Western Massachusetts Residents Set Financial Goals for the New Year
CHICOPEE, Mass. (WWLP) – As the New Years celebrations come to an end, many are focusing on new resolutions.
Finances are a priority as 2021 approaches. Some local residents said they plan to save for a house, some want to invest, and others want to pay off more debt.
Mark Teed of Raymond James Financial told 22News that 2021 is expected to see a strong economic return: “Look at all the things you spend money on that are unnecessary and say this is the money I’m going to use to fund. my ROTH IRA, IRA, or my 401K and that’s how you do it.
According to a study by Fidelity Investments, 65% of Americans plan to make a financial change for the New Year.
Victor Decaro said he plans to invest more among his other financial goals.
“Yes, this year I’m trying to save some money to pay off my student loan debt and also to be able to buy a house,” Decaro said.
Brian Beckford is a student and has said he will focus on paying his bills.
“Other than the simple things like rent, car bills, credit cards, stuff like that,” Beckford told 22News.
The study also indicated that the main financial goals for people in 2021 are to save more, pay off debts and spend less.
Financial advisers recommend creating a budget to better control spending.