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Updated December 7th, 2016
Five financial resolutions for 2016, and how to (really) make them happen
Financial Post ~ December 29th, 2015
In the wake of a holiday season involving lots of eating and spending, it makes sense that our top New Year’s resolutions tend to focus on fitness and finances. Resolutions are a good first step, but without a specific plan, they can be hard to maintain for 12 months. With that in mind, here are five financial resolutions for 2016, and some tips to help you achieve them.
1. ‘I resolve to figure out my finances’
To make it stick, any resolutions you make need to be based in reality. Start by laying out the facts: Income, expenses, debt (both how much and what the interest is). Do you have investments? If so, where are they held?
“Before you can devise a plan based on your situation, you need to first find out what your situation is,” says Wade Stayzer, vice-president sales and service at Meridian, Ontario’s largest credit union. “Most people have no idea.”
If you’ve never gone through your finances or met with a financial adviser, make this the year you do.
Click here to read the full article.