It’s that time of the year to reshape your finances

A lot of personal finance data appears in my inbox this time of year. So heading into the stretch-run of 2013, I’m passing this along with best wishes from Northwest Community Credit Union.

+ Make a New Year’s resolution to budget new financial confidence. Budgets, and the willpower to stick to them, rank right next to fitness programs and calorie counting on the list of resolutions for the new year. Regional manager Jan Griffin accounts for such short-lived efforts to cultural stereotypes about money-saving decisions being restrictive or stifling.

+ Saving money is about making good choices, rather than being stingy or close-fisted with money. In reality saving builds confidence and wealth over the long term.

“When people have had even small success with saving,  they begin to see themselves a little differently,” Griffin said. “Comfort with financial matters includes a sense of being more in control of your destiny.”

+ Savings-minded people take action according to goals, rather than being influenced by time–money pressure, Griffin said.

“For someone who has even basic experience budgeting, there’s less conflict about making purchase choices,” she said. “Once you’ve set up your priorities, and designated allowances for them, including an emergency fund, you’re not in the position of having to review your entire financial picture when the unexpected expense strikes.”

+ A little discipline goes along ways. In this case, Griffin said, people carrying cash, in small amounts, rather than plastic, can learn to stretch the dollars. Creating a daily or weekly budget leads to regained self-empowerment through directing financial choices.

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    Greg Stiles

    Covering the Southern Oregon business and economy since 2001. Read Full
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