Dollars & Sense! January 2010

Ready, set, go. The starting line is here and another New Year is upon us. So how did you do financially for 2009? And what are your goals for 2010?

Asset building for the future is the name of the game we are all part of. You choose how much you want to participate. Twenty-plus years of financial counseling have taught me one thing. The most successful people I know have always had goals they wish to achieve. Incentive, focus and discipline yield results.

Goals could address increased savings, less credit card debt, the car or home paid for, a vacation, etc. Goals may also consider a better lifestyle, giving to those in need, and other charitable acts.
There aren’t right or wrong answers for achieving a financially better New Year. But leaving events to chance are seldom as rewarding as working toward a goal. Chance is part of life since “things happen” that are not foreseen. But we can set goals that will minimize their impact.

Some of you reading this article are retired and on fixed income. Consider your skills and search for some part time work to help build savings or pay down bills. Smaller bills can mean less monthly payment or even faster payoff thus eliminating the payment entirely.

Limited income??? Consider methods to reduce expenses. One expense just around the corner is filing a tax return. Instead of spending $300+ for preparation, find the most convenient Tax Aide location where taxes are completed for free. Times, dates and locations are also in this issue of the Bugler.

If you are unable to save something each month, consider talking to a counselor specializing in assisting low-income families. Maybe one of your goals is to enroll in the IDA program where federal and state dollars are used to match your savings effort. For information, call 425-3420 x248.

The federal government is “giving away” money like crazy. Find out if you qualify. But do not get caught in the scams I mentioned in the last issue.

Asset building is a challenge for almost everyone. But it is essential for a better tomorrow. Now is the time to get ready, and then start your program as soon as possible.

May you have a prosperous and very Happy New Year.

If you have questions about this article or have ideas for future topics, please contact the author @ 575-9395.