Lesson One

Happy New Year! "A year older and not a penny richer." Is this you? Be honest. The first step in achieving financial success is writing down your financial goals. I know, I know... it sounds stupid, but it works!

Begin by asking yourself what you would like to accomplish this year. Would you like to have more money this time next year, or less? If you want to have more money by this time next year, please continue reading.

Many of you might believe that you are too young to worry about your finances. Or that you make too little money to think about saving or investing. The truth is that the most popular regret among investors is that they started late. The younger you are the greater the advantage you have! In investing (and saving money), TIME=MONEY. I will write more about this soon.

Having trouble thinking of financial goals or resolutions? Here's a few:

-Open a savings account (even if it's with $50)
-Create a budget and stick to it
-Spend less
-Stop buying things you can't afford
-Pay off late bills, credit cards, student loans, and any other debt
-Get a job (This one's for me!)
-Make your money grow (think beyond a savings account)
-Open a 401k with the company you work for
-Open a Roth IRA

Homework: Write down your financial goals for 2006 on paper (ie. Notebook paper, Journal or Diary, Post-It Note, Index Card...)