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1. Be grateful for what you have.
While it’s easy to focus on the future and on the things you want to accomplish, take time today and reflect upon all the wonderful blessings you have in your life.
2. Set up a Personal Capital account.
This is by far the best free financial tool on the web. Personal Capital quickly aggregates all of your accounts so that you can view and analyze your net worth, budget, and investments.
3. Put together a plan to pay off debt.
I hate debt with a passion. Getting rid of my mortgage was by far the best financial thing that I ever did. I couldn’t recommend it more.
4. Conduct a time audit.
Ensure that you are making the most of your time. Take a look over a week and see what your top time-spending categories are. Are you happy with your findings, or do you see an opportunity to readjust?
5. Maximize your retirement account contributions.
The government allows you to contribute up to $18,000 towards your 401k and contribute up to $5,500 towards your Traditional or Roth IRA. Look for ways to increase your savings rate until you are able to fully fund these accounts.
6. Figure out when you can retire.
Most people think that they’ll be able to retire when they are 65 and can receive social security. Wouldn’t it be nice to retire 5, 10, 20 or even 30 years earlier? Take the steps to figure out when you can truly retire.
7. Set attainable goals for 2017.
With a new year here, set up good habits and break the bad ones. Find an accountability partner to help hold you accountable for your 2017 goals.
8. Determine long-term goals.
It’s too easy to get bogged down in the minutia of everyday life. Set some big, long-term dreams and take steps towards them.
9. Take a vacation.
In the go-go pace of life, it’s easy to get burned out from work and life in general. Studies have shown that workers that take time off end up earning more money than those who don’t.
10. Learn something new.
Take time to stretch yourself and learn something new. One of my stretch goals this year will be to learn Spanish with my wife.
11. Continue learning.
I am a huge fan of reading books to learn as much as I can. I try to read a wide variety of books to expand my horizons. Ever since I started using the Amazon Kindle, I read multiple books at a time. The best part is being able to download books from the library for free. Plus, if one of the books that I’m reading is terrible, I can quickly return it and move on to the next great read.
12. Check your insurance.
Did your insurance bill go up? Are you underinsured? This is the time to review your coverages across auto, life and home insurance to make sure your coverages are adequate.
13. Conduct a financial checkup.
Most doctors recommend that you get a yearly checkup. So, shouldn’t you also conduct a financial checkup at least once a year as well? This is a great time to look at your bills and finances to see if you should make any adjustments. Is now the time to cut the cord in certain areas? Take a look at your finances and see if some surgery may be necessary.
14. Think about giving back.
Find organizations that line up with your passions and beliefs. Donate your time and money throughout the year. Pay it forward.
15. Adjust your W-4 form, to get a smaller refund.
If you get a big refund from Uncle Sam every year, why? You are giving the government an interest-free loan for no reason. Aren’t there better ways to use that money? Take time to work with your HR rep to adjust your W-4 form.
16. Exercise.
I recently got back into the exercise routine through a local boot camp. It’s made a tremendous difference in the quality of my life. I feel less tired during the day even though I’m not getting more sleep. Plus there is data backing that there is a correlation between exercising and your paycheck.
17. Treat Yo Self.
Make sure you budget some fun money for yourself throughout the year. There is a fine balance between saving for the future and living in the now. Enjoy your financial journey.
I love that being grateful is number one! Contentedness is so crucial to the rest of personal finance…
Daniel Palmer recently posted…What are Itemized Deductions and Why I Hate Them
Thanks for stopping by Daniel!!! I definitely agree. Being content in everything that we have goes a long way towards happiness 🙂
Great list. I also think the order is relevant. Grateful being one and treat your self last. Each are important but you wont be happy with your treat if your not grateful.
I might add one more that’s top on my radar. Update your wills, estate planning for any change of situation.
Full Time Finance recently posted…Why You Should Read Financial Business News
Oh man that’s a great add Full Time Finance!!! I definitely need to remember to make a review of things and ensure that they are available if something happens to me. My wife’s mother passed away before we got married and she could not find her will. So they were required to go to probate court which was a bit of a pain.
Thanks for sharing!!!
Excellent points. Gratitude really should be at the top!
ChooseBetterLife recently posted…Are You Having a Conversation Or Just Waiting To Speak?
Thanks for stopping by ChooseBetterLife!!! I’m really trying to be more grateful in 2017 and hopefully making it number one will help me keep focus 🙂
I’m looking forward to #4-being mortgage free! And fortunately #15 doesn’t apply to me, I haven’t gotten a tax refund in years. My favorite year was when I had to send in $11-hit it almost right on the nose! Great list.
