HONOLULU (KHON2) – According to Better Business Bureau, this new year has many people reassessing their financial goals – whether that means reducing debt, building savings, or simply finding more stability in their day-to-day finances.
Cameron Nakashima from the BBB shares these tips:
· Review Your Finances: Assess your income, expenses, and savings to understand where you stand.
· Set Achievable Goals: Focus on building an emergency fund, paying down debt, or investing for the future.
· Create a reasonable budget: Create a realistic plan for how you’ll allocate your money each month and track your spending. Consistency is key. Some experts recommend setting up automatic payments to help make consistency feel more manageable.
Nakashima said identity theft and financial scams are prevalent following the New Year and through the tax season. So it’s important to have habits in place to protect the money you are working to budget:
· Avoid sharing sensitive information over unsecured channels.
· Regularly monitor your bank accounts and credit reports for unusual activity.
· Use BBB.org’s Scam Tracker to stay informed about common financial scams in your area.