KNOXVILLE, Tenn. (WATE) — Surveys show that the number one New Year’s resolution for Tennesseans is to save money and budget better.
John Vandergriff with Blue Ridge Wealth Planners said you can start achieving that goal now by making small changes that can create a big impact on your wallet.
There are several steps you can take to get your finances in the right direction.
“One of the first things we tell people is to make sure you are aware of that debt and try to minimize that as much as you can,” Vandergriff explained.
Knoxville resident Brittany Glenn said being financially stable is something she’s been working on for quite some time. A few years ago, she was homeless and was not able to support herself, but now she’s taking steps to learn more about her finances.
“I’m actually looking at signing up for the Knoxville Leadership Board to get housing and get stuff underway and go through their budgeting course,” she said. “I’m also a member of the HUGS program and a graduate of the Hands Up for Women of Knoxville and they’ve been a huge step in my progress these past few years of how much I’ve grown with financial stability, learning about credit scores, getting my career going, and figuring out who I am as a person and where I want to go in life.”
Glenn has made a list of her priorities when it comes to spending and saving. She said this has helped her cut out items that aren’t needed and save money where she can.
This is something Vandergriff says is important.
“Try to come up with the things that you don’t feel like you know,” he said. “Whether it is what is my true income coming in, where is that in fact going, maybe I would like to build an emergency fund, but try to define what that is and how you’re going to map out a path to get there.”
Vandergriff also encourages people to look at ways to invest such as contributing to your 401(k).
“Having that financial awareness of what is going out the door is a really easy place to start and then once you figure that out, looking at ways to put that money away.”
If you don’t know where to start, Vandergriff says talk to a licensed financial professional who can get you on the right track.
