Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Shmuel has over two decades of industry experience, including licenses and certifications as a certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. Shmuel provides a uniquely holistic approach to comprehensive real estate and financial matters that goes well beyond any single transaction. Shmuel is an award-winning financier recognized for maximizing the short-term and long-term objectives of his client. As a contributing writer to many local and regional newspapers and publications, his insights have been featured in the media for many topics, including mortgages, personal finance, appraisals, and real estate trends.
The beginning of a new year always brings about feelings of starting fresh and getting organized with various aspects of one’s life. According to a recent survey by the Journal of Clinical Psychology, almost 50% of Americans make a New Year’s resolution at the beginning or end of each year. How many people actually stick to their resolutions is a different story.
Common New Year’s Resolutions
This year, according to one study, the top 10 resolution list looked like this:
• Lose Weight
• Get Organized
• Improve Finances and Money Management
• Quality-of-Life Improvement
• Staying Fit and Getting Healthier
• Learn something exciting• Quit Smoking
• Help Others in Their Dreams
• Improve or add relationships
• Spend More Time with Family
Main Areas of Development
In analyzing the data further, the most common resolutions can be categorized into 4 major themes:
• Health and Fitness
• Finance and Money Management
• Relationships and Love
Financial Planning for the New Year
When it comes to the financial planning aspect of a person’s resolution, there are so many factors of consideration:
• Improving monthly cash flow
• Career or employment advancement
• Increasing savings or retirements
• Consolidating Debts
• Reducing Expenses
• Investment opportunities
• Long-term financial planning
Proper Financial Perspective
The above resolutions and financial objectives are just a small glimpse of how sensitive one must be when it comes to finances. Resolutions for self-improvement, health or fitness, and relationships are all enhanced with the proper finances and funds to help improve on your quality of life.
While money isn’t everything, managing it proficiently can certainly help dedicate more time and resources to other more important aspects of your life. If you own a home or are considering buying one, we can help you ensure that this tremendous financial decision is one that is made with the delicate consideration and thoughtfulness that your life deserves.
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