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HCS Week 32

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Established in 1929

Health City Sun

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The

www.healthcitysun.com

August 11, 2023

New Mexico’s Legal & Financial Weekly

Vol. 10.103 No. 32

FORCLOSURE SALES: 0 PROBATE: 32 AUCTIONS: 11 NOTICE OF SUITS: 10 OTHER: 0 SPANISH NOTICES: 0

Spending and Saving Strategies

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T

he past few years have upended many perceptions of financial stability. A layoff or career change, inflation never before seen by younger generations and the lingering uncertainty of the pandemic might have thrown off your financial planning.

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Now is a great time to review your strategies for smart spending and saving so you can weather whatever the future has in store. Financial planning professionals suggest that you start by creating a budget. Online trackers such as Mint. com can help you understand your spending. Also, reviewing your expenses with a CERTIFIED FINANCIAL PLANNER™ professional is a great way to get a handle on spending smart today while saving for tomorrow. Try these tips for saving and spending: Use credit responsibly: Pay off credit cards each month, if possible, to avoid accumulating debt and build good credit. Set up automatic savings: You can do this through your bank and via your employer’s payroll. Use the new year to take a fresh look at the savings the year to avoid a large tax bill in April. Estimated tax payments can be options through your employer, including Health Savings Accounts (HSAs), especially helpful for contract workers or freelancers who don’t have taxes which can be carried over from one year to the next. taken out of their pay automatically. Invest windfalls: Invest any unexpected cash, such as bonuses or tax Shop smarter: Combat inflation by switching to store brands for some refunds, and make your money work harder for you. If you find yourself items. Check whether generic medications will work for you and compare with significant new assets, such as an inheritance, a CFP® professional can prices for different pharmacies. help you make the most of your good fortune. Review your retirement plans: The new year may bring changes such as Visit LetsMakeAPlan.org for more information about financial planning buying a home, updating a will or navigating a higher tax bracket. A CFP® and how to find a CERTIFIED FINANCIAL PLANNER™ professional near professional can provide a new year review to keep your retirement plans you. on track no matter where you are in your working life. Plan your tax payments: Consider paying estimated taxes throughout

-(NewsUSA)


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