Smart Money Moves for January

With a new year, many people hope to get a fresh start with changes in their financial planning activities. To do so, the following actions are suggested:

• Maintain or increase the amount of money in your emergency fund.
• Pay off high-interest credit cards and other expensive loan accounts.
• Set goals that will contribute to long-term financial security.
• Review your cash flow (spending and income) from the previous year in an effort to increase saving by avoiding unnecessary payments.
• Merge various banking, investment, and retirement accounts into one low-cost account.
• Determine if changes are needed in your estate plan.
• Increase your retirement account contributions.
• Revise your tax withholding, as needed

For additional information on January money moves, click here.

Teaching Suggestions

• Have students talk to various people about which actions they believe to be most valuable for long-term financial security.
• Have students create a brief presentation describing the value of one of these suggested money actions.

Discussion Questions 

1. Describe the January money actions that you consider to be most valuable for long-term financial security.

2. What are some other money moves that you would recommend?