New Year’s Financial Resolutions

I’ve never been much for setting New Year’s resolutions for myself – I tend to make changes on my own schedule. But if making resolutions works for you, then that’s great. The Findependence Hub published a list of financial resolutions that are very sensible. What surprised me was how they all missed the mark for my circumstances.

Here are the resolutions and how they fit into my situation:

1. I resolve to figure out my finances.

I did this years ago. They seem quite figured out. Maybe I’ll learn new things around the edges, but I can’t think of anything major that needs figuring out. One thing I’ll need to sort out sometime is how to minimize taxes as I draw down my various accounts in retirement, but that’s hardly the intent behind this resolution.

2. I resolve to stick to a budget.

Nope. I refuse. My finances are ticking along wonderfully without ever having created a budget. I fully realize that most people would benefit from budgeting. I’d venture that even most people who think they don’t need to budget are probably wrong. But I don’t seem to need one.

3. I resolve to get out of debt.

Done long ago and it feels great.

4. I resolve to save more.

Nope. I already save more than half of my take-home pay. I don’t need to save any more, thank you.

5. I resolve to stop wasting money.

Nope. What little wasting of money I do now fits very comfortably into my finances. So, I’ll keeping eating out, taking my sons golfing, and all the other wasteful things I do with my money.

So there you have it. I serve as a terrible example for the vast majority of people who need to follow most of these resolutions. I’ve even provided defiant refusals that fit my life and shouldn’t be adopted by others. Sorry.