4 financial resolutions that you can set (and actually keep) in 2021

The video tutorial provides guidance on improving financial stability through practical resolutions. It covers creating a budget, paying down debt, building an emergency fund, and saving for retirement. The tutorial emphasizes the importance of setting realistic financial goals and sticking to them to enhance financial resilience.

What is the first step in setting realistic financial goals?

• Investing in stocks

• Taking a vacation

• Buying a new car

• Creating a budget

Why is it important to pay down debt?

• To decrease the amount paid in interest

• To avoid paying taxes

• To increase your credit card limit

• To qualify for more loans

What should you do if you have too many accounts to manage?

• Ignore the accounts

• Consolidate your debt

• Open more accounts

• Close all accounts

What is the purpose of an emergency fund?

• To pay for vacations

• To buy luxury items

• To cover unexpected costs

• To invest in the stock market

How much of your pretax income is recommended to save for retirement each year?

• 10%

• 5%

• 20%

• 15%