A New Year - and a New Outlook on Money

In the first couple weeks of 2008 I've spent a lot of time thinking about what I want to accomplish for myself financially this year, including realistic goals for short-term savings, retirement planning, investing and debt reduction. These goals are motivated by a few general themes, which are:

Save before I spend - Pay myself first, so to speak. Ensure that I set up automatic savings so that it takes precedence over any discretionary spending.

Never again borrow from friends or family - I cannot express how guilty and ashamed I am that I owe money to some of the most important people in my life. This is the absolute worst feeling in the world, and I cannot wait until the day when I can eliminate this debt and moral burden from my life.

Account for every penny - Keep track of every cent that enters my possession. Know where my money is going and why, and how I can improve that usage.

Never pay for money mistakes - No more late payments, overdraft fees, service charges, etc. All payments will be made on time and I will never overdraw my bank account again.

Plan for the future - Try to think about what the money I have now can do for me 5, 10, 25, 40 years down the line. From general savings to retirement planning to making my money work through intelligent investing, always keep in mind what my goals are.

These are the main themes that I hope will govern my achieving the financial goals I have set out for myself this year.