As 2021 comes to a close, 2022 beckons right around the corner. For many, the beginning of each year is marked with an ambitious New Year’s Resolution that fails to materialize.

Start the year off right by making a simple goal to improve your finances.

Here is a starting list of some of the best New Year’s Resolutions you can make that will be worth the time and energy:

1. Open a Roth or Traditional IRA and max out the annual contribution of $6,000

2. Find out if your employer offers a retirement plan like a 401(k) and start a recurring contribution

3. Conduct a review of all accounts and assets and write everything down

4. Create a general budget for 2022

5. Write down your short and long term financial goals in a document and begin to track your progress

6. Start a business

7. Review your subscriptions, you may be being charged for something that you do not even use

8. Put some money into an alternative investment category (art, crypto, gold, etc.)

9. Hire a financial professional and have a conversation about planning for your future

10. Make a plan to reduce or eliminate high interest debt by tackling the debt with the highest interest first

11. Take online finance courses to expand your knowledge of money management

12. Be conscious about what you spend every day, cutting that expensive coffee out of your morning routine and making it at home could save you hundreds of dollars over the year

Implementing these simple steps could greatly improve your financial standings over this new year.

Make this list your new year's resolution — learn more about finances, and use your knowledge to maximize your financial potential.

Max Provencher is a senior at Searsport District High School. He currently serves as the Chapter President and founding member of the Searsport Future Business Leaders of America, Vice President of Maine FBLA, and serves as the FBLA National Treasurer. He helps to promote business education and financial literacy to over 200,000 members across the globe. Max is an avid investor in stocks and bonds, and works hard to promote financial literacy in schools as a member of the Maine DOE Student Cabinet. In his spare time he enjoys playing golf and running with his Airedale terrier, Ginger.

Ellis Braga is a senior at Searsport District High School. He is a Life Scout, and Eagle Scout Candidate. He is a member of the Amica Chapter of the National Honor Society. Ellis currently serves on Searsport District High School’s Student Council and is a member as well as chapter representative of Searsport District FBLA. He is an apprentice lobsterman and works at the local marina. Ellis enjoys woodworking, making knives, sailing, and hunting in his spare time.

The opinions of the writers don’t necessarily express the opinions of Maine-OK Enterprises, Inc. or its publications: the Penobscot Bay Pilot, Boothbay Register and Wiscasset Newspaper. Neither Max Provencher, Ellis Braga nor the staff and contributors of Maine-OK Enterprises, Inc. or its publications – the Penobscot Bay Pilot, Boothbay Register and Wiscasset Newspaper – are licensed financial advisors. Licensed financial advisors should be consulted before any investment actions referenced in this opinion article are executed.