Financial advice
Creating Financial Resolutions for the New year
W
ith the New Year just around the
corner, now is the perfect time to
make some financial resolutions
to help you ring in 2012 with confidence.
According to a survey by Fidelity
Investments, most people are likely to say
they want to save more and spend less.
While increasing savings and decreasing
spending are always important goals and a
great place to start, don’t feel like you have
to stop there. If the recession is grinding on
a little longer than you thought or you’re
ready to change the way you look at your
money, it’s time to create a plan to go above
and beyond the basics.
move the goalposts. How have your
goals changed over the last 12 months?
Build a better budget.
trim some
Page 6 The Portland Skanner January 4, 2012
expenses to be sure you have enough to live
within your means
create an emergency fund. set aside
three to six months of living expenses.
Save for a down payment. saving more
and spending less will help you
Prioritize your debts. credit cards with
high interest rates should top the list of debt
to get rid of first.
Don’t forget about retirement. open an
individual retirement account (IRA)
review your income taxes You may
need to change your withholding.
Be aware. Keep your credit history clean.
get help when you need it. An occasion-
al check up from a CPA.
get smart. Know enough to take an
active role in your finances.