Every New Year brings with it hopes and dreams and a fresh set of challenges. It is the perfect time to look back on the year that is coming to an end, and to look forward to the twelve months that are about to begin. If you had investment or savings goals for 2013, this is the ideal time to consider how you actually did with them. Did you meet them all? If not, why not? Sometimes there are good reasons for not meeting particular goals but other times nothing can really be used as an excuse.
However you can use the information you have gleaned over the past twelve months to influence the New Year that is about to begin. Most of us manage to find a little bit of quiet time over the festive season. It could be on Christmas Eve when all the wrapping is done and we’re just relaxing with a well earned drink. It might be on Boxing Day when the main festivities are over and we’ve had a lie in. It could be in that no man’s land in between Christmas and New Year, when everyone seems to be in limbo, waiting for the New Year to begin.
Whatever time you have, find a couple of hours to set aside for your own needs. You can use this time to look back and to look forward. Grab a notepad and pen and maybe your list of goals for the year that is about to end. See how you did with them. Think about the potential for achieving more in the coming year. If you did manage to achieve your goals (or at least some of them) take the time to congratulate yourself on your efforts. You’ve proven it is possible to save and invest money when you put your mind to it. What could you do in the next twelve months?
It is important to recognise our goals change over time as well. It could be you set a savings goal for 2013 and it changed because of a change in circumstances. Now you can look ahead with fresh information and set more appropriate goals that will hopefully take you through the twelve months ahead.
Whenever you have the chance to achieve something worthwhile, it is worth working towards it. Consider your financial position at the end of 2013 and think about where you would like to be at the end of 2014. Do you want to save up for a particular goal? Do you want to achieve more than you did this year? Are there new investment opportunities that would suit you this year that didn’t suit you last year?
Whatever the answers might be you can be sure you will find them more easily by setting aside some time for your needs this festive season. Remember, eradicating debt should come first, and then you can focus on looking for the best and most rewarding investments for 2014.