The new year is a time when any of us are resolving to change our behaviours for the better. You may be quitting smoking, joining a gym, or starting a new, healthier diet plan. Or, you may be taking a hard look at your finances, and deciding this is the year you get on track.

In my household, this year we are marginally increasing our RRSP contributions (every little bit helps) and as we both opened Tax-Free Savings Accounts late last year, we are resolving to contribute to those regularly too.

Also, as my husband’s job will have him away for most of the year, we are planning a mid-year reunion trip, somewhere overseas. So, beginning with my next paycheque, a portion will be set aside each pay period to fund that trip. All of this while continuing to keep our credit cards clear, pay off my student loans and pay the mortgage as fast as possible. No easy task, but I think we’re up for it.

If you haven’t made a financial resolution yet, consider:

• opening an RRSP
• opening a Tax-Free Savings Account (TSFA)
• increasing contributions to either an RRSP or TSFA
• paying down debt
• preparing a written financial plan
• reviewing your financial plan with an adviser
• researching each investment personally before making decisions
• enrolling in a personal finance course

Any other ideas? What are your financial resolutions for the new year?

Tagged as: financial goals, retirement planning

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