A New Year, a Fresh Start

by Joel Sandwith on January 2, 2012

It’s become common for financial writers, credit counsellors, financial planners and bankruptcy professionals to write the same articles and blogs each year about making New Year’s Resolutions to better manage money.  You know why?  Because people keep overspending, underplanning and taking on more debt!  And what better time of year to change that than right at the start?

No one likes budgeting.  (Well, in honesty, I like budgeting, but that’s my line of work)  Here’s the thing, it has to be done.  It’s like brushing your teeth.  If you are anything like I was when I was a child, (and my boys are now), you considered brushing your teeth to be a chore, verging on a punishment.  As you grew it became more of a routine, then a habit, and now you can’t imagine going a day without brushing at least a couple of times.  If you can see the connection between brushing teeth and budgeting, then you can see that setting a budget and sticking to it can work.

Here’s the first tip, for this week.  Start tracking your spending.  Really, you’ve heard this before, because it’s good advice.  I don’t care how you do it, a notepad, an app on your phone, a spreadsheet, just start making note of every penny you spend.  Look at all of the bills that come in online or in the mail.  Really look at them, at the detail, the totals.  Spend the next few weeks being more aware of where your money goes.  That’s it for now, no more tips until you try it.

Next week, I’ll talk about making changes.

For now, if the debt you are dealing with has become overwhelming, give us a call either toll free at 1-866-747-0660 or locally at 519-435-1500 so that we can go over your options with you right away.



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