June 28, 2012 § Leave a comment
So we are about halfway through the year and I think it’s a good time to revisit the top three financial resolutions and see if we need to do a bit of tweaking.
Save more – Saving more this year compared to last was the top financial resolution. Have you been able to add more per pay period to your retirement savings account? Do you have a retirement savings account? It’s not too late to get this resolution under way with determination.
F a retirement account is available to you at your job meet with your HR person or whoever is responsible and increase your contribution. If there is nothing available at your job or you work for yourself talk with an advisor about the best type of retirement account for your needs. All but Roth IRAs offer pre-tax savings for your money, which could be a help to your bottom line at tax time.
Spend less– Resolution #2 was to spend less. Have you cut back on your spending? Have you figured out ways to get great value with less money? Are you employing more creative ways to entertain? Have you stopped using shopping as a hobby so that there is less temptation to spend? If not, it’s not too late to get on track if this was your resolution.
Pay off debt – Paying off debt was resolution #3. How are you doing to make this a reality for you and your family?
Have you made arrangements to increase credit card payments? Or, have you successfully paid off all debt? If not that, do you have a schedule so that you know with certainty when you will be free of debt?
If you are out of work or underemployed, financial progress may be on hold. That is part of life. Don’t give up and lose your way because of setbacks.
But if one of your resolutions was to make a debt-repayment plan, you can do that today. Act now to accomplish what you said was important. If that is debt repayment, don’t add any new debt to your life and redouble your efforts to focus on your goals because it’s not speed, but tenacity, that wins the race.
September 2, 2011 § Leave a comment
8.) Spend less than you earn- This is a simple, and for many of us, a very hard truth. You can save, have nice things, and have some financial security by spending LESS than you make.