Making 2010 a Great Year - How are you doing it?

It's a new year! Traditionally, this is a time to make new resolutions. What are you doing to make 2010 a better year financially for you, your family and your business? Here are some ideas to get you started and keep you on track:

Write down what is important to you and your goals. Consider your family, religious, community, business and personal goals. List your goals for this year and the future. Next, put them in order of importance to you. Finally, write down how much money you need to achieve each goal. Congratulations, you have the start of a financial plan! Use this to decide where you will spend your time, efforts and money.

Pay yourself first! Most people need to save money to achieve their goals. A good target is 10% of your income. If it is difficult to save that much, start small and increase it in three months. The key is to make it a habit to save every week. Get started now by putting it in a separate account on the First Day of the week! Even a few dollars a week makes a difference.

Protect yourself. Build up an emergency fund for unusual expenses. Having extra cash available, in a special emergency account, helps keep you out of debt. Take some of your weekly savings and put it here until you have enough to cover 6 months of basic family living expenses.

Pay down your debts. Pay off your credit card or highest interest debt first and pay cash. This frees up money so you can achieve your important dreams - a home, education, wedding, building your business...

Get help. Find someone you trust and ask them to keep you on track. Not sure how to invest your savings? Confused by all the different financial services and products available? Check out the Financial Planning association (www.fpnet.org), Certified Financial Planner board (www.cfp.net), Garret Planning Network (www.GarrettPlanningNetwork.com) and National Association of Personal Financial Advisors (www.NAPFA.org) for lists of questions to ask potential advisors.

What ideas do you have?

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