January 4, 2010, 8:16 am

The Carnival of Personal Finance #238 – 5 Tricks To Keep Your Resolutions For The Year Edition

by: The Financial Blogger    Category: Reviews
email this postEmail This Post Print This PostPrint This Post Post a CommentPost a Comment

The year 2009 is already over! Now that our belly is all stuffed with turkeys and sweets, it is time to get some resolutions for 2010! After hitting a 6 figure income in 2009, I am now looking towards increasing my net worth and improving my online company revenues. However, I am not a big believer in wishful thinking and visualization. If “The Secret” has done some magic for you, good for you. I prefer to be more methodical in order to achieve my goals ;-) So along with the best entries from the carnival of personal finance, I will suggest you a few of my tricks to keep your resolutions throughout the year!

KISS: Keep it SMART Stupid!

The very first trick to achieve your goal is to set them according to the SMART method.  Therefore, your goals must be:

- Specific – Editor’s Picks

You must write your goal on a piece of paper and be very clear about what you want to achieve. Being specific is the key if you don’t want to lose yourself in a sea of possibilities. Start with small things, it will easier to achieve your goals. Here are my editor’s picks:

.

- Intelligent Speculator presents his 2010 stock picks. He won our stock picking contest among 9 Bloggers with a spectacular 81.55% return in 2009. you might want to look at his 2010 stock picks before you make your own choice ;-)

.

- Vh from Funny about Money presents Happy New Year! What Are Your Goals?.

The Funniest thing about this post is that I have decided my theme way before reading then entries. Funny About Money uses the SMART techniques to set up her goals!!

.

- Craig Ford from Money Help For Christians presents How To Get Motivated To Manage Your Money, and says, “With so many new resolutions sometimes we just need a little push helping us to get the motivation to start managing our money.”

.

- Silicon Valley Blogger from The Digerati Life presents Use A Debt Consolidation Calculator, See How To Erase Debt Faster, and says, “I illustrate how much you can save (or not) through debt consolidation, using a debt pay off calculator.”

A lengthy and well documented case study about erasing debts.

- Measurable – Investing

Set a few metrics around your goal to make sure you can assess that you have attempted your goal. For your investing portfolio, you should establish metrics such as asset allocation (percentage), amount to be invested per month (systematic investment) and expected yield (much harder to attain ;-)). Here are some great investments related articles:

.

- Dividend Growth Investor from Dividend Growth Investor presents Capital gains for dividend investors, and says, “While dividends have produced about 40% of average annual returns each year over the past 8 decades, capital gains are important as well. If investors believe that the company’s performance over time would improve, they would bid up the stock price. While the dividend payment would have increased roughly at the same rate as the growth in stock prices, the current yield could be unchanged. ”

.

- D4L from Dividends Value presents Seven Stocks Expected to Grow Their Dividends in 2010, and says, “As the year draws to a close there were very few companies of note increasing their dividends this week. With that, I thought it would be interesting to see who might be the big dividend raisers in 2010. Here are seven companies for your consideration:”

.

- Mike Piper from The Oblivious Investor presents What’s the Purpose of Diversification?, and says, “There appear to be two conflicting definitions of “diversification.” Depending upon who you ask, a Wilshire 5000 index fund may be as diversified as you can get, or it may not be diversified at all.”

.

- Paul Williams from Provident Planning presents Free Portfolio Rebalancing Calculator!, and says, “Use this free calculator to quickly rebalance your portfolio to your target asset allocation without having to do all the math.”

.

- Bret from Hope to Prosper presents Hopeful Predictions for 2010, and says, “Financial predictions for 2010, with some facts to back them up.”

.

- DR from Doughroller presents Comparison of TIPS and Series I Savings Bonds, and says, “When you think of inflation protected bonds, you probably think of TIPS. But did you know that I Bonds are also adjusted for inflation?”

.

- Helen from Science and Money presents Required Minimum Distributions vs. Roth, and says, “The taxman cometh when you turn 70 1/2, and he taketh away the taxes on your IRA through required minimum distributions. In this post I investigate whether it’s useful to accelerate RMD’s by converting your IRA to a Roth. (Plot spoiler: No, it isn’t.)”

.

