Many of us make New Year resolutions year after year, yet rarely do we stick to them. Good intensions aside, we often seem inclined to stick with the status quo rather than accept change into our lives. This year, consider making changes that will improve your financial well being. This article contains some suggestions to start you off.
I'll say it as clearly as I can: Leaving your money in current accounts that earn no interest, failing to sort out your debt, procrastinating over sorting out your savings ? these won't make you poor in the short term, but they'll sure make you financially flabby over the long term.
I know you lead a busy life, so here are five brief, no-brainer resolutions for 2007. Stick to them and you will find that your bank balance will be better off for it.
1. "I will sort out my credit cards" ? No time to mess around here ? you are simply throwing money away if you don't begin to clear debt now. Don't just pay out the minimum repayment each month, push to pay a bit more. ? Once you've decided on an amount, make sure you set up a direct debit. That way you avoid extra charges through late payment. ? And are all your balances on one card? Don't mess around by trying to juggle more than one, make it easy for yourself to manage. ? If your circumstances change and you experience financial pressure ? tell us, we may be able to reduce your minimum repayment levels or even suspend payments for a time.
2. "I will use my tax-free ISA allowance" ? The ISA, or Individual Savings Account, helps to shield your savings from the clutches of HM Revenue and Customs. Of course Gordon Brown would be happy if you did not use your annual allowance. ? Far better to put your money either in a cash ISA, or if you are happy to accept the risk of capital lost for greater growth potential, you may wish to consider a stocks and shares ISA. ? Anyone over 18 (16 for a cash ISA) can open one, and all the proceeds belong to you. You can use it to save for a nest egg for the future, or to supplement your retirement.
3. "I will review my buildings and contents insurance levels" ? When was the last time you bothered to shop around for cover? By reviewing your policy frequently, you can ensure that you are getting the best and most cost effective cover for your circumstances. ? Failing to update your insurance means that new items you've recently bought won't be covered by the policy. If you had to make a claim, this might mean you receive less than the cost price of the items ? and you might come into conflict with your insurers for underestimating the sum you needed to protect. They could in some circumstances even turn down the whole claim.
4. "I will consolidate my debt" ? A personal loan here, a car loan there, a couple of credit cards and a bank overdraft. Do you really know how much your debt is costing you? Thought not. ? Start by getting rid of the overdraft, especially if you didn't arrange it, because unauthorised borrowing is very expensive. Then think about paying off your cards. ? Find out whether you will incur a penalty for exiting your loan and credit agreements earlier than the full term.
5. "I will take out life protection" ? No-one likes thinking about the unexpected happening, which is why we're all so useless at writing a will and arranging life insurance. But neglecting to do so could leave your loved ones in a terrible mess should you die suddenly. ? If you pay a small sum each month to cover your life, it means that in the event of your death during the term of your policy, your spouse or dependants get a cash lump sum. It could mean the difference between them staying in the family home or being forced to move.
Organization is, for most people, one of those lofty goals that everyone has but few accomplish. If they do accomplish it, the order is maintained for no more than a day, if that, and in the blink of an eye, chaos has crept back in. You know it’s true. You’ve been trying to become organized for days, weeks, months, if you’re honest, years. However, it seems like something that may never happen, and you’re all but ready to give up. You don’t have to. Approaching organization from the right standpoint and with the right methods can easily eradicate the chaos in your life.
The first step is to approach organization with the right mind frame, and that means staying grounded in reality. You have to be reasonable about what you can and cannot accomplish and in what stretch of time you will be able to accomplish anything. The best way to do this is to remember that you didn’t spiral into your current level of disorganization all at once; it took time. So coming out of it will take time, as well. If you’re patient and don’t get too frustrated when order isn’t achieved immediately, you can have the organized home you’ve always dreamed of… in time.
Once you have a firm grasp on what is plausible, approach your house in stages. Don’t suddenly decide that you will start organizing, rip a little into every room in the house and then expect that the chaos will disappear. It won’t even be dented. Pick a room or a manageable corner, and even with that, approach it in stages. If you’ve picked the kitchen, start with the pantry, then the pots and pans, then the fridge and so on. Create small doable tasks and complete them. You’ll be more organized and feel better about yourself.
You also don’t want to forget the importance of the garbage bin. For every area you clean, something should end up in the trash - to figure out what, sort all of your items. If you don’t need something, get rid of it. If you haven’t used it in more than a year, get rid of it. If you’re only holding on to it because it reminds you of something (but you aren’t quite sure what), get rid of it. Purge, purge, purge. To create a clearly organized space in what was once a mass of clutter you have to get rid o some things, otherwise you’ll have well-arranged clutter, which leads to more chaos and a loss of organization.
Once you’ve got the items you want to keep back in place, create a system for maintaining your organization. This system will vary with person, depending on what methods work best for each individual. You want to find a way that will help you maintain a new behavior, which will enable you to maintain the new order. Think about steps you’ve taken before to help you modify your activities, and replicate that as near as you can.
If you do all this and find that you are still floundering about in the world of chaos, call a professional. There are actual people who LOVE to organize. They get paid to organize, and they’ll willingly not only organize your shelves, closets and lives, but also teach you how to do the same. It will be a real learning experience, one you’ll never forget, at least for the sake of the clutter.
Organization isn’t an impossible goal - it’s actually highly attainable. You only have to know how to approach the situation, maintain a level head and never give in to the clutter but itching to let papers pile, clothes crumble and lives disintegrate into chaos.
Both Katie Brown & Joe Cline are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Katie Brown has sinced written about articles on various topics from Mortgage Insurance, Auto Insurance and Finances. RBS provide a range of financial services including ranging from the classic credit cards to platinum credit cards with extremely competitive rates and an online f. Katie Brown's top article generates over 27100 views. to your Favourites.
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