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In the Media – A financial cleanse to close out your year? (CNBC)

A financial cleanse to close out your year? Here’s how to know if it’s right for you

Our very own Marcus Holzberg, CFP® was recently featured in an article from CNBC Select about a recent TikTok trend called the ‘financial cleanse.’

The financial cleanse is an easy way to organize your budget by essentially creating a financial journal. It involves evaluating your finances to spark mindfulness about your spending. The hope is that writing your expenditures out in one place can help you reset some of your financial habits and make more suitable money decisions.

Over the years, many people have written about different strategies for budgeting. It can be really challenging to systematize spending patterns and transform practices that are potentially harmful to your wallet into good savings routines. At the core of most budgeting strategies are the following:

  1. Take stock of the financial-related items in your life (expenses, savings, etc.),

  2. Organize them into categories, and

  3. Methodically declutter and simplify your life.

Often, when we decide to adjust our financial ways and look for the best strategy on how to do so, we get so focused on finding the perfect solution that it inhibits us from taking the first step toward meaningful change. Moreover, in creating a budget, you are uncovering your relationship with money. Consequently, you may experience different feelings of surprise, excitement, nostalgia, embarrassment, etc. Try not to feel shame or assign blame to some of these purchasing events; we all make decisions in the moment that make sense given our unique circumstances. Instead, try to act dispassionately to help accomplish the goal of the budgeting exercise – to lighten the load of financial stress weighing on you physically and/or mentally.

The most important thing is taking that first step and trying something. If it does not work, move on and try something else that may be better for you. As Marcus says in the article, “There’s a misconception that wealth is a once-in-a-lifetime decision or transformation that you make. It’s just a product of recurring habits compounded over long periods of time.”

To learn more about this budgeting strategy, check out the article here in CNBC Select featuring Marcus Holzberg, CFP®.

If you have questions about ways to make your budgeting more effective, talk with a financial advisor. You can schedule a complimentary, no-obligation call with us here!

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About the Author

Holzberg Wealth Management is a family-owned and operated financial planning and investment management firm based in Marin County, CA. As your financial advisors, we serve you as a fiduciary and are fee-only, so we never receive commissions of any kind. We help individuals and families like you in the greater San Francisco Bay Area and virtually nationwide with the financial decision-making process to organize, grow, and protect your assets.

** This writing is for informational purposes only. The author and Holzberg Wealth Management do not guarantee or otherwise promise any results that may be obtained from using this report. No reader should make any investment decision without first consulting their financial advisor and conducting their own research and due diligence. These commentaries, analyses, opinions, and recommendations represent the personal and subjective views of the author and do not constitute a recommendation, offer, or solicitation to make any securities transaction. The information provided in this report is obtained from sources that the author believes to be reliable. External links to third parties are being provided for informational purposes only. Holzberg Wealth Management is not affiliated with the third-party websites linked to, unless otherwise explicitly stated, and does not constitute an endorsement or approval by Holzberg Wealth Management of any of the third party’s products, services, or opinions.


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