Happy New Year!

Before getting back to work this week, I wanted to wish you all a very happy, healthy, and prosperous 2005!

Here is past list of financial resolutions that I suggested would be fitting to almost all:

1. I will take an honest account of my spending habits, my net worth, and my investment goals.
2. I will let the power of compounding work for me and not against me by investing more and by paying off high interest debt (especially credit card debt which I will entirely pay off during as soon as possible).
3. I will set up a savings and investment plan and stick to it (hint: the best way to do this is with an automatic withdrawal program).
4. I will spend less than I want to and save more than I think I need to.
5. I will remember that there is “no free lunch.” If something looks too good to be true, it probably is.
6. I will diversify my investments to reduce risk.
7. I will not get caught up in daily market volatility but will keep my eyes on my long term goals.
8. I will remember that there is more to life than money.
9. I will invest not only in stocks and bonds but also in myself, my family, and my community.
10. I will remember that money is never worth losing one’s family, one’s friends, or one’s health over.
11. I will remember that amoung the most valuable assets anyone can have are a family and friends, a good reputation, good health, and a clean conscience.
11. I will be generous with my time and money.
12. I will be thankful for what I have and not jealous of what others have.

Happy 2005!!!

jim

who will get back to more "pure" finance on Monday.