How an hour in January can help your finances throughout the year
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Key Points:
- Financial expert Barry Glassman encourages dedicating just one to two hours at the start of the year to create a financial plan, emphasizing that the process is manageable and not time-consuming.
- Key steps include setting up automated payments and savings allocations, reviewing 401(k) contributions to ensure employer matches, and analyzing credit card statements to understand spending habits.
- Glassman advises having open conversations about shared expenses with partners or roommates to align financial priorities for the upcoming year.
- Starting small with savings, even as little as five to ten dollars a week, can significantly build a rainy day fund over time.
- Utilizing AI chatbots and other financial planning tools can assist individuals in identifying effective saving strategies and planning their finances.
