Tips for Financially Successful
Tips for Financially Successful – The New Year is here, and it can be the best one ever for you financially! How do I know this? Simple, if you get on board, and put good financial management principles in place it will enable to get the best out of your money! Slot Game Online.
Christmas is finished and you probably spent lots of money during the festive season on gifts, eating and drinking and, partying! Now you need to lay down some financial guidelines for the New Year to ensure a financially successful 2012. So here are some money management tips for the New Year:
1. Invest in your Financial Education
There is a saying that “the more you learn is the more you earn”. If you are going to acquire a new way of thinking about your finances then you are going to need to read and study more financial literature. There are numerous books on the market that you can purchase to help you increase your money management knowledge.
2. Review your assets and liabilities
At the beginning of the year you need to identify your starting point. So review your assets as follows: a. the value of your house, b. the value of your investments such as savings, shares and bonds, c. the balance on your current and deposit accounts, d. value of your pension and insurance. Also review your liabilities such as the balance on your mortgage, loan, and credit cards.
3. Review your budget
Check your budget to ensure it contains all your income and expenditure. Make sure there are no new monthly direct debits that have crept in unawares, or increases in your monthly bills such as council tax, utilities, mortgage, annual bus or rail passes. Despite being small amounts such increases can build up and disrupt your finely tuned budget. Also on the plus side check any increase your income such as an annual pay rise, increase in child benefits, family credit, and income from your investments.
4. Set your financial goals (expenditure) for 2012
Think about the things you want to do in the 2012, which are going to require considerable expenditure. A new home, new car, wedding, a new addition to the family, or an expensive holiday. All of these things need to be paid for, so you need to put plans in place to make sure you can afford them without getting into debt.
5. Set your financial goals (savings/investment)
You need a saving and investment goal for the New Year. Try and see if you can save a greater percentage of your salary, check the interest rates being paid on your current and deposit accounts; if they are not up to scratch. The beginning of the year is an ideal time to look around for a better account which pays you more for looking after your money!
6. Set your financial goals (debt reduction)
In 2012 you need to maintain your drive to reduce your debts to the point where you are debt free. Using your debt reduction plan prioritize your highest debts and pay them off one by one till they are all gone. If you don’t have a debt reduction plan you should get one right away.
7. Spend wisely
Make 2012 the year you bring discipline to your spending. No more impulse purchases. Shop with cash and leave your cards at home, purchase on-line where it’s cheaper; no more living off your overdraft, and most importantly if you don’t have the money don’t spend it!
8. Get a credit check
It is a distinct possibility that at some time during the year your credit status will play a significant part in your money management strategy. So it pays to know from the outset what your credit rating is, and get a credit report. The report will show your credit history and your rating. It will enable you to check all your credit dealings and ensure that they are correctly recorded, and rectify them if they are not, as any adverse entry will detrimentally affect your credit rating. You can do it all on-line.
9. Review you income potential
The most obvious way of enhancing your financial position in the coming year is to increase your income. So this is a good time to look at your earning potential; are you entitled to a promotion or is time to change your job, or maybe even your career? Alternatively, maybe you can get second job or look at other income generating opportunities such as network marketing or an internet business.
10. Review your security
Do you have life insurance, a pension and a will? If not now is the time to get these fundamental things in place. Speak with an independent financial advisor immediately. Tips for Financially Successful
11. Get Help Finally
If after carrying out the above steps you find you are really struggling with your finances don’t worry or ignore the problem; get help! Organisations such credit action specialise in providing advice for people in serious debt. Check them out at Like I said this can be your best financial year ever, just follow the tips! Tips for Financially Successful