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Money tips for the new year: Here are 21 ways to reduce debt, build an emergency fund in 2021 Adam Shell, Special to USA TODAY How you can save $1 million for retirement Replay Video UP NEXT Start the countdown: A new year is fast approaching. So now is the time to hatch a plan to get your personal finances back on track. Think of 2021 as a fresh start to solve your money worries. Here are 21 tips – or must-do money resolutions for the New Year– to help you trim your debt and build up that crucial emergency savings fund in 2021. Since most people need a substantial amount of money set aside to help ride out an unexpected financial setback, we ll kick off this list of advice with some money-saving tips recommended by financial planners and advisors: ....
Review every expense that you have and ask yourself, Can I eliminate or reduce some of my expenses, says Philip Palumbo, founder and CEO of Palumbo Wealth Management. His pet spending peeve: dining out or ordering in. It can add up quickly, he says. • Pay yourself first. When payday comes, dollars tend to disappear quickly. So put your savings on autopilot. Set up automatic deposits that move money directly from your paycheck to your savings account, says Diahann Lassus, president of Lassus Wherley, part of Peapack Private Wealth Management. Pay yourself first, before those dollars have a chance to disappear, Lassus says. ....