5 advisors offer important tips for managing your money in 2025

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5 advisors offer important tips for managing your money in 2025
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Financial stability is top of mind as households get set to ring in the new year.

About 38% of Americans ranked financial stability as their No. 1 focus area for 2025, according to a recent Allianz Life survey.Kamila Elliott, Co-founder and CEO of Collective Wealth PartnersCreate and stick to your budget! Max out on retirement contributions and create one personal financial goal such as paying off credit cards or investing an additional $100 a month in an investment account.It starts and ends with knowing where the money is going.

You can then focus on beneficiary designations. Next, a will and trust, if the trust is appropriate for your situation. This process also helps individuals track down retirement plans from former employers. Estate planning is a wonderful opportunity to revisit life insurance as well.1. It's not a popular subject but take the time review all your insurance coverages:

If you spent more than you should have over the holidays, now is a good time to make a plan to get rid of that financial hangover as well as making a plan to avoid it next year. Take a look at your personal interest rate environment. We have gotten a few rate cuts from the Federal Reserve so far. There may be more but either way take stock of your situation.

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