Financial Friday: 10 Things for 2010

10 things for 2010

By Alice Shaffer

We are fast approaching the end of 2009 and getting ready to welcome 2010. The economy for the past year or so has been such a roller coaster for us personally and the families we work for. This not only affects our wallets, but it affects our mental balance. I have put together a list of 10 things that you can work on for 2010. Wealth is not only defined by the money you have invested but by your personal, professional and physical growth as well. The following items cover financial, personal growth, professional & physical growth.

10 things for 2010

· Review your budget for the year of 2009.
o Has it been working for you?
o If yes, continue with the current budget
o If not, redo your budget
§ Visit The Financial Nanny to see the 3 part series on how to set up your budget.
§ Explore Dave Ramsey’s methods

· Lessen your load
o go through your closet and get rid of items you haven’t been using
o make sure your bills/statements for 2009 are in an envelope marked “2009”
o go through your magazines and recycle
o donate books you have already read
o Have you said yes to too many outside projects? If so take a step back from those commitments. There is nothing wrong in resigning or withdrawing from projects if you are stretched too thin.

· Look at your Personal Self
o How are your eating habits?
o Are you in need of cutting out some unhealthy items?
o How are your exercise habits?
o Are you in a Positive Space with your personal & professional environments?
o Have you wanted to learn a new hobby or skill?
o How are you doing with your personal growth as a professional?
o How are you doing with your personal emotional growth?

· How can you give back in 2010?
o Is there a charity you can give to throughout the year?
o Is there somewhere you have wanted to volunteer with, but haven’t?
o Can you work with your local or national nanny group in spreading the word about the group? Challenge yourself to get a new member each month.

· Start or Contribute to your IRA
o Make contributions to your 2009 tax year IRA
o Start a 2009 IRA by the time you file your taxes
§ Look at Fidelity Investments for an easy to start IRA

· Filing your taxes
o File your taxes by the end of February, get them done early

· Update or Start your Will and Living Trust
o Look at Suze Orman’s site for her online Will & Trust Kit

· Make your 2010 holiday & birthday shopping list by January 15.
o Buy one or two gifts a month for those on your list
o If you don’t buy a gift, then set aside $10-$20 for each gift into a Smarty Pig or ING Direct account, to gain some extra interest

· Plan a monthly outing
o Have a monthly get together with friends
§ Seeing a movie
§ Having brunch somewhere
§ Throwing a board game party
§ Taking a day road trip
Explore three goals you want to achieve in 2010
o Write down your goals in a small notebook
§ Explain what steps you can take in achieving these goals
§ Write down the dates you want each of these three goals to be accomplished by. Make sure to schedule them throughout the year.
§ Do a monthly check over your goals to make sure you on track for being successful in achieving them