Image courtesy of Florian Rohart
Image courtesy of Florian Rohart

New Year’s Resolutions can be vary from the very serious to the downright silly, but it can be wise deciding whether you should make one. Even if you think that you normally forget your resolution very quickly, it can be wise to make one anyway as it gets you thinking in the right direction and focusing towards a new goal.

Finances can be a great place to think about changing in the New Year. You may have debts that you would like to pay off, you may want to save more money, reduce your spending or start a retirement fund. Whatever it may be it can be a really good idea to focus on working towards it.

It is great having goals like this but wanting to change, although a great start, is not as important as actually changing. Writing down the goal and focussing on what you want to do and thinking about the way to do it is a great thing to do on New Year’s Day. If you want to start a pension then do some research and open one or make an appointment with a financial advisor. You could set a spending budget or work out a plan for how you are going to start to pay off your debt. It is a really good time to take a hard look at your finances and think about what needs improving. Many people will not be working and so they will have the time to think about this sort of thing, which is often hard to find the time to do. It does not need to take that long either, just thirty minutes of concentrated thought.

Whether you should do it or not should not really be a questions that you are considering. It is better if you do just do it. Everyone can make some improvements somewhere to their finances. It is worth taking a look at what debts you have, how much you have coming in and going out and where you tend to spend money and this will allow you to analyse and decide where you could improve things. Think about the future and what you need to plan for whether that is a big life event such as buying a house or a wedding or whether you need to plan for retirement, having children or whatever. There is always something in the future to think about and it is always worth seeing where you can improve. By having your finances as healthy as possible it will make you better able to cope if there are problems in the future. It will also get your into good spending habits and you should find that you will not have to worry about your finances as much as you may have done before. As money can be a big source of stress for  a lot of people, it can make a big difference if you feel that you are in control and know that you have a good financial future ahead of you.