Local financial advisor discusses staying on track with 2024 financial resolutions

MILWAUKEE (CBS 58) -- In the wake of inflation and interest rate hikes, Americans are increasingly focusing on financial well-being as a key resolution for 2024.

Financial expert Tony Drake of Drake & Associates joined us to share his insights Tuesday, Jan. 30, emphasizing the of setting realistic financial goals. He mentioned the need for strategic planning to improve financial situations, including easing the anxiety about finances reported by around 77% of Americans.

Drake suggested starting with achievable goals, such as initiating a savings plan, while also working to enhance financial literacy. He also recommended writing goals down, seeking accountability partners and being adaptable to changing circumstances, whether it involves adjusting savings goals due to inflation or increasing them following a raise.