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BillSavings.com BlogYour Financial Wish List for 2010Top Financial Goals for 2010Posted By Mindy
BillSavings.com Brief:
Find out which money-saving goals should be on your financial wish list for 2010 and start the New Year off right.
Are you hoping 2010 will be better than 2009? --Especially from a financial standpoint? If so, you can bet you’re not alone. Millions of people across the globe have big goals for the New Year, with the vast majority of those goals relating in some way to better financial health. Find out what the top ten money resolutions are for the year and put them on your own New Year’s wish list. Then watch that wish list unfold into a reality as you move forward with your financial goals. The importance of a wish list Some wise person once said you should always write down your wish list or goals – or at least the ones you’re serious about. That couldn’t be truer, especially when it comes to New Year’s resolutions. Writing down your goals says you’re committed to seeing them through. Writing down your goals also makes it more difficult to tuck those goals in a corner of your mind and never commit to them. In fact, if you really want to make sure you follow through on New Year’s resolutions, your best bet is to tell everyone you know about them. Post your goal or put your wish list on a big, obvious sign in a public place in your home or office. Get the word out so your friends and family members can hold you accountable. Put it in a place where you see it regularly so you’re bound to remember your commitment on a daily basis. Your Financial Wish List for 2010 To get you started, here are some of the most popular (and most important) goals to include on your 2010 financial wish list: Goal #1: Get into the habit of saving Saving money is a learned art. It’s not an ability you’re born with, nor is it something you’re incapable of mastering. If you haven’t already cultivated the habit, saving money is something you have to work at until it becomes second nature to you. When you tackle this goal, it’s important to know what you’re up against. For one, you may not ever have been taught how to appropriately save money. Invest in some books or read up on money saving tips. You also need to recognize that our culture does not encourage saving. Instead, we’re a spend-till-you drop type of society, and it’s something you’ll have to stand up against once you start saving. You can do it though, and it’ll be worth it in the end. Goal #2: Open your own personal savings account If you don’t already have one, this is a must-do for the New Year. A personal savings account makes the act of saving money insanely easier – especially if you can set up automated transfers that regularly move money into your account. If you have a joint savings account, that’s fine, but only if you play an active role in the act of saving. You need to be part of every decision made regarding building and using your savings account. Goal #3: Teach your children to save It’s a bizarre truth that our educational system teaches little in the way of personal finance. This leaves it up to you to teach your children how to handle their money. Start early by teaching your kids the value of earning money through chores or other tasks. Then guide them when they decide to spend their money. Encourage them to put some away in savings and show them the value of shopping around to look for good deals. Goal #4: Learn how to invest Investing your money is a proven way to increase your wealth. There are even some sure-bet options, so don’t worry that every investment comes with a big cloud of risk. Start familiarizing yourself with investment opportunities and put that knowledge into practice by opening an investment account with some of the money you save this year. Goal #5: Create an emergency fund Planning for the unforeseen just makes good sense. Nobody hopes to be laid off or to face huge medical bills, but things like that happen to even the best people. Build up an emergency fund large enough to cover your expenses for at least six months. You’d also be wise to put your emergency fund money in a money market account that is easily accessible (in case of emergency, obviously!), but that also grows at a steady rate. Category: Personal Finance 12/30/2009
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