Where did the time go? It’s nearly the new year, which means it’s yet again time to start thinking about resolutions, new beginnings, and self-improvement. There’s no doubt that this year, like so many other years before it, a significant amount of people will be making new year’s resolutions surrounding their financial lives.

A recent study found that over 70% of Americans said their finances were their number one source of stress in life. If you’re counted among this group, it might be time to start thinking about how you can improve your own economic security. Read on to learn five simple ways you can improve your financial security, financial literacy, and your financial life.

1. Make a Monthly Budget

Learning how to budget is one of the best financial habits you can get yourself into. Make a list of all of your expenses each month as well as any income you have. Having it all laid out before you like this will allow you to more easily keep track of your finances and begin to pay off your debts.

2. Live Within Your Means

This tip is tied to the above one. Once you’ve outlined all of your expenses, you should check whether they exceed your income or not.

If they do, you’ll need to make adjustments to make sure you’re not living outside of your means. You shouldn’t be accruing debt to fund a lifestyle you can’t afford. Cut back on unnecessary expenses so you can clear debt rather than accumulate it.

3. Set Financial Goals

If you don’t have any concrete financial goals, it can be easy to spend your money with abandon—but this isn’t a smart idea. Make both short-term and long-term financial goals. Once you know you’re working toward something, you’re more likely to be able to apply more discipline to your spending and saving.

4. Become Financially Literate

This one is pretty basic, but it’s vitally important for any adults handling their own finances. Being financially literate can mean different things to different people. 

It could mean learning how to do taxes with the help of tax advisory services such as WealthAbility tax advisors or learning tactics to invest in the stock market. Gain financial literacy in a way that makes sense for you and your financial situation.

5. Start Saving for Your Retirement Today

No matter what age you are, you’re never too young to start saving for your retirement. Whatever stage you’re currently at in your life, you should have some sort of plan for retirement in place. Saving even a small fraction of your income each month can be a great help down the line.

Improve Your Economic Security in 2022

Achieving economic security is something that’s important, and something you can and should do. Make 2022 the year you finally take charge of your finances once and for all, and begin building a brighter financial future. If you’re looking for any more money-saving advice, check out the rest of our content now.