January often brings a wave of commitment to better money management, with many of us eager to make positive changes and set new money-related goals. With financial resolutions on many of our minds, we thought we’d take the time to explore some positive and negative aspects of common financial habits. Stay tuned as we discuss whether the “good” habits you’re considering are truly working in your favor.

Whether you're on a mission to pay off debt, build an emergency fund, or keep a strict budget this year, we’ll share our thoughts on finding a healthy balance when setting financial goals. Tune in for valuable advice and practical tips to ensure your financial resolutions align with your long-term success.

Here’s some of what we discuss in this episode:

• Ignoring your account statements can help avoid overreacting to short-term market fluctuations, but it also poses risks
• Keeping a strict budget is a wonderful way to stay on track for your goals, but it’s important to find a flow that works best for you
• While paying off debt early is a commendable financial goal, it’s important to talk with your advisor about your situation to ensure you aren’t missing out on opportunities for higher returns or tax advantages
• Building an emergency fund is important, but over funding it can lead to excess liquidity with lower returns compared to other investments
• In some cases, delaying financial decisions can lead to better outcomes if it means avoiding impulsive choices, but when patience turns into procrastination, it can harm your financial life

Contact:

If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/