Financial resolutions that will set you ahead in the coming twelve months
1.) Delete one present for your young kids, grandkids, nieces or nephews this holiday and substitute an RESP contribution.
2.) Use your tax refund to pay down your debts.
3.) Lock down a five-year fixed-rate mortgage where possible.
4.) Plan for higher interest rates in your household budgeting.
5.) Recognize that the housing market is weakening.
(Galit Rodan/The Globe and Mail)
6.) Stop basing your expectation on what’s going to happen in the stock markets in 2013 by looking backward.
7.) Get back into the stock market - Option 1: Take the money you’ve been hoarding in do-nothing cash and divide it into four sections that you will invest in early January, April, July and October.
8.) Get back into the stock market - Option 2: Invest your cash all at once.
9.) Commit to judging your investing success not by how you’re doing a few months from now, but where you are in 10 years.
(Tan Wei Ming/iStockphoto)
10.) Make saving money automatic: Put away as little as $10 per week - you won’t miss it.
11.) Buy a car, but finance it over five years at most.
12.) Ignore the bubbleheads - there is no bond or dividend bubble.