1) Set up emergency savings
Get ready for the next financial crisis.
To prepare for the next financial crisis, establish good financial habits, build an emergency fund, pay down debt, rework your investing strategy and boost your professional credentials.
2) Contribute to your HSA
“If you’re eligible to contribute to a health savings account, do it! People neglect to fund those accounts, but they’re extremely powerful with the potential for triple tax benefits. And don’t necessarily spend the money — you can leave it in your HSA for years because there’s no ‘use it or lose it’ feature
3) Save for your golden years
For long-term financial security, it’s important to think about the eventual time when full-time work is behind you, whether you choose to call that phase of life retirement or not.
4) Become the CFO of your financial household
Approach household money management as if you were the chief financial officer of a major corporation. As household CFO, you should manage cash flow, build long-term plans, know when to delegate, schedule regular money meetings, award bonuses and come up with a plan for succession.
5) Protect your financial information
With high-profile security breaches happening regularly these days, savvy consumers should take steps to protect their financial information. Those steps include using complex passwords, keeping devices up-to-date and never sharing personal data with others .
6) Avoid lifestyle inflation
If the year's end came with a bonus or promotion, congratulations. But don't let your newly increased paycheck result in a more expensive lifestyle. When you receive a raise, increase automatic contributions to retirement accounts, savings and 529 accounts, so you don't end up spending your newfound cash on luxuries and meals out .
7) Talk to Your Financial Advisor Today
A good financial advisor will understand your financial goals and help you in achieving them. He/she will identify best plans for your needs and make your money grow. Financial advisors and planners have deep knowledge about complex products and can read the nitty-gritty of various instruments. They also have good contacts with intermediaries who can tailor-make schemes for you.