Liz@ChiefMomOfficer recently posted…Knowing Yourself – Your Balance Sheet – 2016 Financial Report
Wow that’s awesome Liz!!! Sounds you play an awesome game with the IRS to see how close you can get. Smart!!! I don’t know of anyone that has come closer than $11. I guess this will be a challenge in the future 🙂
Thanks for sharing!!!
Nice list Mustard Seed. I recently did something similar to a time audit at work and just posted on my blog about how much more I was able to accomplish. There are so many time sucks we don’t realize that are stealing hours and hours of work from us.
Thanks for sharing!
Go Finance Yourself! recently posted…How I Increased My Salary 20% in 2016
That’s great that you were able to do a time audit and figure out how much time could be used to accomplish things.
Time sucks really do suck and I have to admit there are days where I think where did the time go and what did I do.
Anyway…I’ll definitely have to catch your post!!!
This is a great to do list. I can definitely use a reminder for number 1, 9 and 10. My wife will be happy to know that I am building a vacation fund.
Thanks for stopping by Leo!!! I’m sure your wife will be thrilled that you are building your vacation fund. Going anywhere fun?
Ther are two places that we have in mind. The first is to go back to Hawaii for our tenth anniversary. The second is to either go on a Disney cruise or the magic kingdom with the kids. With the Canadian dollar so low, I may have to work a bit harder.
Leo T. Ly @ isaved5k recently posted…How My Client Saved $30,000 When He Sold His Home
Either of those sound amazing. Although since I’ve never been to Hawaii that might be my vote 🙂
You’ll have to share what you end up doing!!!
Great list! I’m eagerly awaiting my first vacation of the year (I mean it has only been a week, right?) hahaha
Given the time of the year, it would only make sense to go somewhere in the sunbelt states! No freezing cold for me!
Andrew recently posted…How To Read Financial Statements (Amazing Course!)
I’m with you Andrew!!! If I could be in Costa Rica right now, I would be in heaven 🙂
This cold weather and snow is fun for a couple of days but then I’m ready for summer again 🙂
These are all very valid points, but I’m particularly happy about mentioning the last one. You can read a lot on finance blogs on how to save more and be more frugal. But you really shouldn’t forget about the happiness of you and your loved ones on the way.
Roadrunner recently posted…What is the Best Passive Investment Strategy?
Thanks for stopping by Roadrunner. I definitely agree that treating yourself and finding that right balance between the future and now is incredibly important.
Hope you have a great 2017!!!
Great to do list!
One thing I would add would be to be on top of your check-ups, whether it is health, dental, auto, etc. It’s always great to know the status and to improve on it when possible.
Thanks for stopping by and sharing Smart Provisions!!! I definitely agree that if there are opportunities to improve your situation you definitely should. A financial check up in all areas makes a lot of sense.
Thanks for sharing!!!
I definitely maximize the IRA because you can’t make it up. I’m working on a non-profit project now that I’m really excited about. We’re also planning and preparing for a trip around the world for early 2019.
So, I think I’m hitting a lot of these!
Primal Prosperity recently posted…How to Make $1,000 per Hour and a Better World
Whoa a trip around in the world in 2019. I would love to do that. What locations are you hoping to see?
Sorry, I meant 2018, about a year from now.
I’ve already been all over the world, but this is going to be slow travel. Probably Belize, Galapagos, New Zealand, Southeast Asia. My husband also has friends and family in Italy, Uk and Scotland. So, that’s the general plan… Plus Iceland! 🙂
Primal Prosperity recently posted…How to Make $1,000 per Hour and a Better World
You know my weakness for Iceland 🙂 I am super jealous. Plus Galapagos and New Zealand are both on my bucket list. I am so jealous. I can’t wait to hear about your adventure especially since it’s coming a year earlier 🙂
I like your list. One thing I would add to the list is Monitor Your Goals. Setting up short term and long term goals is great, but if you don’t stay on track, then the goals become useless. I try to check my net worth, income/expenses, and retirement goal achievement at least once a month. (I use an Excel spreadsheet.)
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Thanks for stopping by and sharing Fred!!!
Monitoring your goals is a terrific thing to add. I definitely check at least monthly using Personal Capital to see how things are going on.
Thanks for sharing!!
