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Making the right financial decisions, and surviving for many of us, wasn’t easy this year. With a failing economy and inconsistent stock market, staying financially stable is a challenge to say the least. However, luckily for the financially frustrated, 2012 brings a fresh breath of financial opportunity. Question is, how do find ourselves smelling the savings and foregoing the spending pattern of years past? Prepare your financial resolutions for the New Year today. Every dollar, and day, counts! Here are some ideas that may help you get started in formulating a rockstar resolution!
Reflect on Your Saving Habits
America has one of the worst savings rates in the World. That’s why, for 2012, it’s best to start developing some type of strategy. Whether this consists of the $5 a day rule, and really sticking to it, or looking into a savings club or account, any effort is better than none.
A good nest egg doesn’t just prove useful in times of serious hardship or retirement. Sacrificing to save on a regular basis can improve daily productivity and financial motivation. A strong saving ethic is just like its cousin the work ethic. Feeling a commitment towards something naturally spreads awareness and accountability.
Inquire Into Investing
Investing is a practice for the educated – so if you haven’t already, do your homework. Take a look out your earning potential and yearly financial needs to determine how much you can afford to spend. Read up on the subject, ask or hire someone that can provide sound advice. A serious decision like investing takes serious advisement. Start off slow, or if already in knee-deep, find out to reign in your investments to make them more manageable. Investing can become a passion, but, don’t let that passion hinder your financial future.
Put Debt Management First
A hastily made purchase or skewed sense of financial freedom can quickly turn into an unmanageable amount of debt. Whether you buy used and save the difference, or close your eyes while walking past your favorite shop, you’ll be glad you kept that wallet closed when next month’s bills come around. Let your already existing debt determine your spending patterns for the upcoming year. Getting out of debt can be hardest when just getting started. But a strong sense of persistency will have you creating a little debt management magic in no time!
Take it One Day at a Time
Finding financial freedom will not happen overnight. It takes many and many days of making smart moves to see results. So before letting frustration creep up on you, take a deep breath and continue to move forward in a positive direction. Focus on the success you make on a momentary basis. Sacrificing a Starbucks latte for that homemade cup of coffee, or taking the bus instead of your gas-guzzler is an accomplishment worth celebrating. These are the small actions that can make a difference in the long run. So in this new year of 2012, go forth and add a little financial flavor to your list of resolutions. Planning and actively working towards a secure financial future is essential for everyone. Happy New Year and Happy Planning!
About the Author: George Gallagher is a personal finance and education blogger and writer. He also works with graduates to find solutions to their student loan consolidation needs.
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