Personal finance resolutions to consider as we move into another year of the coronavirus pandemic

Still, initial claims for unemployment have fallen back into the more normal range. In the week ending Jan 1, 2022, some 207,000 people filed for unemployment insurance for the first time. A year ago, 898,610 people filed for unemployment insurance.

Looking back over the year, Federal, state and local governments provided a significant amount of help to businesses and individuals in the way of PPP loans, Economic Impact Payments, Child Tax Credit Payments, rent payments, and federal student loan deferments (which continue through May 1, 2022), among other assistance.

In 2020, Americans banked the cash they received, or used it to pay down debt (known as deleveraging). In 2021, more of this extra cash got spent, causing shortages and inflation.

What will 2022 bring? It’s hard to know. Certainly, we’re going to have to find a way to live with COVID-19 for a while longer. Employers are paying more for talent (and providing other benefits as well) in order to keep turnover as low as possible and the remaining workforce engaged. And the stock market started the year hitting new record highs, even as the Federal Reserve forecast at least three rate hikes for the year.

As statisticians might say, there’s a lot of noise out there. But on a personal level, there are several personal finance resolutions you can make for 2022 that might provide clarity around your money and help you retool as we make our way forward: