It's a tradition to start the new year with a resolution to do something differently but as my colleague Jeremy Squibb highlighted in his post yesterday, what seems like a good idea as you celebrated the arrival of January 1st may appear a little daunting now. It's so easy to put it off or even talk ourselves out of it.
So, is sorting your finances your resolution? It is? Then read on...
Scrolling through a list of financial top tips and ideas is only part of the the solution. The article below by Jason Butler, an eminent financial planner I've had the pleasure of meeting several times, offers some great pointers on how you might improve your finances. But understanding what you could do is only part of the solution. Finding the motivation to start something new and then sticking to it is the real challenge.
So what can you do?
Let's start by answering these questions:
1. what made you decide this is the one? What's brought you to this point?
2. what needs to happen for you to feel really pleased, proud even, that you did something about it?
3. what are the consequences of doing northing?
Hopefully, you can answer question 1 and question 3 without too much difficulty. Answering question 2 takes more thought. What exactly needs to happen and what does the end result look like? What would it mean to you to have your finances in order?
Often we tell ourselves we don't know or we over-think ideas in our quest for a solution and become disillusioned or inertia sets in triggered by a fear of getting it wrong. But if you can answer question 2, you'll find all the motivation you need to get going. Add in the 29 day challenge Jeremy wrote about in his post and your finances could be where you want them to be very quickly.
Finally, share your resolution with a friend or relative. Someone who will hold you to account when the going get's tough.
Have a read at Jason Butler's article and hopefully, sorting your finances is one resolution you'll not be making in 2018!
It doesn’t matter how much you earn, if you spend too much, then you will never be financially secure. If you never seem to be able to regularly save a meaningful amount, or you are racking up debt, then chances are you don’t know exactly how much you are spending and on what. Try these tips to get control of spending: