Resolve to Improve Your Finances

Happy New Year!

Can you believe that it is already 2005? I can remember when I was in third grade and we would figure out how old we would be when the year 2000 came. Now I'm five years older than that! It's that time of year when we make those New Year's resolutions that we don't keep. According to a recent poll, the top 10 resolutions this year are:

10. Be more spiritual
09. Get out of debt
08. Be more organized
07. Spend less time on the internet
06. Spend more time with the family
05. Be a better person
04. Quit drinking
03. Quit smoking
02. Exercise
01. Lose weight

For some reason, most of us are still not too concerned with the state of our financial lives, although we need to be (getting out of debt only rated number 9 on the top 10 list).

According to a poll conducted by the Wall Street Journal, 70% of Americans have less than one paycheck set aside. And, according to the Marist Institute, 55% of Americans worry about money. So we have concluded the following:

If 70% of Americans are broke and only 55% are worried about it - it must mean the other 15% are a few fries short of a happy meal; a few peas short of a casserole; a card short of a full deck, you get the point.

Did you notice that none of the top 10 resolutions included keeping our resolutions? Let's make a resolution to keep our resolutions. What good is a resolution if we don't keep it? Here is a financial resolution list (in no particular order) that is sure to enhance your financial life:

1. Live on a budget
2. Get out of debt
3. Begin (or continue) a savings program
4. Give and then give some more
5. Stop fighting with your spouse about money

If you want to keep these resolutions, write them down. Unwritten goals are just a wish and goals without a deadline are merely a philosophical statement.

Treasure Coast Financial has tools on our website to help you with some of these things. Simply go to www.tcfin.com and click on the "tools" section. We have a budget worksheet and debt elimination worksheet that you can use right at your computer.

Blessings to you in the New Year.


Steve Scalici is the CEO of Treasure Coast Financial, a financial planning firm in Stuart, FL.  He is co-host of God's Money which can be heard weekdays at www.oneplace.com. He can also be reached at his website www.tcfin.com.