Tomorrow is a brand new beginning, and is usually the time everyone makes New Year’s resolutions, pledging to be thinner, more spiritual, kinder, less controling, etc, by the time the ball drops in 2010.
But if there’s one thing you need to focused on, it’s your money. 2008 was a doozy. There didn’t seem to be a safe place other than under the mattress to put your money.
This article, by the good folks over at Million Dollar Journey, tells how they went from -$40,000 to $285,000 in five years. Mostly, the article is common sense.
Mainly:
We systematically controlled our spending so that our expenses were well below our income. We then took the savings and aggressively paid down our debts while at the same time investing for our retirement.
That’s obvious, but so many people don’t do it. Here are my financial resolutions for 2009. Add yours in the comments!
- Buy a great house. (Already halfway there.)
- Continue writing for additional income (and because I like it.) Click here for my posts on side hustles and how to get one for yourself!
- Save at least $1,000 per month to put in a high-yield savings account.
- Begin saving for retirement. (Already done!) Signed up for 403(b) contributions last week!
Happy New Year!
I love your blog
Beginning of the year is definitely a good time to set financial goals. I’m still thinking about mine. There won’t be any immediate changes for me since stability won’t be coming until the middle of the year.
However, there are a few things that can start immediately…
1. Invest in my daughter’s education (saving a little is better than not saving at all)
2. Make sure all bills (especially lines of credit) get paid on time
That just made my day! Thanks!