As 2006 winds down, let’s take some time to look back at all the experiences, both good and bad, that we’ve had with money this year, and reflect on the lessons that we’ve learnt. This is a perfect time to make some definite plans to make 2007 a really ‘Prosperous New Year’.

Here are some money resolutions that can help you to be financially successful in 2007 and beyond:

1.   I will make a budget.

Get honest about the state of your finances by documenting all your expenses. Then write down your income to see if you’re really earning enough to cover your spending. Chances are, if you feel like you’re living ‘hand-to-mouth‘ or you’re in debt, then your income isn’t enough to meet your needs. The following two resolutions will help to solve this problem.

2.   I will reduce spending on unnecessary items.

Look at your budget to see where you’re spending too much money. Phone cards, fast food and entertainment are some of the areas where money goes down the drain. Ask yourself if you would prefer to achieve a big financial goal or to continue to waste money on frivolous items. Make the choice to save more or reduce your debt, by spending your money more wisely. Continue reading 2007 Money Resolutions →