Helping you with your Financial Resolutions
Written by Jim Yih
It’s that time of year again when use the new year as an excuse to overhaul different aspects of our lives and make financial resolutions. For many new years resolutions involve health and fitness but many people also try to make changes to improve their financial health.
3 keys to making good Financial resolutions
To be brutally honest, I am not a big fan of financial resolutions because far too often the change is temporary. Long-term change requires a change in lifestyle. I call it a long-term change in your financial habits. For resolutions to work, I believe there needs to be three key qualities. Resolutions need to be:0
1. SIMPLE – If it’s too complicated, it won’t happen.
2. SPECIFIC – Vague goals are useless. It’s important to be specific. For example, if you want to reduce your debt, you have to come up with a realistic amount and a time frame. If you try to do too much, it also won’t happen. You are better to one thing right than have a list of 3, 5 or 10 things that you won’t do or won’t do well.
3. AUTOMATED – We live in a busy world and the best way to make sure things get done is to make it a priority. The best way to make it a long-term priority is to automate it.
Common Financial Resolutions
Rather than re-invent the wheel, I thought I would share some articles revolving around some of the most common financial resolutions I see.
Helping you with the basics
· 6 Financial Habits to Take Control of Your Money
· Money Tip – Know Your Spending
· Money Tip – Calculate your net worth
· Principles of implementing your financial resolutions
Helping you pay down debts
Helping you save more money
· Useful Tips to Help You Save More Money
Helping you with your investments
Helping you protect your finances