Financial Resolutions Basics

Photo by Pixabay on Pexels.com

I thought I would take a break from SEO for a while as I am carrying out a lot more research. I just spent some time over the weekend reading about optimising WordPress for SEO. Wow it got really techie! So I am saving those posts until I have a better understanding of plugins etc.

I started this blog with the aim of sharing my learning – after all I am a Teacher – and so I decided to go back to basics about Finance. We all want to develop online in order to gain an Income.

Am I right?

We have been through a quite tough couple of years, not to mention decade, most especially when it comes to financial matters. With this New Year, most people from the different parts of the globe, regardless of what status they may have, are now looking for the most effective ways in order to be financially stable. The Pandemic has made things so much tougher. And for those of us in the UK dealing with the shot in the foot called Brexit, things are even tougher.

Yet, you should definitely try to maintain your pledge about your financial New Year’s resolutions.

There are actually quite a lot of factors for you to consider, but just so you know, achieving what you have set out to do is all about passion, dedication, and real efforts.

The Basics

With every New Year, people are all at the very beginning of their most intended resolutions. People are all trying to join the gym, eat healthier, give up alcohol, so on and so forth. Perhaps, now is also the perfect time to begin thinking about your financial overhaul, right?

By finance, we mean products such as personal loans, credit cards, or maybe an overdraft, or any forms of finances that potentially mean that you are in debt.

For your financial resolution to work, there are three essential qualities that you should take into careful consideration. These are the basics that you need to take into account.

First, it should be simple.

Photo by Polina Zimmerman on Pexels.com

It your resolution is too complicated, chance is it won’t actually happen. Thus, if you really want to maintain that resolution all year out or maybe for the next years to come, you should make it simple to make it attainable.

Second, you should also be specific about your financial resolution.

Remember, vague resolutions are literally useless. It is essential that you choose or set specific resolution. For instance, it you intend to lessen your debt, you need to set a quantifiable realistic amount as well as an effective time frame. If you push your limit or try too much, chance is it won’t happen. It is better to list 1 thing right, than to have a long list of 10 things that you can’t do or won’t do.

Third, automated financial resolution is the key.

You are living in a hectic and busy world. So the most effective way to ensure that all things get well done is for you to make them your priority.  And the best way for you to make them your long term priority would be to essentially automate it.

These three basic factors can be the key to maintaining your pledge to fix your finances. Some years ago I had a series of credit card debt and a few loans from friends and family. I focused on clearing the small debts first while still being crippled by credit card debt. However once that was done it was really uplifting. When I was down to just one large credit card debt I hit it big time! All my former payments could be channeled into just one and it was gone. Ok we are talking about 18 months to do it, but I have been debt free ever since.

For many people, New Year’s resolution basically involves common aspects like fitness and health, but there are also other people who try to have some changes in order to improve their own financial health and status. Well, you should be one of them too. You know how rewarding it is to be financially stable.

Why wait for a New Year’s resolution?

Why not a Today Resolution?

As Nike always say – Just Do It!

Rise every day like a Phoenix from the ashes

Published by Phoenix

I have been a teacher all my life. That doesn't just mean in School! I taught my brothers to ride bikes and go camping in the mountains. I taught Football, Cricket, Squash, Sailing, Climbing and Karate. In BNI I became the Education Coordinator. With my Property Business I laid on Investment Seminars. I taught my sons to Fish for Carp. And I still teach Maths and Physics to students who want to go to University to study Medicine or Engineering. Now I am teaching people the things I am learning online.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: