Financial Resolution 6: Make Money Doing What You LoveMost people can name at least one thing they are truly passionate about. One of the ways to enjoy your work is to only do the things you enjoy. Find a way to turn your passions and hobbies into profit. The world is full of amazing jobs such as full-time ice cream tasters and video game testers!
Financial Resolution 7: Collect Your ChangeAny time you make purchases with cash, only spend whole dollar amounts. If you go to the grocery store and your ticket comes to $67.39, pay $70 in cash and pocket the change. The first thing you should do when you go home is throw the money in a large container (empty water jugs are perfect.) If you adhere to this policy and don’t spend any of the change, you are likely to save several thousand dollars over the course of a year. Use the money to pay down debt, buy stocks and bonds, or go on vacation.
Financial Resolution 8: Give MoneyI’ve said this before and I’ll say it again: one of the most effective ways to realize the value of money is to give it. The next time you get your paycheck, take 5% of your salary in cash (the greenbacks in your pocket will make it seem far more real than if you simply wrote a check or used a debit card). Walk into a Starbucks and anonymously pay for the other customers in line. If you pass a child in Wal-Mart staring at a new video game, take out your wallet and buy it for them. In both cases, the recipients are sure to remember your kindness for years to come. It is a powerful and effective way to change other people’s lives for the better while giving you a better sense of freedom financially. Suddenly, you realize just how much promise $20 contains.
Financial Resolution 9: Begin Using Personal Finance SoftwareKnowledge is power. If I asked ten people on the street how much they spent last year on books or movie tickets, nine of them probably couldn’t answer. With a few keystrokes, however, someone using personal finance software such as Microsoft Money or Quicken can find out. Personally, I print a report at the end of every December and spend an evening studying and going over my income and expenditures for the year. I’m often surprised at the amount I spend on small items such as ATM bank fees and cappuccino.