Sure it’s after January 1st, but I’ve never been a big fan of starting any of my own resolutions on January 1st anyway- I guess I think it is to clichéd, or more than likely it is too much pressure for me and I have never been that successful when I tried to start one on January 1st. Either way, I usually prefer to start them a week or so later.
While it is probably most common to lose weight, exercise, eat healthier, etc., money related resolutions are pretty common as well. On the usa.gov web page on popular New Year’s resolutions , “manage debt” and “save money” are at the top of the list.
My guess at what the top five money or personal finance related resolutions would be as follows, not necessarily in any order though:
Reduce and eliminate debt- Debt, especially credit card debt, can hang over your head, and really stress you out if you don’t have a desire and plan to stop incurring new debt.
Create and Stick to a Budget- Some people don’t really need a budget and get along just fine without one, others are a complete train wreck financially if they don’t follow a budget strictly. I guess I am somewhere in the middle, but being honest, I run into a lot more issues when I don’t follow my budget very carefully.
Spend less money- Spending less money goes hand-in hand with living on a budget, but the two are not necessarily tied together all of the time. You can budget spending, and still spend too much.
Make more money- Who doesn’t want to make more money? While many people are satisfied with what they make, I would guess that most wouldn’t mind making more.
Invest more, especially for retirement- As I hit my mid thirties (OK, mid to late 30’s), I know I have started thinking about retirement a lot more. Am I saving enough? How much do I need to save? These are common questions, and the answers can vary widely.
These money related resolutions are great ideas, but implementing a plan to stick with them over time is the key to being successful.
Over the next couple of weeks, I am going to address each of these 5 personal finance “resolutions” in more detail, starting with reducing and eliminating debt.
Have you made any of the money related resolutions above?
Similar Posts:
- Basic Money Management- Creating and Living on a Budget
- Tips for Making Your Personal Finance Resolutions Stick- Turn Your Resolutions into Habits
- Creating a Household Budget and Why it is Important
- Weekly Personal Finance Links- Will the Stimulus Actually Stimulate the Economy?
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