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farm406 12 farm finance As you know, 2021 was full of challenges. We were still feeling the effects of the COVID-19 pandemic when supply chains shut down and inflation heated up. So, if you're like many people, you might not be sorry to see the year come to a close. But now it's time to look ahead to a brighter 2022. And on a personal level, you may want to set some New Year's resolutions. You might resolve to improve your health and diet, and possibly learn some new skills, but why not make some financial resolutions, too? Here are a few ideas to consider: • Prepare for the unexpected. If you haven't already created an emergency fund, now may be a good time to start. Ideally, you'd like to have three to six months' worth of living expenses in this fund, with the money kept in a low-risk, liquid account. (If you're retired, you may want your emergency fund to contain up to a year's worth of living expenses.) Once you've got this fund established, you may be able to avoid dipping into long-term investments to pay for short-term needs, such as costly home or auto repairs or large medical bills. • Boost your retirement savings. e pandemic caused many of us to reevaluate our ability to eventually enjoy the retirement lifestyles we've envisioned. In fact, 33% of those planning to retire soon said they started to contribute even more to their retirement savings during the pandemic, according to a study from Age Wave and Edward Jones. is year, if you can afford it, increase your contributions to your I and your 401(k) or other employer-sponsored retirement plans. • Reduce your debt load. e less debt you carry, the more money you'll have available to support your lifestyle today and save and invest for tomorrow. So, this year, resolve to cut FINANCIAL FOCUS What are Your Financial Resolutions for 2022? Edward Jones

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