Priya PatelTLDR: Getting your personal finances in order in 2024 requires a plan.
The number of consumers pledging to get their personal finances in order this year rose to 48%.
Ed Gjertsen, founder and CEO of Engage Wealth Group, emphasizes the importance of planning and being honest with oneself.
Barbara Levine, a client of Gjertsen’s firm, shares how creating a financial plan was a relief.
Time-tested strategies such as switching to cash and creating a budget can still be effective.
Public libraries often feature programs and workshops on personal finance topics.
Financial websites offer tools and resources to help consumers better manage their money.
The Illinois Financial Wellness Hub, launched by the State Treasurer, provides personalized recommendations for consumers.
Local retailers offer loyalty memberships that unlock discounts or personalized deals based on spending.
Peoples Gas and ComEd offer energy efficiency programs to lower monthly costs.
Financial independence should be the goal for individuals.
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Getting your personal finances in order in 2024 requires a plan, according to an article by Jackie Dulan in the Chicago Sun-Times. The number of consumers pledging to improve their financial situation rose to 48% this year, with people expressing a desire to better manage their money and save more. Ed Gjertsen, founder and CEO of Engage Wealth Group, emphasizes the importance of planning and being honest with oneself when it comes to personal finances. He urges individuals to focus on moving forward rather than dwelling on past mistakes or poor decisions.
Barbara Levine, a client of Gjertsen’s firm, attests to the relief she felt after creating a financial plan. Levine, the founder and CEO of The Robert H. Levine Foundation, faced financial hurdles such as credit card debt and financial losses, but pulling herself together made a significant difference. She recommends time-tested strategies such as switching to cash and creating a budget, even though they may be more difficult in today’s cashless environment.
Public libraries often offer programs and workshops on personal finance topics, such as budgeting, saving for college, or buying a home. The Chicago Public Library, for example, hosts a Money Management Workshop in partnership with Access Living Chicago. Financial websites are another valuable resource, offering tools and resources to help consumers better manage their money. There are also free resources available, such as the Illinois Financial Wellness Hub, launched by State Treasurer Michael Frerichs in partnership with the University of Illinois Chicago. The platform allows consumers to perform a financial checkup and receive personalized recommendations.
In addition to creating a financial plan, individuals may also consider budgeting, spending less, and finding ways to save. Loyalty memberships at local retailers, like Jewel and Mariano’s, offer discounts and personalized deals based on spending. Energy efficiency programs from Peoples Gas and ComEd can help lower monthly costs. Ultimately, Gjertsen believes that financial independence should be the goal for individuals, and individuals should focus on finding the path that leads them there.
