3 Ways to Get 2010 Off to a Great Start Financially

by Jason on January 4, 2010

 

Happy New Year!

It’s hard to believe 2009 is over isn’t it?

The older I get, time seems to go by even faster wouldn’t you agree?

That is why it’s crucial to get a game plan in place at the start of 2010 – because next thing you know it will be June and you’ll look at the last six months and wonder why nothing changed for you financially!

Here are three things you should be thinking about as you look to make financial progress in 2010.

1. Where Are You Now Financially?

Think of this as your starting point.  With your finances it is imperative that you know where you are beginning from.

I’m constantly amazed at how many people are simply unaware of where they currently stand financially.

The best way to do this is with a little bit of work up front.

  • List out all of your assets and all of your liabilities to determine your net worth.
  • List out all of your income sources as well as each monthly expense item to determine your cash flow.
  • Make a budget

Don’t think of making a budget as a lack of freedom because what you’ll find is that you are actually more free to spend, save and give once you have the right budget in place.

2. Where Do You Want to Be Financially?

Envisioning your goals is the fun part –  Where do you want to be at the end of 2010?  If you need some ideas, check out what personal finance bloggers are setting as their top goals for 2010.

List your goals, set your priorities and get to work!

3. How You Will Get There

Developing a plan is key to reaching your goals.

The plan helps determine how you will reach the objectives you have set for yourself financially.

The plan should give you step by step direction and should also include your goals, when you’d like to reach them and what action you will take to get there.

What are some things that can help you implement the plan?

1. Read Personal Finance Blogs

There are a ton of great PF blogs to choose from out there.  Find a few you really like and subscribe to them!

You can also find these same PF bloggers on Twitter.  Check out Debt Hawk’s list of the top 100 Personal Finance Bloggers on Twitter.

2. Find Other Resources

There are some great news and personal finance sites like CNN Money and MSN’s Money Central that have have some really great resources.

3.  Accountability

This is an area that is too often overlooked.

Let’s face it – change is hard and reaching your goals takes work!

In order to correct past financial mistakes or simply change we need people rallying around us to help keep us motivated and accountable.

Find some close friends whom you can share your goals with and ask them to hold you accountable to those goals.

How Do You Plan to Get Off To a Great Start in 2010?

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