Getting Financially Prepared for 2013

Ok, it’s a new year! And like many of us we are busy making resolutions. We vowed to be focused, get organized, and shed those extra pounds. But more importantly, most of us are determined to be in a better financial position for the new year!

So, what steps can you make to have a better financial year than last?

Plant your seed and watch it grow
What do you have that you are not using? Are you talented in areas that can drum up extra income? Many people sought to reduce expenses but ignore the idea of increasing their income.

Consider using your education and experience to supplement your current income. Providing consultation work, offering “how to” courses and utilizing your current talents can materialize into something really big.

Once you earn this extra income, don’t simply splurge it. Utilize this money toward reducing debt, saving for your retirement or any other financial goal you desire. You’ll be surprised regarding how many people are willing to pay you for talents!

Build a better foundation
If you winged it for 2012, it’s now time to set a plan in motion to move you to where you want to be financially for 2013. Do you want to build a better credit score? Spend less than you make? Or simply attempting not to keep up with the Joneses? Whatever your goals are consider writing your goals on paper. I have practiced this method time and time again and simply am amazed of how powerful this method works. Additionally, keep it visible so that each morning you are reminded why you are foregoing that 82 inch plasma television in order to reach your financial goals!

Increase your net worth
Make it a priority to not only be financial savvy this year but to build your net worth. Identifying your net worth is simply subtracting your existing liabilities from your current assets. If you find that you have a negative net worth, don’t be dismayed. Focus on making financial decisions that can increase your net worth consistently. This can be done in a number of ways, but most often by simply paying off debt, increasing your 401k contributions are simply saving a little for a rainy day.

Forego negative thoughts

More importantly, you must simply believe that things will change for you financially in 2013. Thinking negatively or doing the same old thing would only keep you stuck in the past. Dream big, act big and watch big things will manifest in your life!

I wish you a Happy New Year and hope this year brings you the financial blessings you deserve.

Remember your choice your future!

Kemberley Washington is a certified public accountant and a business professor at Dillard University. She writes the personal finance blog โ€œSaving Moneyโ€ for Follow her on Twitter or subscribe to her blog at


9 thoughts on “Getting Financially Prepared for 2013

  1. Great article Kem! Do you allow repost? I would like to share this with the New Orleans Chapter of the National Black MBA Association.

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