Ask The Hammer – Financial Resolutions

Key Takeaways

• Organize all financial documents and accounts (IRAs, 401ks, credit cards) into clear categories before tax season to avoid mistakes, reduce stress, and identify extra deductions you might otherwise miss.
• Prioritize your financial goals realistically—avoid trying to tackle everything at once, which leads to overwhelm and inaction; instead, rank goals and set reasonable deadlines to complete them one by one.
• Credit card debt should generally be paid off first, but context matters—if you have a 0% promotional period on one card while other debts carry higher rates, it may make sense to pay those other debts first during the promotional window.
• Not all debt is bad; mortgage debt at 3% interest rates can be a smart financial move, while education yourself on your unique situation determines whether paying down debt or investing more is the right priority for you.
• Consider working with a financial advisor if finances overwhelm you, you lack time to self-educate, or you've reached a certain income/net worth level—professional guidance helps ensure you don't miss critical opportunities or make costly mistakes.