I don't know about you, but New Year's Resolutions have always been sort of a turn off for me. My aversion probably stems back to the fact that they were forced during grade school, and even at times in high school (write your resolutions in Spanish, for example). I've been off the resolution train for some time now, but am getting back on in 2008.
In the spirit of getting organized, we've crafted a handy Resolution Worksheet for you to keep track of all your financial goals for the new year.
Some of the goals like retirement savings are totally universal, while some of you may have specific career goals that you can jot down in the free space. As you accomplish the goals, you can check them off your list, which I think is one of life's little pleasures. I'll be checking in with you in a month to see how you're doing with your resolutions and feel free to share any of your goals in your comments below!
Max Mara
Polo Ralph Lauren
Benefit
i can't read anything on that declaration sheet, it's too small.
1Hi Allytta,
You can download the sheet by clicking where it says "Resolution Worksheet" in the body of the post.
Thanks!
Savvy
2Nice Sheet similar to something I started for myself mid 07 .. I got a head start.
3I disagree with recommending people max out their 401Ks first. Many people our age have more immediate saving needs, such as a first home. Roth IRAs allow first time home-buyers to take a certain amount out of their IRA without penalty. A 401K cannot offer the same option. Anyway, it's just a thought.
4Hi Hill82879-
You definitely have a point, but if your employer matches your 401k contributions you should at least contribute as much as they match. We'll be covering all types of retirement accounts in the following weeks.
Thanks for your comment!
Savvy
5This is great
6Some of this stuff down't really apply to me, but I will work towards the stuff that does
Ugh, these resolutions depress me so much. I'm a Ph.D student in oncology living off a tiny stipend in one of the most expensive cities.. if I break even for the month off of my rent, utility bills, and groceries, it's been a good month. Plus, I'm trying to pay for a wedding on top of it. I budget and track all my spending, but my savings account is getting smaller every month because it is just too expensive to live here! It's kind of depressing that even AFTER I have my Ph.D. after 6 years of work, I'll STILL be making less as a post-doc than I would working full time at Starbucks. What does it say about our nation that we pay more for someone to make our coffee than for someone with a Ph.D. to work towards a cure for cancer?
7Wow, thanks for the worksheet...I definately need to budget more this year. Would love to see some success stories on budgeting and getting out of debt (just had to start paying my student loans
). Also, let me know if you have any advice on kicking the shopping habit.
8I will certainly be able to put this worksheet to good use. I love being able to check things off, it makes me feel accomplished.
9Thank you for taking the time to make one of these.
10I'm a list-maker, so I definitely appreciate this!
11Great worksheet, I can't wait for future articles.
12I'll be downloading this.
13Great tips there, thank you!
14this is a great start! my resolution for the year is to make sure i always have my checkbook balanced. a few extra little resolutions won't hurt though...
15I do agree that you should take advantage of any match your employer offers on the 401k, but maxing out might be a bit much. You should open a Roth as soon as you're able; however, I would not advise anyone to borrow against their Roth.
You can find relatively generous interest rates on some savings accounts (not as high, perhaps, as an ROI from a Roth, but Rome wasn't built in a day) if you know where to look.
I tell people all the time that retirement is about the long haul. It can be hard to think about it that way when you need liquidity, but a well-researched savings account might help with those needs.
16I resolve to stop and smell the roses...
17Fabulous!
18great check-list, thank you!
19I'm a list-maker - so this is perfect!
20Just FYI usually 401K programs also allow a limited withdrawl with no penalties for first time home buyers! That's what I did.
21What a great list! Some of them don't apply to me yet, but a few of them are things I really need to work on, thanks so much!
22Time for me to get organized!
23So I have a question for anyone who has tried this or has noticed a difference on their electric bill. Are energy-efficient light bulbs really that much better? I have about half of the light bulbs in my house as the ee ones, only because I am not so sure about the actual benefits.
Can somebody please eplain!
24This is a great list. My main goal this year is to get my Bachelor's degree and budget more. But this list TRULY helps out!
25This is a great idea that young adults should use/learn as well.
26great idea ty!
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