This year...I'm going to keep on doing what we've been doing for years! Living frugally, enjoying our saved-up-for splurges (especially the DisneyWorld trip we're planning!), and keep the unnecessary spending in check. Still working on padding the emergency fund and saving for things in the future.
Ask the Readers: What Are Your Financial Resolutions for 2012?
Photo: Images Money
Editor's Note: Congratulations to B, cwaltz, and Lynda for winning this week's contest!
With the New Year comes a chance to make new resolutions. From going on a diet to spending more time with family to landing your dream are, chances are you’ve made at least one resolution for 2012. Hopefully one of your resolutions was a financial one!
What are your financial resolutions for 2012? Saving more money/? Paying off your debt? Or being more frugal in your day-to-day life?
Tell us about your 2012 financial resolutions and we'll enter you in a drawing to win a $20 Amazon Gift Card!
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My financial resolution is to pay off my 0% interest credit card before it has any interest! I'm working hard to try and get there!
My 2012 financial resolution is to be 100% credit card debt free. I also want to start saving more money each month to create an emergency account.
I'm doing something like BofA's "keep the change" program, and putting a way a tiny bit every day to balance my account to end in .00. It's not much, but it's something more than before.
I resolve to spend less money on new books. My neighborhood Borders closed, but Amazon is a big temptation. I will wait for ebay bargains for any must-haves.
Get the heck out of Maryland before it's time to tap my IRA, to avoid the 8% state + local income tax. And no, there is no corresponding lower real estate or sales (6%, 9% on alcohol) tax.
I've often set savings goals, but after creating the goals never put the requisite effort into fully accomplishing them. This year, I resolve to exercise more diligence in saving with a special focus on retirement. I've gotten started by setting up automatic payroll deposits into a savings account that's not accessible on a whim. In three months, I will reassess my budget and open a Roth IRA to complement my TSP.
I resolve to be more aware of my spending habits and focus more on saving. Maybe if I do it well enough, I can work a family trip into the budget!
Seeing as the only debt I have is my car loan, my financial plans for this next year is to save as much money as possible for a down payment on a house. I have enough now to feel comfortable but more is always nice!
I am being more frugal and hopefully environmentally friendly in my day to day life. I am making everything I can from home like shampoo, bath salts, dishwasher and laundry soap. I switched to cloth diapers and wipes and started making my own baby food. I am eating out less and cooking more meals at home with less convenience foods. I am planning a vacation, and these savings are going to make it happen.
A big financial goal for me is to not spend money while at work, reducing unnecessary snacking is an added benefit! My husband and I are both working on spending less and saving more, it is reassuring to have someone else counting on you and keeping you in line with your goals.
Our financial resolution for 2011 is for my fiance and I to save $10,000 towards a house we want to eventually purchase in 2-3 years.
My first financial resolution for this year is to set up an automatic savings withdrawal from my checking account into my ING savings. Second is to reduce (hopefully STOP) recreational shopping for the first quarter of the year. Hopefully this will become a new habit...
My financial New Years resolution is to make enough freelance writing income to subsist on that side income for my grad school loan payments.
Pay $15 extra on my car loan each month and continue saving a portion of each paycheck to make a large sum payment on my student loans.
I'm going to set aside my "little" savings (such as coupon and rebate money) so build into big savings.
I'm going to set aside my "little" savings (such as coupon and rebate money) so build into big savings.
There's a certain amount in savings I'm hoping to hit. Barring theft or disaster, I think I'm definitely on track.
This year, I'm going to duplicate my consulting business income with other sources of revenue. I want to diversify my income, and create some "paid time off". :)
Now that my involuntary divorce is done, the dust has settled, and the holidays are over, find my financial sweetspot as a single parent; pay the lawyer, pay the child support, get ready for college because I know I'll be the only parent chipping in, and otherwise figure out how to enjoy myself as well.
Financial Resolutions: Build a larger emergency fund, pay an extra $1200 to student loans, buy a second car with cash. Bring it, 2012!
Fourth financial resolution tweeted! https://twitter.com/#!/lilmsmoneybags/status/154281545585278976
Our biggest goal is to have monthly financial meetings together. Previously, my husband and I discussed big expenses but I handled the day-to-day and monthly budget on my own. We're both in this together and now we're both discussing $ matters together.
My goal this year is to get my car paid off - at the very least paid WAY down. I will keep that forefront in my mind so as not to get distracted by projects around the house!
Having just finished Christmas 2011, my resolution is to spend less on Christmas 2012! I have already bought several things at 75% off this week that are going into a box for next Christmas, as well as craft supplies to make a few homespun things. I'm looking forward to seeing how much I can save!
My financial resolution is to save as much money as I can and put the money I save into being charitable.
This year my financial goals will be geared towards continuing to pay down debt. Several bills will be cleared in a few months so the amounts paid onto them can roll over to pay other debts. I'll continue making the best use of my resources through frugal living and creative ideas.
This year I'm going to finish paying off my credit card debt and contribute 15% to my 401k by the end of the year!
We've been debt-free for almost 2 years, so this year we want to be able to give more than we spend on ourselves (excluding re-curring bills such as phone/gas/electric, etc) as well as sink 50% of our total household income (one of us sinks our entire year's pay). This will position us for cash purchase of a retirement home in 36 months.
We are also designing our organic gardens in a way to re-purpose/re-use scrap materials and wood pulled from dead trees on our property for vertical and raised level plots and potagers. Approx 30% of our seeds are saved from 2011. 2012, we want to save 90% and be able to begin sharing with others. This will save us approx $600 annually and we can pass along the savings.
I'm going to eat out a lot less and hold off making any big purchases, let myself "cool off" before I pull the trigger.
I like you on FB and I'm tweeting from @jacklope now too
We are planning on starting our retirement funds, and trying to get to a place where our money is working for us a bit better. We are also hoping to transfer our money to a credit union, where we feel it will be safer and better used.
My financial resolutions this year are no different than my resolutions last year: to be cautious and frugal so as to be able to get by. At some point, I'd really love to start an emergency fund.
3 Main things:
Go to Grad School
Start saving towards a 3-6 month emergency Fund
Look into funding a House.
We made our goal of being debt free last year. This year I would like to continue to stick to my budget, find a job (unemployed, still!) and save more.
This year I am going to eliminate all credit card debt and begin rebuilding my savings account. I also plan to drum up enough freelance work to pay for my monthly 2# of coffee (this is a modest goal).
I am saving $1000 a month to put toward buying a house. It has not been easy but I know it will be worth it!
In 2012, I need to get a better handle on the monthly financial leakage I've seen over the past few months. There's always at least one category where I'm over budget each month. One month it's groceries, another it's entertainment due to some one-time program for the kids, one month it's car repairs. If I could stop the small one-off leaks, I could probably save $5000 or more this year.
Our 2012 financial goal is to cut our debt in half and lower our weekly grocery bill by 25%, using that to increase our savings.
Our 2012 goal is to cut our debt in half, as well as cut our weekly grocery bill by 25% and use that to add to our savings.
I have also liked your page on Facebook.
Continue our amazing progress from last year. This year we will focus on a home down payment and saving for my impending student loans. I'm hoping to end the year by finding a great job.
I did a post about it, but this is the gist of it:
Pay off $10K in debt, tithe each and every paycheck, get rid of timeshare, reread Total Money Makeover (for motivation) and cut up my one despised credit card.
Thanks!
This year I will NOT use a credit card for any non-emergency purchases so as not to incur any more debt while I pay down my existing balance. I also want to add to my savings.
Last quarter, I had a string of careless mishaps that caused me to buy replacements for items I broke or lost. I'm usually not that careless and these items weren't expensive to replace, but still. My financial resolution for 2012 is to be more mindful of my things so they can last and/or not get lost or damaged.
My goal is to pay off debt - I can only do that if I am frugal and also get a little job somewhere making some money to pay off the debt faster... at least that is my plan.
My resolution is to save another $600 on our only income, unemployment insurance, if my husband or I don't find a job. If one of us do, then I want to save even more.
My financial resolution is to save money on healthy and organic produce by going to the farmer's market and having a garden of my own.
I "liked" you guys on Facebook ages ago. :) I "liked" the link to this article and left a comment on your page.
Tweeted my answer for my third entry: https://twitter.com/#!/grigorylukin/status/154834093434085376
Thanks a lot! :^D
I have a business goal and a personal goal:
For business my goal is to restucture my billing to better cover my costs.
For personal my goal is to (finally) establish an emergency fund.
I've decided to eliminate SODA and opt for more WATER this year. I know it will not only be cost-saving but also healthier for me.
My first financial goal is to pay off all medical bills in 2012. After that is accomplished, I will make another one (probably putting extra money toward student loans or something).
My financial resolution is to be more mindful of my spending. Not just spend to fit in, but to make sure my discretionary money is going to things that will actually make me happy or improve my life.
I think this year my financial goal is to see a higher ROI on the money I put into my photography and videography business this year. I am just getting started with higher end equipment so it was quite nerve-wracking. I also need to become more frugal with my online shopping habits...
Liked your FB page!
