How to be and stay financial free in 2014

All of us have done it, making New Year’s resolutions and promising ourselves that this will be the year that we’ll keep them for definite, only for a couple of weeks to pass and for us to find ourselves falling back into our old habits.

Resolutions are all about self-improvement and we should applaud everyone’s efforts. However, whether it’s being nicer to family members, focussing on work promotions or simply just joining the gym, all too often the goals we set ourselves wind up being unsustainable long-term.

Having said that, the beginning of a brand new year is the ideal time to consider what is most important to us in our lives. When asked ‘what is really important to you?’ a lot of people would have answers which contained friends, financial stability and family. By focussing on the three of these things, you are more likely to go into the New Year with a good, positive mentality.

To assist with this, website have put together their top resolutions which are designed to give you a great 2014.

1. Life Laundry. One of the easiest ways to get some peace of mind is to clean up and de-clutter your home. Reviewing and organising paperwork which can get out of hand is also a useful step. If you do this, you’ll very quickly find yourself as the master of your home and of any financial affairs.

2. Deal with debt. In the UK there are currently nine million adults who live in serious debt and the stress that it puts on people can be enormous, especially after Christmas. If you do live with debt, you should conduct a full audit of your financial situation and look at where spending can be cut. Set yourself achievable saving goals for the year. Getting out of debt isn’t easy, but planning can help.

3. Skeletons in the closet. Whether this is a love letter from an old flame, or our personal diaries, or even our internet search history, keeping a secret can be extremely stressful. Airing our dirty laundry is not easy to do, but it is worth considering the things that might be discovered after your die. The things we leave behind are our legacy and we should ensure that we are remembered the way we want to be.

4. Create a Will. One of the most important things to do in order to secure your family financially is to create a Will. Having one drawn up is necessary, and it is something that, should circumstances not change, you should only have to do once. Wills shouldn’t be expensive to create either, and have a great deal of advice about how important they are, and how to get one.

5. Power of Attorney. A Lasting Power of Attorney grants someone else power over your finances and legal affairs if you become incapacitated. Without it, loved ones can find it difficult to make decisions on your behalf in the event that the worst happens.

6. Resolve Feuds.
According to research through Saga over 25% of us are currently going through feuds with family members or friends that can cause us extreme amounts of stress and anxiety. Sometimes these arguments have been going on for so long that those involved cannot even remember how they began. Taking the time in the New Year to talk them through and repair any damage caused by them can really help you with regards to your self-esteem and can be a great, positive way to start off 2014.

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