Every year brings something new- perhaps a life changing event, a world-wide pandemic, or the Buffalo Bills winning the Super Bowl!  But there is something that is very close to you that may not get enough attention and remains a constant - and that is “the state of your financial well-being.”  How can you look at 2023 and say- “this is the year I make it my own”.  This new year gives you 12 months to start a financial refresh and gives you the power to use your money as a tool to put the changes you want to see into motion.

Here’s how to take on a new financial year, for you:

1. Set meaningful goals

What drives you to achieve your goals must be even more powerful than setting them.  Be clear on your “why”.  Write them down and surround yourself with positive reinforcements. Label your savings account by goal, whether it be “New House,” “Vacation,” “New Car.” Identifying your goal and sticking to it will help you think twice before moving money out of your savings and help keep you on track to achieving your goals! Think of it as a digital motivational post-it notes!

2. Prepare for tax time:

Consider your organizational skill set when it comes to taxes.  While it may not be the most attractive process to go through, working with a CPA and a Financial Advisor can give you peace of mind and allow for potential tax savings strategies for yourself and your business. Keep track of receipts, earnings, and expenses.  Tax savings strategies will lay the foundation for your 2023 peace of mind, so you can focus on the year to come. 

3.  Review your bills

What is that random notification that keeps saying “You spent $29.99 at Apple” again?  Review what’s going out of your account.  Question what you don’t know and see what’s necessary.  These essential bills (electricity, rent, mortgage, and grocery bills) can potentially be funded by doing an-in-depth review of your monthly expenses, creating a budget, and cutting non-essential spending.

4. Know your spending and saving habits

Creating a savings plan, and yes, - getting an app and tracking your monthly spending habits could help you to be surprised at just how much money goes out without you even thinking about it. Dinners, entertainment, shopping, - when you must think about it- you may reconsider the frequency of these purchases.  The advantage of knowing your spending choices means you could be happier controlling your hard-earned money and directing it towards your larger short-term and long-term savings goals!

5. Check that retirement plan!

What is your retirement fund?  Do you have a retirement fund?  No matter where you are on the financial time horizon, understanding your current situation will dovetail with how to control it.  It can be a benefit to talk with a financial advisor in how to get the most out of your money.

Finally consider, how do you want your finances to look at the start of 2024?  Picture yourself a year from now and use the next 12 months to make it happen, one day at a time. It’s time to embrace a new financial year and its possibilities, with the mantra of new financial year, new you. Plan the work to work the plan.  Without it, the financial elephant in your heart goes unnoticed, and nothing will change. You can make a change, today, I’ll be there to help you.

a woman in a black jacket

Jennifer M. Snyder

Financial Advisor

E-Mail: jsnyder@brightonsecurities.com

Direct: 585.340.2207


New financial year, new you, embrace a new financial year, Money Bites