The 3 Top Money Tips for 2014

As we come to the end of the first month of the New Year, this seems to be a good time to assess how you might be doing with your New Year’s resolutions. after all, many of us are guilty of saying we’ll make changes and this can usually be the time that the new treadmill starts becoming a coat rack or those new running shoes are being better served waling through a department store.

But did you set some resolutions to get your financial house in order, or to perhaps do some long-term financial planning that you had been putting off? Have you set a plan in motion yet? Is you life such a mess financially that you really want to do somethng but you don’t know where to start?

CNBC has you covered. Recently, CNBC’s Sharon Epperson hosted a brief segment with three top financial advisors – those who are financial planners, not those who are involved in the investment side  - to get their three top money tips for getting better financial health in the New Year. She looked to three members of CNBC’s own Financial Advisors Council – Stacy Francis of Francis Financial, Diahann Lassus of Lassus Wherley and Associates, and Mark Cortazzo of Macro Consulting Group – to provide some quick tips on getting a handle on that pesky financial resolution.

The first peiece of advice was offered by Francis, who said that the key is to be on “autopilot” when it comes to saving for the long term. She recommends making sure that a set amount of your income is set aside every month and taken out of your paycheck and deposited straight into a long-term savings vehicle. She said if that is done, then a person will eventually learn to live without the money because she or she does not see it in everyday budgeting because it was taken out behind the scenes.

Lassus’ suggestion and advice was more broad, and that was to write down the financial goal and keep it somewhere prominent so you can continually look at it and remind yourself of your goal. The idea is that every time you see it, it should keep it in mind and otivte you to take some step that day to get closer to that desired goal – whether it is saving for retirement, paying off debt or getting that mortgage paid.

Cortazzo took a different approach, advising those who are parents and grandparents to consider something different than the latest electronic gadget for a child as a birthday or Christmas gift – why not gift to them a Roth IRA, especially if they are at the age where they are earning their own money?

 

 

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 9 Most Dangerous Countries for Tourists to Visit

Reign of Terror: The 10 Most Ruthless Politicians in History

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!