The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.
Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.
Financial Tips from the Atlanta Fed: Getting Financially Organized
January is Get Organized Month, which makes sense because the new year is often the time when we set goals related to balance and organization in our lives. Start 2019 by focusing on how you can organize your finances to be better positioned to respond to financial challenges and set up for financial success.
- Make a plan and set financial goals. When setting goals, people often don't follow through with them because they are unrealistic. Be sure to set realistic goals to help you start achieving financial success.
- Whether your goal is paying for college, buying a house, or planning for retirement, consider how saving and investing play a role in achieving these goals.
- Establish an emergency fund, which is generally three to six months of living expenses. An emergency fund is money set aside that can be accessed quickly for unexpected expenses.
- Learn how changes to the income tax code may affect your tax return.
Make this the year you accomplish your financial goals by implementing these financial tips.