- Matt Jabs from Debt Free Adventure presents Traditional IRA and Roth IRA Contribution Limits, and says, “Continually updated information on Roth IRA contribution limits and Traditional IRA contribution limits for each subsequent tax and contribution year.Now that you know how much and when to contribute, now you should focus on where to house your IRA.”

.

-Clarence Haynes from Personal Finance Analyst presents Calculating 401(k) Early Withdrawal Fees, Look Before You Leap… .

- AttainableMoney Management

While an easy goal won’t push your limits, unrealistic goals won’t do any good on your motivation. You need to look at setting a fair challenge. Learning how to manage your money through a budget could be a very interesting goal for 2010. Here are the articles about money management:

.

- J. Money from Budgets Are Sexy presents Do you have money left over each month?, and says, “The whole point of budgeting, besides sharpening your math skills & getting an A+ from yours truly, is to figure out how much “extra” you’re playing with every month. When all your bills are paid, how much do you have left over?”

.

- Sean from Growing Money presents Holiday Tipping.

.

- Jason from Live Real, Now presents How have you improved your situation today?.

.

- FMF from Free Money Finance presents Marriage and Wealth, and says, “Is it just a coincidence that married people have higher net worths?”

.

- CPF from Christian Finances presents Tax Tips for the end of the year!, and says, “These are some tips for the end of the year to get your taxes in order… ”

.

- J.D. Roth from Get Rich Slowly presents It’s More Important to Be Happy Than to Be Rich, and says, “True happiness comes when you learn to be content with what you have. If you don’t take the time to figure out what Enough means to you, you’ll always be unhappy with your financial situation. ”

.

- SS4BC from Small Steps for Big Change presents Things I Wish I Had Known As A Graduate Student.

.

- B Simple from Simple Financial Lifestyle presents How Does Your Personal Financial Budget Fit?.

.

- Dana from Not Made of Money presents Five Good Financial Habits to Start in the New Year.

.

- ElizabethG (Modern Gal) from Modern Gal presents A Fresh Financial Start.

- Relevant – Frugality and Debt Management

While increasing your net worth is a good resolution, you may want to concentrate your effort on paying down your debts first. This will more relevant and you will probably increase your net worth in the end anyway ;-)

.

- Darwin from Darwin’s Finance presents How I Saved 44% on my Comcast Bill, and says, “Want to save 40% or more on your Comcast or other provider bill? A step by step chat session transcript outlining exactly how to negotiate massive discounts from service providers.”

.

- Curt from PennyJobs.com presents 2009 Budget Reflections.

.

- Silicon Valley Blogger from The Digerati Life presents Use A Debt Consolidation Calculator, See How To Erase Debt Faster, and says, “I illustrate how much you can save (or not) through debt consolidation, using a debt pay off calculator.”

.

- CindyS from Oh My Aching Debts presents Life On A Cash Basis, and says, “We live life on a cash basis. ”

.

- Miss Thrifty from Miss Thrifty presents Invisiblehand will slash ??? from your shopping.

.

- The Smarter Wallet from The Smarter Wallet presents Debt Consolidation Loans: Tips, Pros and Cons, and says, “Here are some of our ideas for consolidating debt.”

.

- Blogging Banks from Blogging Banks presents $125 Chase Checking Bonus.

.

- LeanLifeCoach from Eliminate The Muda! presents Building Credit Without Credit Cards, and says, “Whether you are just starting out or you found yourself in the position of having to rebuild your credit, there are several options at hand. ”

.

- Daniel from Sweating The Big Stuff presents How To Get The Most From Your Gift Cards.

- Time Sensitive – Other

Technically, your resolution should be keep throughout the year and your ultimate deadline should be December 31st 2010. However, I suggest dividing your goals in pieces to be evaluated every quarter so you can follow your bigger goals a few months at a time.

- Eric from Narrow Bridge Adventures presents Getting Ready for Tax Time: 5 Tax Forms You Need, and says, “An early look at what we need to do to get ready for our 2009 taxes. April is not too far off after all.”

.

- Cents from Making Cents of Money presents Selling Magazine Subscriptions for Income.

.

- Henry Stern, LUTCF, CBC from InsureBlog presents Alphabet Soup News: “Reform” Edition, and says, “Summary: If you have an Health Savings or Flexible Spending account, 2010 brings an increase of up to 40% in the cost of your medications.”

