Back to Basics in 2009
For many a new year brings a new hope. It means that your taxes are just about ready to be filed, and new resolutions are ready to be attempted. My take on resolutions are that they shouldn’t be tied to jsut the beginning of the year but should be laid in place and maintained with discipline year round. For me there is less pressure and my goals are much more attainable.
For personal finance, however, this should be the time for you to re-evaluate what it is you are spending your hard earned money on. Going back to basics means that you stop superferlous spending and not just because the holidays are over. Holidays should be no excuse for imprudent budgeting. Its a time for a clean slate and new financial objectives.
- How is your emergency fund?
- Are you ready to max out your IRA?
- Have you started looking to see if you can get any deductions on your taxes? (W-2’s will be out soon!)
- Make a list of what you will need to get for the holidays next year and stick to it. Purchase slowly over the course of the year and stop when the list has been completed.
- Start a new calendar with your bills and their due dates. Display where you will see it often. When I have something long term I need to be ready for, I will use a dry erase marker on our bathroom mirror. Its easy to clean when I am done, and I see it everyday, and not everyone else has to see it.
- Check out Mint.com and see how it can get you started. Its a secure as logging in to your own bank, but don’t feel obligated to act on their credit card suggestions.
- Set your own credit cards to be paid automatically and make a note in your budget that that money is already spent. You should be at least below 49% especially if you are eyeing the real estate market.
That should be enough to get your year kicked off, and speaking of which, I am going to go back to watching Penn State struggle against the formidable Trojans. JoePa: Maybe we need you downstairs with the team?
Related articles you might be interested in:
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader or email.
Comments
No comments yet.
Leave a comment