SHENIX®, an innovative Latina educational fintech app, wants you to meet your financial goals this year. Here are four of our favorite tips to help you start off the year with a strong financial foundation!

1.     Create A Budget

Without a budget, it’s easy to unintentionally start digging into your savings or accumulating debt on your credit card. Creating and following a budget is typical financial advice and for good reason. It works! Don’t write off this simple habit because it seems too daunting. SHENIX® can help! In fact, when you register with SHENIX®, you get a free personalized budget. This is the most basic, yet transformative financial step you can take today. You’ll feel a huge weight lifted once you set a realistic budget for yourself, and it will get you off on the right food for your other 2023 financial goals.

2.     Pay Off Debt

Debt can feel daunting. Sometimes so daunting that you find yourself paralyzed, not sure how to tackle the growing numbers. You can and should set a resolution to pay off as much debt as possible this year. Interest rates are rising, and the cost of living is getting more expensive. How great will it feel to have those pesky monthly payments gone? Then you can use that money to invest and save every month.

A great strategy for tackling debt is to start with the smallest amount first. Paying it off quickly will give you a boost of motivation to attack the next debt. You can also prioritize the debt with the highest interest rate to prevent more debt accrual. The key here is to work debt repayment into your monthly budget, and stick to it!

3.     Launch An Emergency Fund

SHENIX® can help you work an emergency fund into your budget. Allotting a certain amount of money for an emergency fund every month will help you breathe easy when the inevitable emergency situation arises (I’m looking at you, old furnace.) Setting up an automatic transfer from each paycheck is a fantastic way to automate this process. This also prevents you from seeing the money and making exceptions to spend it on something else.

4.     Save More Money

This is everyone’s big goal, right? Saving more money allows you the peace of mind to ride out an emergency, prepare for retirement, and plan for your next great vacation. You’ll never regret prioritizing saving in your budget, but one of the worst feelings is looking back on all the money you could  have saved last year but spent instead.

Save yourself this regret and ask SHENIX® for help! We know how daunting budgeting and saving can be, and we have the tools and expertise to help you reach your financial goals without stress. By registering with SHENIX® today, you’ll get a free personalized budget. This is the first step to take charge of your finances in 2023!