6 Money resolutions to make a Fresh Start this September

As the summer season draws to a close and September approaches, it’s an opportune time to reflect on our financial habits and set new goals for the upcoming months. Making money resolutions can provide a fresh start and help improve our financial well-being. Whether you aim to save more, reduce debt, or develop better spending habits, here are six money resolutions to consider as you embark on a new chapter this September. 1. Create a Realistic Budget One of the most effective ways to take control of your finances is by creating a realistic budget. Start by evaluating your income and expenses, tracking your spending habits, and identifying areas where you can cut back. Allocate funds for essential expenses, savings, and debt repayment. Consider using budgeting apps or spreadsheets to help you stay organized and monitor your progress. A well-planned budget will empower you to make informed financial decisions and achieve your financial goals. 2. Save for an Emergency Fund Building an emergency fund is crucial to protect yourself from unexpected financial setbacks. Aim to save three to six months’ worth of living expenses in a separate account. Set up automatic transfers to ensure consistent contributions. Having an emergency fund provides peace of mind and helps you avoid resorting to high-interest debt in times of crisis. Start with small, regular contributions and gradually increase them over time as your financial situation improves. 3. Pay off Existing Debt Debt can weigh heavily on your financial health, so make it a priority to reduce and eliminate outstanding debts. Start by organizing your debts, prioritizing those with the highest interest rates or smallest balances. Consider implementing the “debt snowball” or “debt avalanche” method, depending on your preference and financial circumstances. Make consistent payments above the minimum amount due to accelerate your progress. As you pay off debts, redirect the freed-up funds towards other debts or savings goals. 4. Invest in Your Future September is an ideal time to evaluate your investment strategy and make adjustments as needed. Educate yourself about different investment options, such as stocks, bonds, mutual funds, or real estate, and consider seeking professional advice if necessary. Set specific investment goals, whether it’s retirement, education, or purchasing a home. Start investing early, even if it’s with small amounts, as the power of compounding can significantly grow your wealth over time. Remember, diversification and a long-term perspective are key to successful investing. 5. Cultivate Mindful Spending Habits Developing mindful spending habits can have a profound impact on your financial well-being. Before making a purchase, ask yourself if it aligns with your goals and values. Differentiate between wants and needs, and practice delayed gratification when possible. Look for opportunities to save money, such as negotiating bills, shopping for discounts, or seeking out cost-effective alternatives. By being intentional with your spending, you can maximize your savings, reduce unnecessary expenses, and make your money work harder for you. 6. Educate Yourself about Money Take the time to educate yourself about personal finance. There are numerous resources available, from personal finance blogs and books to podcasts and online courses. The more you know about managing your money, the better equipped you will be to make informed decisions and achieve your financial goals. Take a look at www.merlininvestor.com and find tips and tools to define your personal financial strategy! Remember, the key to these resolutions is consistency. Progress might be slow, but as long as you are moving forward, you are on the right track. Here’s to a prosperous September and a successful 2024!

Technology Innovators – Cover Page

Guido Petrelli, Founder & CEO of Merlin Investor, has been featured as the cover story in the special edition Top 25 Fintech CEOs of 2023, published by Technology Innovators Media Group LLC. Read the full interview as published in Technology Innovators magazine. An experienced corporate executive with demonstrated history and track record in creating and running international companies in several industries and regions, Guido Petrelli is the CEO of Merlin Investor, a fintech company that aims to democratize financial inclusion and investment strategies through a software for market study, investment planning, and portfolio tracking designed for any kind of investor. In an interview, Guido speaks on an array of subjects. Excerpts: Conception of Merlin Investor Says Guido that the world has seen an unprecedented shift in the approach to investing, with the new generation of retail investors being reluctant to entrust third parties for managing their own money while seeking to achieve financial freedom. “Still, we identified the need to educate and empower them with the necessary tools for conscious investing, risk management and strategic planning, as the key elements to become successful and the one and only master of their own financial future.” He adds that trading platforms did a great job in starting a democratization process in the investments space, still they mainly focused on the execution, which alone is not enough and may trigger a gambling approach, especially for beginner investors. “That’s why we saw the need of supporting the new generations to manage the whole investment cycle, while understanding the importance of strategic planning and risk diversification as the key to achieve positive results.” The Merlin solution The Merlin Platform is a multi-asset educational, strategizing and tracking tool, complementary to any trading platform and designed for any kind of retail investor, regardless of the level of knowledge or experience. “Our technology has been developed with the goal to enhance conscious investing for everyone and to empower the new generations to easily understand and manage the full investment cycle all in one place, while also taking into consideration the role that social media plays today when it comes to investing.” To complete the trading experience already offered by banks and trading platforms, the technology has been designed as a white label solution that financial institutions can easily integrate into their own digital platforms to offer an innovative, complete, and comprehensive digital investing experience to their clients. Merlin Investor—the conscious way of investing Maintains Guido that only through strategic planning is it possible to balance and diversify risks while building long term positive results. “To buy and sell assets without a plan would only set you up for potential catastrophic losses. It’s the norm for all professional investors, and it shall be the same also for the new generation of retail investors considering they are playing the same game.” Guido explains how the company found out most young folks who trade are investing without a strategy mindset. It’s a very risky approach for them, and therefore for the society, because historically markets have ups and downs, and only thanks to a positive sum game based on risk management is possible to build long lasting wealth and reach a real financial independence. “The analogy I can see is that the spread in the use of retail trading platforms has given anyone a Ferrari to drive, a very powerful but risky solution, but before doing that we missed to educate and equip them with the basic tools for conscious driving.” The result is that when the weather is nice, and there are no bumps or holes in the road, meaning when we are in a bull market, everybody believes to be the best driver in the world. Then when the conditions change the probability to crash becomes huge.” Based on this analogy, the company is on a mission; its moots for conscious investing and strategic planning, that is made accessible to all, regardless the level of knowledge or experience. “Through our product, we gamified the full investment cycle by making market study, investment planning, and performance tracking, understandable and fun for the new generation of retail investors, with the ultimate goal to help and empower them to become the one and only master of their own financial future. Then by embedding our white label technology into their own digital platform financial institutions can go beyond the sole execution of trades while offering a full and professional investment experience to anyone and all in one place.” Creating perfect synergies between fintech companies and financial Institutions “I believe fintech companies have a great spirit of innovation which is not biased and affected by old best practices or past consumer behaviours. This is combined with high flexibility, speed, and risk attitude. At the same times banks have a strong understanding in terms of compliance, which is very important to make a new technology deployable into the market, together with deep market reach and a huge and loyal consumer base acquired through the years, which makes possible to effectively deploy a new technology to a wide audience in a very short period.” Guido adds that combining the expertise of fintech companies and financial institutions, to exploit synergies and to create the perfect mix for a huge market success of new financial technologies should be the new approach. “Our approach is to work very close to the banking system in a proactive and constructive way, so that each party can learn from the other and add value in identifying the best formula for the best product market fit towards mutual success. That’s why I personally see a very collaborative and synergic approach between Fintech companies and Financial Institutions as the key for proper innovation in the banking system in the interest of both sides, and more important in the interest of the customer base who is ultimately served.” Innovation—The key Guido believes that the success for fintech startups comes from their strong ability to innovate and quickly deploy cutting-edge and cost-competitive technologies into the