Welcome New Year 2009. A time to forget all those bad happened in previous year and go with new hope and plan. Here are some financial resolutions for late comers. Of course, any proper action by follow this article raise your financial status to safe side at the end of this year. Think right away and go ahead with right move.
Below are the points to identify your present status and required action to resolve the issues you have with each segments:
• What is your present financial status: Identify your present financial status. Do you good job and enough money to save? If yes, did you saved enough? Have a self check to understand whether you had saved enough money for you, your family and for your kids. If not, identify how you lost your money. Plan to not happen those mistakes in this year.
• Do you have a proper budget? If you have one, analyze to understand the success of your budget or take necessary steps to give more quality to your budget. If you don’t have a budget, prepare one to understand the flow of your money. This will help you to identify the sources where you are spending money unnecessarily to make yourself and your dependents poor.
• What is your debt status? Identify the loans and other debts you have. Prepare a checklist and plan necessary actions to avoid your bad debts as early as possible before starting any investments or savings. Immediately pay-off credit card and personal loan first. Have a clear idea to control the use of your credit card.
• What are your insurance needs? There are 5 insurance requirements to a person if he is the bread winner of a family. Term Insurance, health insurance, accident insurance, motor insurance, home insurance. Identify what all are the covers you required. Remember to calculate the same with the status of your family member etc.. keep visiting this blog for more information on all the mentioned 5 insurance policies and when a person required these. My next article is on the same.
• How to plan for your kids’ future? If you have children, this is an important point you have to consider in this year. There are classic strategies that you can follow to bring your kids future bright and enhancing. You can dig further in this blog to get excellent articles on child investments and child planning.
• What about the retirement life? This is another section you should take well care of. If you have not start any plan for your retirement life yet, should start one as early as possible. Find excellent articles in this blog under the label of financial planning.
Above mentioned 6 points required your attention and self check to understand your present status. As I have only mentioned the required points, you required to dig more with this blog and visit continuously to get new ideas to understand how to plan and execute to achieve each of this. I ensure that, this blog has enough well written articles on each of the above points because of its neat dedication to investing and financial planning. Hope to see you here always.
Comment or use the contact form to contact if you have any doubts or have an idea to me to add with this article.
Wish you and family a very happy and prosperous new year.