workers. In the wake of the pandemic, many people have either retired early or simply quit working in what has been dubbed the Great Resignation.
That means you likely have workplace leverage now that you did not have in the past. Use it to improve your financial situation during 2022.
“The foundation of personal finance is income,” says Matt J. Goren, a Certified Financial Planner, assistant professor of financial planning and CFP program director at The American College of Financial Services.
Goren urges you to consider using this year to ask for a raise, look for a new job or pick up a side hustle.
“Nothing else — including cutting expenses, investing, or paying off debt, — will change your financial and personal life as much as getting paid more,” he says.