Now that 2014 is finally upon us, our thoughts naturally turn to resolutions and goals for the year ahead. Many opt not to make resolutions as they are too easily broken. Instead, they may choose to reflect on the year gone by and learn from the mistakes or success they made during 2013. Whichever method you choose, it’s likely that you’ll be considering your finances now that Christmas has passed and the opportunity for a ‘fresh start’ has been presented to you.
There are many different ways to view your finances at the beginning of a new year – the most common being hopeful, terrified or determined. Here’s a breakdown of all three types. Which one are you?
A lucky few will be entering 2014 with a positive view on their finances. They may have some new job prospects or did well with managing their budget over Christmas. Maybe they were given money as a gift over the festive season or maybe the absence of red-topped bills reassures them that they’re not doing badly with their cash.
If you’re in this position then the worst thing you can do is to do nothing. You may think that your finances are under control and are fine, but it’s failing to keep an eye on them which causes problems down the line. Go over your budget carefully and try to identify areas where you’re likely to overspend throughout the year. Continue trying to make savings wherever you can, even if you have enough money to pay your bills. It’s also important to make sure you’re getting the best savings rates and deals when spending or saving your cash.
You could have had an awful 2013, financially speaking, and you’re entering 2014 with problem debts and bills that you can’t pay. Knowing that you’ve got money problems on the horizon can really put a downer on your New Year celebrations, so you may be sticking your head in the sand and hoping that it all sorts itself out.
The problem with money is that it can’t solve anything unless you take steps to help it along. If you’re feeling worried about your money situation then you need to take steps as soon as possible to put yourself in a more reassured position. Speak to a debt help charity if you’re not sure where to begin. Alternatively, there are many support forums online (Money Saving Expert is a particularly good one) which can help you to draw up a working budget and give you guidance about what to do.
No matter what your financial position, you could be starting the New Year on a determined note; determined to save more, spend less or improve your lot in life. It’s good to be proactive, but make sure that the goals you’re setting yourself are realistic and will last the test of time. Doing too much, too soon can do more harm than good, so ensure you plan before you go in all guns blazing.
This article has been written by guest author Coral Pearce-Mariner on behalf of Guarantor Loans Online.