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Kick-start your Resolution: 2022 financial outlook

Where does it make sense to save for 2022? Here's your answer.

CLEVELAND — As we look ahead to 2022, we want to help you get ready to kick off your New Year's resolutions on the right foot. If you're looking to make some changes with your finances, here's what to know.

Darrell Claytor, a registered representative with Securities America, gave us some tips, starting with a reminder that tax season is right around the corner.

"Last year was a tax season like I've never seen in the 40 years, with so many variables that were changing in tax season," he told us. "I would encourage people, No. 1, to re-organize."

Claytor says to remember that we still collected child tax credits and stimulus checks in 2021. Speaking of children, if you have a student preparing for college, consider doing the community college route first before spending money on the big universities, something Claytor says is growing in popularity.

"I see a lot of students that are attending four-year institutions and they're running up $100,000, $200,000 tabs on their student loans," he explained. "That's something that will haunt you for many years."

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And what about the housing market? We're hearing that it's improving, but enough to make 2022 a good year to buy? Claytor says it depends on your level of comfort.

"Mortgage rates are still relatively mild," he stated. "Even though the Federal Reserve said that they're gonna raise interest rates a couple times next year, interest rates are still dramatically less than they were last year."

The last tip? Stay optimistic! We all know finances can be the most stressful part of life, but even experts like Claytor say there is no need to panic.

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