Making a New Year resolution is quite easy. Practicing the same is otherwise. I’m writing this based on my experience. 🙂
When a resolution demands high levels of discipline, the task becomes all the more burdensome.
First, most of us generally fail to make reasonable resolution(s). And that is the biggest reason why most of us fail to keep the one(s) we make!
Instead of “I’ll start my exercise schedule by walking 3 kilometer every day”, we would resolve to “sprint 5 kilometer every day, starting January 1”.
One such (difficult) resolution that we often fail to put into practice relates to how we plan to work on our money-related issues.
Here are some of the most common money resolutions that people make at the start of a year…
- I’ll try to become a better saver in the New Year.
- I’ll invest less than 20% of my money in stocks.
- I’ll not invest in stocks at all, even if stock markets go up.
- I’ll not listen to my financial advisor in the New Year.
- I’ll make my own investing decisions instead of depending on others.
You might have your own money resolution for the New Year. If yes, tell me – What’s your money resolution for 2012?
How do you plan to treat you hard-earned money and investments in the coming year?
The best ‘money resolution for 2012’ (purely in terms of content) will win a free copy of the book “One Up On Wall Street” by Peter Lynch.
One Up On Wall Street, apart from Benjamin Graham’s The Intelligent Investor is the best book to get started on stock market investing. The real beauty of this book is the easy-going review of the simplistic stock picking style that brought Lynch so much success in his profession as a fund manager at the US mutual fund company, Fidelity. This book is low on number crunching but high on anecdotal stories. Moreover, readers are given a clear picture on how to get off to a good start in the stock markets.
Anyone thinking about buying individual stocks must read this book before they ever make their first stock purchase.
Now you can get this amazing book for Free!
The last date for submission is 2nd January 2012. So you must hurry!
I will read and research a lot on how to pick fundamentally strong stocks and invest 20 % of my savings if i am convinced that the stock is fundamentally strong (off course at the right price).