The Best New Year Resolutions For Your Money

The Best New Year Resolutions For Your Money
Underwater by Julian Cohen. Why?

In January 2017, the Financial Times asked 28 of its columnists, investors and personal finance experts to share their New Year Resolutions which are summarised below.

Despite Two Challenging Political And Financial Years Since They Were Published, The New Year Resolutions Suggested Then Are Just As Relevant Now

28 New Year Resolutions For Your Money

You can read the full detail on each New Year Resolution by clicking the link at the bottom of this article.

Enjoy!


Splash Out On A Hot Tub: Spend more money.


Consider Cashing In Your Final Salary Pension: I have done so.

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Get A Transfer Valuation: We may never see such good transfer values again.

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Invest Less Like A Numpty: The only asset class I vaguely know about - UK companies.


End Your Hoarding Habits: There are two ways to be richer.  Increase your income or cut your expenses.


Don’t Get Hung Up On Predictions: Ignore commentators and “analysts” who publish views on macro events.


Find Out If Your Pension Is In A Default Fund: Make it your resolution to find out what is included and what’s not.


Limit Your Bond Exposure: Investors should resolve to be wary of bonds.


Consider Remortgaging: There may not be a better time to cast an eye over the health of your home loan.


Organise A Lasting Power Of Attorney: It is not only the elderly who should think about putting their affairs in order. 

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Learn How To Use A Stop Loss: I have long believed that the key to successful investment is the avoidance of losses.


Take A Punt On A Property In Europe: The property could be regarded as a long-term savings plan.


Donate Your Spare Change: Foreign coins and notes lurking in my desk are unlikely to get spent any time soon.


Spoil Your Grandchildren: I’ll redo all of my estate planning documents.

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Resolve To Shop Around: I am going to use the internet to compare shop prices more.

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Start A Lifetime ISA: April’s new Lifetime Isa for the under-40s is well worth considering.


Cut Your Inheritance Tax Bill: Transfer the ownership of my house into joint names with my wife to take advantage of the new main residence nil-rate band.

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Take The 10 Per Cent Charity Challenge: Increase donations to my Charitable Aid Foundation Account to 10 per cent of my annual income.


Sort Our Your Savings: Move my long term savings out of the low interest rate accounts they have slipped into.


Control Your Spending: I’ll be unsubscribing from every marketing email I get.


If You Get Divorced, Do It With Dignity: Deal with the emotional fall out at their own pace if there isn’t an urgent need to proceed.


Get A Financial Adviser: I think it’s time I actually got some expert advice.

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Prepare For A Rate Rise: It makes sense to reduce any debts you may have by as much as you can.


Think About Extending Your Lease: Even if you are not planning to sell your flat in the immediate future, you should not delay.


Make A Financial Plan: Clear goals and a plan can offer peace of mind and open up exciting opportunities.


Get A Promotion And A Pay Rise: You need to take a deep breath and ask.


Get Started As An Investor: I want to make my money work as hard as possible.


Be Ready For Uncertainty: Review the implications of political uncertainty on my long-term financial planning.


To discover which well known names made these New Year Resolutions and to read the detail behind each one, click this New Year Resolutions link.

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