Financial Resolutions For 2013
With less than a week remaining for ushering in the New Year 2013
, I am sure most of my readers would have mentally prepared their own lists of New Year resolutions. I wouldnt be surprised to see if they cover habits like Quitting Smoking/Drinking, Reducing weight, learning a new sport.
But friends I think to keep pace with the current standard of living that we all are accustomed too, I think its very highly practical to develop some good financial resolutions that will aid us in achieving our mid-term or long term financial goals. Lets not forget that for the last few years we have seen a lot of economic upheaval and instability which has indeed affected individual financials till a very large extent. Below resolutions prepared after some research are suggested so that you move ahead towards having significant financial security for yourself and your family.
1.Meet up a good financial advisor: - Having spent more than a year writing about stock related products, I have come to realize that there is much more to it than just investing with ones own wisdom. A good financial advisor would make you aware realistically of how your wealth is growing and he/she will also help you to achieve your finance related goals in a step wise manner. For treating our physical and mental ailments we choose a good doctor who has good proven past experience and merit so that we enjoy a healthy body and mind, like wise its essential to have a good financial advisor to ensure that you and your family are enjoying good financial health.
2.Review your covered
health insurance : Having been through 3 surgeries on myself, and having to pay that on my own, I have realized it the hard way of how even planned hospital visits can burn a severe hole in your wallet. So Health Insurance is a must for all working individuals, it would be prudent not to depend on the co-pays and company health insurance provided by the employer as they hold good only till the duration of employment by the employee.
3.Review your investments: - Based on the recommendations of your financial advisor it would be a great idea to review ones investments, if you investment portfolio consists of regularly underperforming stocks it would be wise to replace them with profiteering ones. One should not do the mistake of investing and forgetting ones investment, this is your hard earned money it important and you evaluate it regularly to make sure that its growing well.
4.Make additional money doing what you love: - All of us are professionally employed which means ideally we choose to make a profession of what we most love doing, but many at times an Individual might not take upon something which he loves on a full time role, for e.g. myself I being a film buff and critique would love to in the year 2013 write film reviews. Apart from acting like an excellent stress buster, it can surely help in with some extra $$$.
5.Using Online Finance utilities: When I am referring to online finance utilities, I mean one should take advantage of all the online financial services which are offered by various financial intermediaries. Like for e.g. all banks are encouraging its computer literate customers to avail of net banking, this transition only has advantages as net banking allows you to carry out a host of banking related transactions from your very desktop. Apart from the reams of paperwork that it minimizes for both you and the bank, net banking saves what you value most, your TIME.
On a concluding note, wishing all my readers in advance a happy new year 2013, the above resolutions are just a few of the many that you could make for the New Year.
Disclaimer:
1. Views as are mentioned in the article are personal views of Author and nothing to link with Co., its Director and Employees.
2. All investments are subject to market risk and you need to consult your financial advisor/consultant before investment
by: Brian Anthony
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