Advice for setting financial goals in the New Year

Fifth Third Bank

GRAND RAPIDS, Mich (WOOD) – If one of your New Year’s resolutions is to be more financially smart, Fifth Third Bank is here to help! Setting financial goals for yourself this year is a very smart thing to do, whether you want to save up for a new house, new car, or just start budgeting better. Fifth Third Bank provides advice on what you can do to reach that goal.

The first step is to write down your financial goal for the year. Seeing it in writing will help you stride to achieve this goal. From there, Fifth Third gave some easy ways how you and your family can achieve that financial goal with the 50/30/20 rule.

  • 50% of your income goes toward essentials – food, housing, car
  • 30% of your income goes toward your non-essentials – new clothes, eating out
  • 20% of your income goes toward your savings

Following these guideline will surely help you have a financially successful year! For more information, head to 53.com.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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