Happy New Year

We have come to the end of a challenging year and the prospects for the New Year seem even more daunting.  I have been focusing my attention on investing and preparing for the future and next year will certainly test how effective we have been.  The new tax measures announced will increase the cost of goods making it harder for the average person to save.  However I cannot stress enough that if we don’t continue to save and to budget our expenses, it is going to become very difficult to survive.

Unfortunately, we have waited too long to take action to reduce the deficit, we continued to spend what we do not have, and are now reaping the consequences.  What we see happening in the economy is what can happen to us if we continue to spend what we do not have. 

I am not one given to New Year resolutions but I think that all persons need to make a choice to reduce their indebtedness.  It is time to prioritise, we need to eliminate any unnecessary expenditure and focus on paying down our debt.  As each person’s situation is different, so there is no one solution that will fit everyone.  Do not be afraid to seek assistance in managing your affairs as there are financial institutions and other bodies who can help you.  It is better to sacrifice now than to wait until it is too late to do anything about it.

Let us decide to start saving from now, avoid going to that New Year’s Eve party with all of its related expenses.  Why not find yourself in Church and celebrate the real reason for the season, the birth of our saviour Jesus Christ.  Use the occasion to give thanks to God for bringing you through another year and to ask for his guidance in the coming one.  The best part of it is that it is free and you may make some new friends as well.

I would like to thank all of you who read this column and especially for all of your comments and feedback.  It has been a real learning experience for me and my aim for next year is to see how I can improve the blog in order to meet more of your needs.
May god bless you richly in the coming New Year.