Read this one through the lens of someone who didn’t see the layoff train coming. I got laid off 1/2 way through the year, but I didn’t see it coming.
Yes, the new Year has begun, and naturally, I procrastinated and am now a day behind. Oh well.
I didn’t procrastinate regarding this site. I am working on my new project. I forgot to post here, so my apologies.
Start Your Year Out Right
How can you do that on the Personal Finance side of things? Make sure your previous year is closed off and paid off. If you haven’t, then it’s time to figure out how to deal with residual debts from 2007. I don’t mean your mortgage, but I do mean Credit debt. Now is the time to make a financial plan. Remember without a plan how can you tell how you are doing?
Simple Financial Plan for 2008
Here is a simple skeleton plan for you to work from:
- We will put our maximum amount in our RRSP for this year.
- We will put $3000 in each child's RESP (or as much as we can).
- We will pay off all credit card debt and will put together a plan to pay off all residual debt (lines of credit etc.,) in three years.
- We will save $N for a vacation fund (yes, I believe in vacations, I just never go on them).
- We will pay down $M on our Mortgage. M is greater than the minimum amount for the year. Alternatively, we will save that amount for the down payment on buying our house.
- We will pay off our Car Loan quicker than our creditors want.
- Figure out how much we spent at Christmas and start saving a Christmas fund for this year.
Simple little plan, take it, expand it, remove parts but build from it too. Keep track of how you are doing and you should be many miles ahead on December 31 2008.
All Those Happy New Years
Yes, for many years I have wished you a Happy New Year
- Happy New Year 2025 May this New Year find you safe and happy. 2024 was a year to remember for its turmoil, but find a way to make 2025 a better one. It’s time to get back to the gym and plan on staying out of debt. Enjoy the coming year! #Debt #NewYear #Resolution
- Happy New Year 2024! What will the year 2024 bring? Let's hope it is a Happy New Year, but there is potential for a great deal of upheaval in the coming year. #NewYear #Happy2024
- Happy New Year 2022 and #MoneyTalk recapped a lot of 2021 and hoped that 2022 was going to bring some hope.
- A happy new year for 2021 ? Well it started pretty grotty, but it might get better.
- I must have had an inkling about 2020, as I didn't wish you a Happy New Year to start things. Hopefully with this post I have helped make the year better?
- In 2019 I was too practical with Tangible Financial New Years Resolutions but still worthwhile thinking about it, eh?
- For Happy New Year 2018 I had a great photo of being stuck on the 401 during a snowstorm, and links to previous New Year Messages.
- 2017 I pointed out that you start paying CPP and EI again, so your net pay is going to be lower.
- 2016 Happy New Year, just didn't happen, not sure why, must have been having a grinchy holiday?
- 2015 Happy New Year and I included a really bad joke about it being the year of the RAM in the Chinese Calendar.
- 2014 Happy New Year again I pointed out that CPP and EI rates were increasing as well, I really am a kill joy.
- 2013 was a Happy New Year, a celebratory Sunday was the photo to start the year.
- 2012 I used to post best of Twitter posts, and it seems to have fallen on a Sunday as well.
- Merry New Year! It All Starts again was how 2011 started, and I included a bunch of resolutions in that article.
- 2010 New Year began with me in a new job, which was very nice, given I had been unemployed for a while.
- 2009 started a little bleak, in that I was unemployed, and was looking for a job, during a major economic crisis.
- Belated Happy and Prosperous New Year was how 2008 started, the economy was booming, employment was high, but there were hints of the systemic failure that was coming soon.
- Good Bye 2008, outlined the eventful year that it was for me. Things got better, but a lot didn't go right that year.
- A New Year Brings Tax Breaks? The tax breaks appeared in 2007 but later disappeared, unfortunately.
- Happy 2007 a quieter year, we hoped.
- 2006 I was still figuring out what this whole thing would be, but I showed signs of a ranting good time.