University of Missouri Extension

5 Financial New Year’s Resolutions

Wouldn’t it be wonderful if we never had to worry about money? Unfortunately, finances are a part of everyone’s daily life. But you can improve yours by acting on even one of the following ideas.

Teach your children the value of money. Help them make a budget and stick to it.

Review your monthly expenses. Don’t simply pay the bills, see what you can do to cut down on them.

Know your net worth. Your net worth should go up by at least the rate of inflation each year.

Double-check beneficiaries. Make sure that all the benificiaries named in your will, insurance policies, and so on are people you are comfortable with.

Resist the compulsion to sell stock. If it was good stock when you bought it, it’s almost always best to keep it.

If you would like more information on how you can improve your financial situation, contact your local extension center.

RESOURCE: Family Money, Winter 1998/99, p 22

                 

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