.

- jim from Bargaineering.com presents How to Donate Appreciated Stock.

.

- mbhunter from Mighty Bargain Hunter presents Your calling doesn’t necessarily fund your retirement by itself, and says, “Are you taking a low income to pursue your calling? Please don’t throw in the financial towel!”

.

image source: Aaron Geller, Aussiegall, Dcysurfer, Takomabibelot, Victor Frankowski.

Similar Posts:

You Want More? Sign-up! ->
TFB VIP Newsletter


If you liked this articles, you might want to sign for my FULL RSS FEEDS. If you prefer to receive the posts in your email, subscribe CLICK HERE


Comments

Thanks for including me in this great carnival!

Happy New Year!

Thanks for hosting, and for including our post.
 

[...] shared at this week’s Carnival of Personal Finance [...]

Wow! Thanks for the editor’s pick!

And thanks for hosting this big carnival — nice job.

[...] The Carnival of Personal Finance #238 – 5 Tricks To Keep Your Resolutions For The Year Edition @ TheFinancialBlogger.com [...]

[...] Financial Blogger ushers in the first Carnival of Personal Finance in 2010 with the  5 Tricks to Keep Your Resolutions For the Year Edition [...]

Looks good my man! Here’s to a fabulous 2010 :)

[...] article was featured in the Carnival of Personal Finance. Please check out this carnival for many other great articles about personal [...]

[...] 2010Filed Under Uncategorized | Leave a Comment Comments protected by Lucia's Linky Love.The latest Personal Finance Carnival was posted yesterday at The Financial  Blogger.  These are just a few of my favorite posts from [...]

Happy New Year

Thanks a million for including my post.

[...] A similar situation occurred with General Electric (GE), which also had a long streak of dividend increases, until it also cut its distributions in February 2009. The company’s stock price has had a rough decade, falling from 60 to 6 before partially recovering to 16. In the meantime the company’s current yield increased several times to over 10%, until the company cut its distributions by more than 60%. It definitely pays to listen to the collective wisdom of stock prices most of the times, although not at all times. Procter & Gamble (PG) in the 1970s tells us a completely different story. The company had already established itself as a solid dividend achiever and kept rewarding shareholders with annual raises, while the stock price appeared uninterested in the general improvement of the company’s finances. At the end of the day it is important to purchase the best dividend stocks that would throw off a rising dividend income stream. It is also important however to not completely ignore capital gains as well. This post was included in the The Carnival of Personal Finance #238 – 5 Tricks To Keep Your Resolutions For The Year Edition [...]

[...] Financial Blogger: 5 Tricks To Keep Your Resolutions (Carnival of Personal [...]

[...] article was featured in the Carnival of Personal Finance! Categories: Debt, finances Comments (10) Trackbacks (1) Leave a comment [...]

[...] 238th edition of Carnival of Personal Finance is hosted at The Financial Blogger. This edition includes my article, Holiday [...]

[...] Carnival of Personal Finance [...]

[...] Personal Finance, Best of Money, Top 21 of 2009 Related Posts:File your taxes for freeFree STATE Income tax filing [...]

[...] This post was included in the 238th edition of the Carnival of Personal Finance, hosted this week at The Financial [...]

[...] past week Not Made of Money participated in the Carnival of Personal Finance #238 hosted at The Financial Blogger. There were many great articles in the carnival and here are my [...]

[...] I was included in the Carnival of Personal Finance this week, and apparently Aching Debts liked my post! Posted in [...]

[...] Monday’s Carnival of Personal Finance was hosted by The Financial Blogger. Included among the submissions are five tricks to keep your New Year’s resolutions. VN:F [...]

Sorry for the belated response but I wanted to say thanks for including me in this carnival. You did a great job!

[...] of Personal Finance #238 (The 5 Tricks To Keep Your Resolutions For The Year Edition) was hosted by The Financial Blogger and you can find our post entitled Calculating 401(k) Early Withdrawal Fees, Look Before You [...]

[...] Thanks to The Financial Blogger for including this post in the Carnival of Personal Finance. [...]

[...] for Income has been selected for the 238th Edition of the Carnival of Personal Finance over at The Financial Blogger. Check it out for some more excellent [...]

[...] Carnival of Personal Finance hosted by The Financial Blogger [...]