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3 Top Financial Resolutions I'm Making for 2025

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
I set financial goals for myself each year. That helps keep me on track with my long-term financial plan. It also allows me to adjust my strategy as things change. My long-term goal is to become financially independent by eventually generating enough passive income to cover my routine living expenses.
The article from MSN Money outlines three key financial resolutions for 2025 aimed at enhancing personal finance management. The first resolution is to increase emergency savings, emphasizing the importance of having a financial safety net to cover unexpected expenses like medical emergencies or job loss, with a goal of saving enough to cover three to six months of living expenses. The second resolution focuses on paying down high-interest debt, particularly credit card debt, by prioritizing payments towards the highest interest rates to reduce overall interest paid over time. Lastly, the third resolution is to invest more in retirement accounts, highlighting the benefits of compound interest and the need to take advantage of tax-advantaged retirement accounts like 401(k)s or IRAs to secure financial stability in later years. The article underscores the importance of setting clear, achievable financial goals to improve one's financial health in the coming year.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/3-top-financial-resolutions-i-m-making-for-2025/ar-AA1wKBSE ]