FIVE Great Financial New Year’s Resolutions

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FIVE Great Financial New Year’s Resolutions

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January 02, 2012

1). Start A Holiday Savings Account! Now that the official New Year has begun, set up an automatic savings plan from your pay stub or an automatic transfer from your checking account into a separate account to be used strictly for next holiday season. By putting away just $10 to $20 a week, you can avoid the dreaded credit card debt syndrome going into the following year holiday season.

2). Increase Your 401(k) Contributions By 1% - Sometimes saving for retirement can feel like climbing a mountain. Typically, you will get your raise from your employer in the beginning of the year. Increase your 401(k) savings by 1% and you won't miss it. Out of mind out of sight. If you get a raise, this will be one of the easiest ways to boost up your forced savings.

3). Shop All Of Your Bills - It is far too easy to pay your bills on line today without even reading them. Call each of your core 8 to 12 bill vendors and just simply ask if they have a better deal or plan you should be on at this time. Your cable, gas, electric, and cell phone vendors don't want to lose that recurring revenue in the beginning of the year, so strike while the iron is hot!

4). Plan Your Vacations With Your Points - Most frequent flier or point programs also come with an expiration date. Even if they don't expire, you should plan your first vacation of the year strictly trying to use your points. If you do your homework and travel at the right time of the year, many hotel chains have point stretcher deals and you may be able to find a discount on an airline point program. Don't worry about trying to save these points for a rainy day.

5). Buy What Is On Sale - January is a great month to stock up on all Christmas items, Jewelry, Bedding, Calendars, Toys, and Electronics. Look for deals on these to get items for cheaper than their regular price.

Of course, every New Year should start out with a complete review of your balance sheet (your net worth) and your income statement (your income vs. your expenses), so you can budget 2012 just like a real company would do at a corporate level. Getting into the habit routinely will allow you to become more financial secure in a much quicker time frame.

Visit to www.oxygenfinancial.net to request a free consultation with the leading financial experts for people in their 20's, 30's, and 40's in the country.

Written by:

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder of oXYGen Financial, Inc

Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice and Smart Money Moves to the X and Y Generation.

Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.