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2008 - Giving Your Financial Plan A Tune-up

With a new year comes the fresh wind of all types of possibilities. That being said, one of the top areas to consider is your personal financial situation. Here are some tips to follow for 2008 if you can. You'll be much better off if you do.

The first bit of advice might startle you, but it should not. If at all possible, buy a home in 2008. Given the current slump, you are probably wondering why you should buy? Well, you can get a great deal and see big appreciation gains when real estate rebounds.

We all tend to take a financial position and then defend it to the last straw. This is a huge mistake. You must divorce your emotions from objective facts. If you don't, you will throw good money after bad. Stick to this advice and you will make money.

Don't follow the advice of gurus. People you see on television and such are idiots for the most part. They are good at building up their profile, but not much else. Most thought they real estate boom would never end, but it certainly did!

Buying insurance is not exactly on the top of the list of things to do, but you should. Make sure you have enough to cover big financial problems such as hospitalization and disability. Eliminate insurance for small items such as credit card debt.

The number one issue that couples fight over is money. Well, get ready to fight. If you are with someone, you must get a cummulative financial plan together. You can get through it now while there is no crisis with a minimum of aggravation.

As far as I know, there are not many of us that want to work every day of our lives. To get out of such a future, you need to do retirement planning now. It is not to painful, so just do it and prepare to reap the benefits down the road.

What is the best investment you can make in the world? How about investing in yourself? You want to live a long, fruitfull life. Join a gym and get some exercise. Go back to school and get that degree or training.

Calling psychic lines probably isn't the best use of your money. That being said, you need to become a bit of a fortune teller. Specifically, your own fortune. You should take into account big things [a child?] you expect to happen next year and plan for them.

As with any year, you should also follow basic strategies to enhance your finances. Stuff every penny you can into retirement accounts. Pay off credit cards. Save up six months of wages. Most importantly, enjoy the new year.