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Happy New Year!! Regular readers probably know about my fondness for making New Year resolutions and the marginal success that I generally manage to achieve as regards keeping those New Year resolutions. This year as well, there are resolutions being made and which specific reference to my financial situation.

So here are my financial New Year resolutions for the year 2012:

1. Getting out of debt. I am lucky that I do not have a lot of debt but I want to clear what debt I have and be very careful about the bills that I run up. What I plan to do is give up all except one credit card. This way there are fewer bills to keep track of and simpler and easier to make payments. There is less chance of an oversight that increases the debt.
2. I am going to pay more attention to savings and am going to try and diversify my savings portfolio in a way that offers better returns. I am thinking in terms of buying gold (can’t go wrong with this; global gold prices are going through the roof) which is something that I have learnt from certain traditional societies who invest all their wealth in jewelry. I am also thinking in terms of getting some mutual funds.
3. I am also considering taking some courses to learn some new skills to add to my skill set. This will help me have better and more marketable qualifications, which in the end should translate into a better income. This is a long term plan however which I still need to give a lot of thought to.
4. I resolve to eat out less. This is good for me in so many different ways. Not only do I save a packet by not eating out and cooking at home, I am less likely to overeat at home which is good for my health. When I cook at home I know exactly what goes into the meal so I know not to put too much sugar, salt and fat into what I eat.
5. I resolve to be a savvy shopper. You may well say that I am already a savvy shopper, which I am, but I shall be more circumspect in the amount that I buy and shall be more vigilant about trawling the net to find the best deals for all of that which I plan to buy.

Hopefully my financial new year resolutions may inspire some more out there: any more ideas?

Tags: Celebrations, General, Money Saving // Add Comment »