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New Year Financial Resolution


Do you have any financial New Year’s resolution? Getting your financial life in shape is a common New Year resolution that is more likely to be broken before the first month. Make realistic financial resolutions or goals for 2018 that you should be able to achieve. Here are some smart and simple financial New Year’s resolutions that you can actually keep to realize your financial goals. – PowerPoint PPT presentation

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Title: New Year Financial Resolution

New Year Financial Resolution
  • You Can Actually Keep

Do you have any financial New Years resolution?
Its possible that most of them are on the verge
of being broken already. But, your finances are
one aspect of your life that you cant afford to
overlook this year.
Set up a Plan for Paying off Your Debts
  • Calculate the total amount of debt that you need
    to pay in the year, which should include the
    total amount you owe through your credit cards
    and loans.
  • Then, identify the debt which carries the maximum
    interest and pay more than its minimum monthly
    payment amount, while continuing to pay the
    minimum monthly amount on other debts.

Save a Little Amount Every Month
  • In order to meet other financial goals, such as
    saving for the down payment on a home loan, auto
    loan or for vacations, its important that you
    have dedicated saving plans in the process.
  • First, calculate the amount you need to save
    every month to meet all financial goals, and then
    automate your savings through your bank account
    or payroll deduction.
  • This will ensure you reach your financial goals
    early enough by making some actual saving rather
    than saving on and off.

Invest Wisely
  • Make sure anything you invest fits your current
  • Invest the money you have saved in low-risk
    ventures or put it aside in accounts that will
    grow like an IRA or 401k.
  • Divide your investments among stocks, bonds, and
  • Its safer to allocate your long-term investments
    in a diversified portfolio.

Chart a Savings Plan for You and Your Family
  • Make a well-charted plan to meet your and your
    familys financial needs. This could include
    saving for your retirement or setting aside money
    for your childs college education.
  • Saving through your employers retirement plan,
    an IRA, an Education Savings Account, or US
    Government Savings Bonds can help your family
    save for rainy days, while saving you taxes as

Make S.M.A.R.T. Financial Goals
  • S.M.A.R.T. financial goals should be specific,
    measurable, achievable, realistic, and
  • Make sure all your financial goals are realistic
    and easy to achieve.
  • Investing a large amount could drive you
    off-track from meeting your financial needs,
    while investing in shorter amounts could lead you
    astray from your financial goals.

Review Your Financial Progress Regularly
  • Keep an eye on the progress of your financial
    goals every quarter.
  • Review your credit report and take steps to
    improve it.
  • Revisit your financial goals and revise some
    goals if needed.
  • Adjust your goals and plans according to any
    changes in tax laws, inflation rate, and market

When you break down your financial goals into
simple steps, it makes achieving your financial
goals a whole lot easier. Set aside some time to
put these resolutions into practice and make sure
you stick to them. A little effort in the
beginning of the year will yield tremendous
benefits at the end of the year.
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