It's been a challenging year, but there's still time to strengthen your financial situation heading into 2021.
Also, if you're in the position to do so, consider ways to take advantage of low interest rates, like paying off student loans. No one can predict the future, but if you're still worried about yours, you can take steps today to strengthen your financial picture, setting you up to thrive in 2021 and beyond. 1. Revisit your household budget
By taking a fresh look at necessary versus discretionary expenses you can free up extra income. Think about expenses related to travel, daycare or babysitting, or eating breakfast or lunch out every day. You're unlikely to get to your preferred financial destination without a plan you can stick to. Be realistic. I am currently working with clients about goals over three time periods: year-end, next year, and longer — say, five years.