Just a few days are left before we enter the New Year 2010. With every New Year come new plans, new commitments, new resolution, and new promises. Here, we will find out what can be our New Year resolution in terms of financial matters. Since the past two years, we have been battered with the word “recession”. This has been eating us for a long time. Every now and then, we have been hit by recession. Anyway, it is time to get rid of it. Each year we make some resolutions and later we find ways to give excuses for not materializing them. But, this year, let’s make some realistic resolution which we think we can fulfill at the end of the year. First, let’s sort out what will be our priorities this year. Do we wish to purchase any home this year; do we need loans for kid’s educations; do we have pending balance for any loan or credit cards; or so on. Then, according to our plans, we need to allocate both our time and finance to our priorities. After we are done with finalizing where to put money more, we will create a reasonable budget, which we can pursue. It will be a routine for us to go through the budget almost everyday. If we have pending balance for credit cards or loans or both, then this will be our first priority, lest it should affect our credit report. We will not be late in paying our credit card bills or insurance premiums this year. We will channelize our funds towards our outstanding balances. If required, we will contact any debt consolidation firm and try to consolidate our debts. This will help us save some bucks and also our valuable time. We will limit our usages of credit cards to minimum and would not apply for any new one until the old ones are paid off. We will keep abreast with our credit reports periodically and see to it that it is improving. And, in case of any home purchase or loans, we will not fall prey to any cheats. We will ourselves investigate and find out which company offers the best bid. We will take time to finalize the offiers and then go for them. We will also pay our taxes on time and file for tax returns forms in time as well. We hope this coming year will be a much better one. Amen!
Minggu, 27 Desember 2009
What shall be our financial resolution for the coming New Year?
Just a few days are left before we enter the New Year 2010. With every New Year come new plans, new commitments, new resolution, and new promises. Here, we will find out what can be our New Year resolution in terms of financial matters. Since the past two years, we have been battered with the word “recession”. This has been eating us for a long time. Every now and then, we have been hit by recession. Anyway, it is time to get rid of it. Each year we make some resolutions and later we find ways to give excuses for not materializing them. But, this year, let’s make some realistic resolution which we think we can fulfill at the end of the year. First, let’s sort out what will be our priorities this year. Do we wish to purchase any home this year; do we need loans for kid’s educations; do we have pending balance for any loan or credit cards; or so on. Then, according to our plans, we need to allocate both our time and finance to our priorities. After we are done with finalizing where to put money more, we will create a reasonable budget, which we can pursue. It will be a routine for us to go through the budget almost everyday. If we have pending balance for credit cards or loans or both, then this will be our first priority, lest it should affect our credit report. We will not be late in paying our credit card bills or insurance premiums this year. We will channelize our funds towards our outstanding balances. If required, we will contact any debt consolidation firm and try to consolidate our debts. This will help us save some bucks and also our valuable time. We will limit our usages of credit cards to minimum and would not apply for any new one until the old ones are paid off. We will keep abreast with our credit reports periodically and see to it that it is improving. And, in case of any home purchase or loans, we will not fall prey to any cheats. We will ourselves investigate and find out which company offers the best bid. We will take time to finalize the offiers and then go for them. We will also pay our taxes on time and file for tax returns forms in time as well. We hope this coming year will be a much better one. Amen!
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