I have so many areas in my life that I'd like to improve for the New Year that I often want to dump all my resolutions into a pile and just hunt and pick when the urge strikes. My daughter, however, convinced me that it might be easier for me to keep my resolutions if I spread them out over the upcoming year. I won't disclose what I need to improve in other areas of my life, but I will share my New Year investment/savings resolutions. Based on Cora's plan, I came up with 12 workable solutions that seem less intimidating if I tackle them one month at a time:

January: Since I can't rearrange my office furniture because of the mess, this resolution focuses on the mess with an eye to taxes. I have a whole month to actually use that money-management software that I purchased last year so that I can pack away the receipts that float around my desk (and floor, and?). I hope that I'll discover shortfalls in my tax returns before I file.

February: This month I'll peruse the IRS website to discover any new policies about donations, earned income credit, and other options which might save dollars on this year's tax return. For instance, I might be able to contribute to either a traditional or Roth IRA as late as the April 15, 2006 due date (not including extensions). Oh - and this is a great time to shop for 2006 fall school items as stores make room for spring merchandise.

March: Now that my office is clean and my taxes are ready, I'll file early and put that part of my life behind me. The path will be clear (literally) to re-calculate college savings plans for Cora. If your child is old enough to apply to college this year, this month represents the deadline date for many undergraduate applications. FAFSA has new guidelines for financial aid deadlines: While you have till midnight Central Daylight time, June 30, 2006 to file at FAFSA, the college of your child's choice might have other deadline ideas. Check with that college now before you run out of time.

April: While other folks might sweat tax deadlines this month, I'll reassess my portfolio. Most quarterly SEC reports were filed last month (some filings vary dependent upon the company's financial plans and possible new SEC deadline decisions). Based on quarterly financial information and projections, I can begin to weigh my current choices and look for further diversity. Also, this month represents a great time to check vacation savings and to make reservations for summer travel.

May: Now that I've streamlined my portfolio, I could begin to look for new investment possibilities. While I usually go nuts with money and financial magazines at the newsstand, the same investigations can be made at the local library (hmmm?possibly another resolution in the making here?). I make notes and commit to more research before I jump into any suggestions offered by these magazines, and now I could have an entire month to work on this project.

June: School's out! One reason I don't jump into investments is because my daughter often has great ideas to investigate. Now that she's available for research, we can look into further possibilities together (quality time and all that). And, since I made vacation plans in April, we already know our options and we can plan our summertime more sensibly than I have in the past.

July: I can't help but think that June 1st to Nov 30th marks the hurricane season, especially since so many people were affected by Katrina and other storms last year. Although I hope that we'll all fare better this upcoming season, this month I'll begin to set aside enough money to send to my charitable organization picks by the end of the year.

August: It's December now, yet I can imagine how hot August might be in 2006?This month might be a good time to clean up my cost-of-living budget, especially costs involved with heating and cooling. For instance: how much would we save if we turned down the AC during the day? Would we save enough to purchase a pass to the swim club? One way to stay cool while the heat is on is to shop for 2007 summer items as stores make room for 2006 fall merchandise. If you're a car owner, this is also a good time (as well as in late December) to purchase a new automobile. In summer, the dealers want to make room for new models and dealers want to move holiday dollars onto their lots with sales during December.

September: Back to school. Cora will be involved with her studies (I hope!), and I'll assess where I stand with my New Year improvements. This month I can also plan for my 2007 goals. This is a great time to make reservations for holiday travel, and to search for college options for high-school seniors.

October: Although six months have passed since I last suggested a look at quarterly reports, trust me when I say that I'll probably survey these reports year 'round. Additionally, since I might have picked new stocks or other savings for my portfolio this year, I plan to stay current with these new options through BUYandHOLD's Stock Tracker. I can also shop for holiday gifts now and avoid last-minute rushes and foolish choices.

November: This month I'll focus on tax options for 2006 and be way ahead of my game. Once more, I'll check with the IRS site to see what's new for 2007. Now, I'll have a whole month or more to finalize my tax-saving options for 2006.

December: If I made it this far and kept all my resolutions, I'll be able to tackle other resolutions (although I'll never, ever give up on good chocolate!). If I managed to save money, time, and sanity while keeping to my (daughter's) plan, I'll let you know this time next year!

Cora and I wish you a safe and happy holiday season?

Cheers,
Linda Goin