It’s a new year, a time to start fresh and dream big. When it comes to setting goals for the coming months, saving money is always a popular one. Here are five Financial New Year’s resolutions to help your family save money and protect what you have so you feel more secure in 2023.

  1. Set your financial goals for the new year.
    • Do you want to pay off debt or set up an emergency fund or college savings plan for your kids? Maybe you want to put more away for retirement. Whatever your dream is, talk with your financial advisor about how you can take the first step to achieve your goals. 
  1. Create a budget that supports your goals.
    • Getting an overall view of your household income and family’s expenses will help you plan a strategy for achieving your goals. Try creating a simple spreadsheet or using an online budgeting tool to get started. Check your budget often to be sure you’re staying on track.
  1. Look for ways to save money on insurance.
    • Your insurance agent can look to see what discounts you may be eligible for (did you purchase a home security system or put on a new roof recently? Talk to your agent to see if you qualify for a discount). Your rep can also talk with you about other money-saving strategies, such as bundling or changing your deductible. If you have a teen driver in the household, you may qualify for a good student discount of up to 25% if they maintain a certain grade point average. 
  1. Talk to your insurance agent about coverage for your new expensive items.
    • Did someone in your household get a new smartphone, laptop, or other high-cost items for Christmas? Talk with your insurance rep about insurance protection for them.
  1. Prepare for the unexpected.
    • Use your smartphone to take a video record of all of your belongings in case you ever experience a fire or other disaster situation. It only takes a few minutes, and it’s much easier than trying to remember each item in every room, drawer, closet, etc., after a loss. 

Taking simple steps to protect your family’s property and set goals can get you on the right foot in the new year.