Hello readers. I took an extended holiday this year, and so my New Year post is delayed somewhat. You’ve likely made your super smart financial resolutions by now, haven’t you. Who is reducing debt? Anyone increasing their RRSP contributions? Personally, this is the year I revisit budgeting. My husband and I set a strict budget a number of years ago, shortly after buying our house. It worked really well. But then I got a new job, with a nice raise. And then he got a promotion. Suddenly we were justifying extra expenses “just this one time” pretty much every second day. The budget was completely forgotten within six months. We got away with it, as there was extra income. Looking back though – we’d be in a much better position right now if we’d chanelled that income into paying down the mortgage or building an emergency fund. Then last summer, we did a major renovation on our house. The mortgage went up, the line of credit was nearly maxed. Suddenly, I found myself searching the computer archives for the old budget spreadsheet. The house looks amazing, and is far more efficient and thus costs less to heat. Both positive outcomes. But it didn’t come cheap, and we want to get the new debt under control as quickly as possible. So it is back to weekly allowances and strict accounting of all receipts. Wish me luck! Looking to build your own budget for 2012 – I downloaded Gail Vaz-Oxlade’s interactive budget worksheet (an excel spreadsheet). Looking for more great articles and tips for getting your finances in order this year? Check these out: 5 New year’s Resolutions that are Good for Your Wallet from Balance Junkie. 5 Requirements for a Successful Spending Plan from Financial Highway. Start 2012 off Right from Beating Broke. Helping You with Your Financial Resolutions from the Retire Happy Blog. Happy New Year! Update: Last year, I shared my resolution to pay off the portion of my student loan incurred gaining my Investment Management Diploma. I am happy to report that not only did I achieve this, but I also paid off my Nova Scotia Student Loan as well! Related posts:Starting the year off right – with a realistic budget Monday we talked about various financial resolutions you might make,…Avoiding Student Debt Last post discussed the use of the Canada Education Savings…Getting out of debt In the current recession, how to get out of debt…Financial New Year’s Resolutions The new year is a time when any of us…Five Tips for Controlling and Enjoying Your Holiday Spending It’s the 8th of December and my holiday shopping is…Tagged as: budget, financial goals, links, resolutions Share & Bookmark This Story! Bookmark on Delicious StumbleUpon Google BookmarksTip’d
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