I love them all! I like how it’s a good mix of to do’s and to be’s…do things that will help you earn wealth, but pick up traits that help you be better too!
Making Your Money Matter recently posted…RE401: Calculating Retirement Needs
Thanks for stopping by Kathryn!!! I’m glad that you liked the list. I was hoping it wouldn’t sound too preachy 🙂
I do many of those! Yay! I’m also always trying to find ways live a more calm, simple life!
Tonya@Budget and the Beach recently posted…2017: The Exploring Year
Thanks for stopping by Tonya!!! Sounds like you are doing an awesome job and striving to better yourself everyday 🙂
“Plus, if one of the books that I’m reading is terrible, I can quickly return it and move on to the next great read.”
I love that you pointed this out. For some strange reason I have a hard time giving up on a book I’ve started reading. Most of my “reading” comes in the form of an audio book, and I usually want to give the book at least an hour or two. But, once I’ve given a book some time I feel like I have to see it through to completion.
I’m working on my weird habit and I hope to be able to give up on books I’m not enjoying a lot sooner. With so many good books in the world, there is no reason to ever settle for a less enjoyable book.
Hopefully I get better at it. Even as I write this, it makes no sense why I do what I do.
NinjaPiggy recently posted…How to Crush Your Retirement Savings Goals
Thanks for sharing NinjaPiggy!!! I did the same thing as you. But then I started to think about the sunk costs and how I couldn’t get it back and decided life is to short to throw good time after a bad book. So not having any money invested made it much easier 🙂
Great list! One thing I’ll probably need to do this year, in addition to exercising, is conducting a time audit especially given the new addition to our family. I’m also a big fan of continual learning. Thanks for sharing!!
SomeRandomGuyOnline recently posted…PTFO: Status Update and Re-evaluating the Plan
Thanks for stopping by SRGO!!! With a little one I know how easy it is so wonder where the time goes. I definitely have thought ok bath time will only take 15 minutes. An hour later and we’re still having fun together. But it’s definitely worth it 🙂
Short and sweet post here! I particularly like #7 about the goals there..
Keep up the momentum you’ve got on the blog here MSM, love your work!
Thanks for stopping by Jef!!! I’m glad that you enjoyed the post and were able to take away some good tips 🙂
Solid list. In terms of #11, Continue Learning, I am trying out something new. I bought a few online courses (Udemy was having a sale), and I’m going to try learning a bunch of new things a completely new way. I’ve never tried online courses before so this should be interesting.
Mrs. BITA recently posted…The BackStory of Mrs. BITA: Part 1
Thanks for stopping by Mrs. BITA!!! That’s awesome that you are doing some online courses. During my MBA we had a mixture of online/in class sessions so I got a small flavor of it. You’ll have to share your experience with online vs. your experience in the classroom.
Learning Spanish is on my list as well! It is rather similar to French, which I already speak, but I have a lot of learn still! I like this list of ideas; lots of good ones about living mindfully and purposefully.
Mrs. COD recently posted…Frugal Friday: DIY Laundry Detergent
Thanks for stopping by Mrs. COD!!! I’m glad that you enjoyed the list. I have to admit that languages do not come easy for me while they come super easy to my wife. So since she speaks spanish and farsi, I figure she can help me with my spanish 🙂
Feeling gratefull is an absolute key to opening the doors of wealth. It’s amazing how quickly we can feel entitled and greedy when we sop being grateful. And an entitled and greedy attitude is the path to unhappiness. Be grateful for everything you have. You’re right, that will change your life and put your mind on the path to wealth. It’s your mind that ultimately creates wealth.
Thanks for stopping by Bill!!! I was reading the other day that those that continue to consume, need to consume more and more and are never satisfied. I thought that was really interesting but it makes sense.
Anyway thanks for sharing!!!
To achieve points 9,10,11 and 17 you could take a break in Thailand, open an online trading account, and then upon your return back home read my blog and trade Thai shares:
http://www.ThaiShares.com
I’ve never viisted Thailand but I’m definitely open 🙂
This is by far, the best list I’ve seen. It’s really inspiring and will give you a little bit of everything. I love that insurance is included in your list. It’s important to review your coverage and make sure that you’re still fully covered. Nobody wants to pay out-of-the-pocket costs.
Those affected by premium hikes should explore their options well and make the necessary adjustments in order to keep the policy. Dropping it is not an option.
Those with Medicare insurance should have reviewed their policy earlier because switching of plans only happen during the open enrollment period, which runs from October 15 to December 7.