As New Year’s Eve looms, people scramble to fit a few more events into the remainder of the dying year and begin making plans for next year. It is the season of New Year’s resolutions. If I’m honest, I’ve never been much for New Year’s resolutions. It seems that most people never end up keeping them anyway, and they often consist of wishful thinking and empty promises. But it doesn’t really have to be that way.
There’s nothing actually wrong with making a New Year’s resolution, and in many cases it could actually be a good thing. My cynicism comes from the past failures I have witnessed, but failure to keep resolutions does not make them illegitimate. So maybe instead of being cynical and pessimistic, or just plain lazy, this is the year to set realistic and responsible goals and then stick to them. Here are a few goals for being more responsible with your money for the coming year.
Save More Money
This is definitely not a very exciting resolution. Saving money takes restraint, patience, willpower and commitment. It can be hard not to touch your money when you know it’s sitting there just waiting to be used. Thinking too much in the present can make it hard to look towards the future.
Spending money comes naturally to most of us. We love things, and what is money for if not to buy stuff? There is a certain amount of truth to that statement, but saving money is about planning for tomorrow instead of blindly thinking only of today. It is perfectly fine to buy things, but it should be done with restraint. Having some wealth stored up for later on can make your life easier and more comfortable in the future. It can provide safety for unforeseen accidents or maybe even help you retire early.
Make Wise Investments
Making investments can also be seen as a way of saving money. One way to save in this way is to invest in gold or silver. Buying precious metals is a way to save money for the future that can offer a better store of value than just stashing your cash under the bed. Keeping your money stored in gold or silver will also keep you from recklessly spending it. It’s not like you can just get up and go to Walmart to purchase some toilet paper with a silver round.
Of course, there are many other ways to invest that actually offer you the chance to make a decent amount of money. That said, investing for profit is not for everybody. It takes a lot of know-how and can be big risk. If you are going to get into investing, you should do lots of research and make sure you really know what you are doing before making any decisions. As you know, many companies will offer their employees 401K or stock options. These are more accessible ways via which the average person can get a foot into the investing door.
These points are all pretty general, but I guess in the end it’s up to you to come up with the specifics. These may not be sexy resolutions, like losing ten pounds. And in fact, you might need to commit to these things for more than just a single year to see a real payoff, but they are goals worth setting. Making a commitment to wisely save money and make good investments should be at the top of everyone’s list with the start of each year.