How To Achieve 2022 Financial Goals | News
SCHOFIELD, Wisconsin (WAOW) – What are your financial goals for 2022?
Financial advisers and planners were inundated Monday to prepare clients for their annual financial goals and get a head start on taxes.
Jason Henrich said the and his clients start the year with a thorough assessment of past, present and future financial spending habits. ‘What changed?’ “Has your cash flow changed? âHas your job changed?â Are just a few of the questions asked.
He also wants to focus on the looming life changes of the year, like having a baby or getting married. Regardless of the financial goal, however, it starts with creating a budget – which raises more questions.
âHow much are you spending right now? Gas. Groceriesâ¦ And that’s a fluctuating number because inflation is starting to point its head. Things are starting to cost more than before,â the planner said.
Student loan debt is a hot topic, as students hope for loan cancellations and postponements, as one of President Biden’s campaign pledges. Biden suspending one of President Biden’s promises to repay a loan until May 1.
But should you delay these payments?
“Some people are [not]. Some people have continued to make loan repayments, which allows you to make payments with zero percent interest. And it really reduces your loan debt at a time when it costs you nothing, “said Melissa Vogler, associate director of financial aid at UWSP.” So now is a good time to do it.
While many attribute the record US student loan debt to millennials. Debt totaling $ 1.58 trillion. The AARP reported that people aged 50 and over accounted for 20% of that price.
As tempting as it is, Vogler cautions against defaults on student loans.
“It can affect your credit score … If you don’t pay back your loans, you risk having your wages foreclosed or even having your tax refund withheld,” she advised.
Vogler’s final tip is to stay in touch with your loan officer.