If you dare look over your finances from 2021, what could you have done better? Now that you know, how will you fix it?
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I have a couple!
- Held on to some credit card debt month-to-month. I should've budgeted better. But they are almost all paid off!
- I have another loan that I'm not paying off as fast as I'd like. Again, should've just budgeted a couple hundred a month to pay it off. Goal is to be rid of it by the end of 2022.
Overall, I need to eat out/order delivery a lot less in 2022 and stick to a monthly budget, including putting a set amount each month towards retirement and an emergency fund.
I'd also like to have some extra money for some upcoming home renovations and a vacation fund. Not sure I can swing all of it in 2022, but here's to trying!
I shouldn't have sold some assets. For example, SHIB I sold when it tripled, but if I had held I'd be a little better off currently. BTC I shouldn't have sold when it started dipping from $60K.
And I should have sold some other assets. For example, a lot of options I was optimistic about when they went up a few hundred percent. But I should have just taken profits instead. Reason's because as time decays the option and the option's close to expiry, what was once a very lucrative return is now like -90%.
Going forward: I'll take profits on assets that are a ticking timebomb, and HODL on things that will never expire / if the risk isn't too high.
I've had the "eating out" discussion with my wife on several occassions. We are empy nesters and have been for about 4 years now. It is so easy to just go out and grab a bite. Not to mention we are both social people who like good conversation over a meal. But the money we've spent on dining could easily go to a very nice vacation or buying a new car. Those kind of goals would keep us both in check when we want splurge. Thanks for the reminder Will.
Angie I don't firmly understand the language of buying and trading stocks, but I need to learn. I hope your investment decisions are better for you in 22!'
I started a new financial counseling and coaching business in 2021 helping others reach their goals. Looking forward, building that new business is key.
I should have asked for a raise at work when I received new certifications and planning on new responsibility. But I will before they year is over.
Should have done a better job saving for kids- back to school expenses and summer camp expenses. Will be putting that into my budget in 2022.
just not using credit cards as much and trying to save each pay check, cut back on gifts for the holidays
irishnanny, I have the same goals! I'm going to up my savings this coming payday and so far, i've been successful at not using cc's for a while now. Thanks for sharing!
I could have saved more on the grocery bill. I'm working each week on this. It is challenging with inflation out of control and shortages.
I'm pretty happy with the amount of money I saved/invested this year.
But my 2022 financial resolution is clear: NO MORE FOOD DELIVERY APPS!
I started using an app called TrueBill to track my spending/saving habits. I was absolutely horrified to learn that over the last two years, I spent $2,247 on Uber Eats.
Dining out is bad enough. But food delivery apps are an absolute money suck. You pay a higher price and don't even get the nice experience of eating out with friends/family or being waited on at a restaurant.
It's not only bad for your wallet — it ain't great for your waistline either.
I'm going to try my hardest in 2022 to stop this nasty habit. I was so embarrassed to learn how much money I've wasted, especially since I write about personal finance for The Penny Hoarder!
Still, the first step is admitting there's a problem, right? I'm really happy to see so many people on this thread setting goals, with their eyes wide open about what they can improve next year. Good luck to everyone!