How to create a savings plan for the new year in just 15 minutes

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If your New Year’s resolution is to save money, you’re not alone. Many people choose budgeting and saving as their top resolution. But before you can make progress on new goals, you need to know where you are.

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This quick and easy financial planning review takes just 15 minutes to work through and will help you get clarity on your finances, so you can start 2021 right with a savings resolution that works for you.

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Do a Five-Minute Review of the Past Year

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Consider whether there’s anything you can do to prepare for the unexpected in the new year, such as starting an emergency savings fund, marketing your services more aggressively or launching a side gig to build up your cash reserves.

Revise Your Budget for 2021

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Start by jotting down all the monthly expenses you can think of along with their estimated costs.

Brainstorm Ways to Save Money in 2021

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The first step toward saving money is cutting non-essentials from your budget. But there are other ways to reduce your spending and boost your savings as well, especially if you’re willing to get creative.

Set Money Resolutions for the New Year

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Spend the remaining three minutes of your check-in setting your financial resolutions for 2021. Consider what you want to achieve this year and personalize these goals so you’ll be motivated to stick with them.

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