What are your plans for the New Year?

New Years resolutions are almost a cliché but lets face it once we get ourselves away from being swamped by the detail and pace of day to day events we do tend to reflect on the bigger picture. This reflection often results in some good intentions but ask yourself - “how often have I made good on those good intentions?!

From my observation people who are successful in their lives (be it business, sport or whatever path they have chosen) are those who have decided on their goals and taken control of achieving them.

Money is only a means to an end so it’s helpful to your “bigger picture” to have money issues under control. Here are a few things you could think about.

Do you have a plan and do you have a budget attached to this plan? A budget is really an action plan with timed spending put against each action. For many ‘budget’ is a four-lettered word. But think of ‘budget’ as a plan to spend, with some of that spending allocated to the future. After all saving and investment is about sending money forward so you can spend it later.

Do you pay off your credit card each month? If not make this a priority. And do you have a plan to pay off bank debt?

Have you joined KiwiSaver? Because of the ‘free money’ still available this is one of the few investment strategies you should adopt even while still owing the bank. If you have joined KiwiSaver give yourself a pat on the back. But have you reviewed the performance of your scheme? Are you still in a default fund?

When did you last review your Estate Plans? Wills, Enduring Powers of Attorney, Trust arrangements should all be looked at regularly.

Take a look at all insurances for match and value for money against your current circumstances.

When did you last review your investment portfolio? Does it still meet your needs? How are the individual investments performing?

And finally - when did you last have a belly laugh?! Make sure you have some fun along the way! Have a successful New Year!

(Hint: clip this article and put it in a prominent place as a reminder to take action!)