WEST PALM BEACH, Fla. — The new year is a good time to make financial resolutions if you are looking to alter your spending habits and save money.
WPTV spoke with Chip Lupo of WalletHub to get some advice on how you can get your finances in order this year.
"Finance is creeping right up there with health-related New Year's resolutions," Lupo said.
Saving money is always a top resolution, but Lupo said it's very important to focus on paying down debt.
Consumer
Spending out of control? How you can get a handle on it in 2025
"We would recommend clearing out as much debt as you can starting with big interest debt that typically involves credit cards, but you want to start small so you don't get overwhelmed with it," Lupo said.
WalletHub recommends setting a goal of paying off 25% of your debt.
Other recommendations from Wallet Hub for 2025 include the following:
- Make a realistic budget and stick to it
- Save more
- Explore refinancing high-interest-rate debt
So, what can you do to fight inflation and get the best price?
Lupo said that can involve careful shopping, looking for bargains on common items and using digital coupons.
