CORPUS CHRISTI, Tx — There's certain resolutions we hear more than others. Like wanting to work out, learning a new skill and being more responsible with our money. And we’d all love to save some money, but that's tough to do when things like groceries cost so much.
Here’s some expert advice on how you can start the new year on strong financial footing and keep the momentum going throughout 2025
Keith Clark became a financial advisor after leaving the Air Force.
“I had no idea about investing, investments, how to do it but I wanted to learn,” Clark said.
He enjoyed helping people through the military. But now he enjoys helping his neighbors in a different way.
“When you help somebody achieve their financial goals sooner than they ever thought they could, nothing is greater,” Clark said.
Clark said finances don’t just affect a certain age group or person. They affect everyone.
“We ask ourselves, what do I spend? What do I enjoy today, what do I put off for tomorrow,” Clark said.
Since people’s needs and priorities change over time, one needs to plan for these changes as well.
“I assure you every ten years, your thoughts are going to change, your feelings are going to change. The one thing that never changes is inflation. Inflation is always rising so you always need more in the future than you need today,” Clark said.
So if your goal is to become financially stable, where can you begin?
“It’s important to start early. It's important to be disciplined. It's important to have a strategy in place,” Clark said.
Clark said the best place to start is to look at your budget and income. That will help you differentiate between what you need versus what you want.
“You have the nice things of life and the necessities. Focus on the necessities first,” Clark said.
If you don’t need it, save your money. Don’t try to buy something that will only put you in more debt. There’s also a difference between good debt and bad debt.
“Debt can help you or it can hurt you. If you go into debt for a home, fine, that's a helpful debt. Debt for a student loan, that's helpful. If you take on debt like credit card debt or buying cars in excess of your needs, you're paying more and receiving the same benefit from that,” Clark said.
He adds that if you need a loan, look into certain ones.
“Look at zero-interest credit cards. Find those loans you don’t pay interest on for 12-15 months,” Clark said.
If you have children or a family, your strategy doesn’t just include you anymore. Clark said your strategy might have to come with sacrifices. Also, if you are married, make sure both in the relationship learn and understand the budget, in case someone has to take the reigns one day.
“To the married couple, come together. Develop a plan together. Bring your kids. Kids' needs are different than the parents needs,” Clark said.
For more information on ways to save money or to look into ways to invest it, contact Clark at Coastal Financial on Padre Island. The office number is 361-949-3330. You can also visit their website at coastalfinancialllc.com
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