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KNOXVILLE, Tenn. (WATE) — Research shows Tennesseans’ top New Year’s resolution is to save money and get better at their budget.
John Vandergriff of Blue Ridge Wealth Planners said you can start achieving that goal now by making small changes that can have a big impact on your wallet.
There are several steps you can take to get your finances on the right track.
“One of the first things we tell people is to make sure they are aware of that liability and try to minimize it as much as possible,” Vandergriff explained.
Knoxville resident Brittany Glenn said becoming financially stable is something she’s been working on for quite some time. A few years ago, she became homeless and unable to support herself, but she is now taking steps to learn more about her financial situation.
“I’m actually considering signing up for the Knoxville Leadership Board to help me secure housing, keep things moving, and get on track with budgeting,” she said. “I am also a member of the HUGS program and an alumnus of Hands Up for Women in Knoxville. This program has been a huge step in seeing how much I have grown over the years with financial security. My credit score, advancing my career, and understanding who I am as a person and where I want to go in life.”
Glenn has created a list of priorities when it comes to spending and saving. This allowed her to remove unnecessary items and save money wherever possible, she said.
This is important to Vandergriff.
“Try to come up with things you don’t think you know,” he said. “What is my true income? Where does it actually go? You might want to build an emergency fund, but you don’t know what it is and how to plan your path to get there.” Please try to define what that is.”
Vandergriff also encourages people to consider other ways to invest, such as contributing to a 401(k).
“It’s very easy to start being conscious about the money that’s going out. And once you know that, it’s very easy to consider how to store that money.”
If you don’t know where to start, talk to a qualified financial professional who can get you on the right track, Vandergriff says.
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